Samsung 1998 Annual Report Download - page 61

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22. Business Restructuring
As part of the Company’s business restructuring plans, the Company recognized extraordinary gain of ￦277,619 million from
divestiture of the Bucheon plant’s Power Device Business. Additionally, 22 functional divisions of the Company were spun-off to
18 separate companies including Samsung Electronics Service Co., Ltd. during the year ended December 31, 1998.
23. Environmental Standards and Policies
Building on its philosophy of “Green Management,” the Company continues to seek contribution to promoting an abundant
human life and global environment protection through corporate activities in favor of human being and the nature. The Company
is committed to environment protection and preservation in all aspects of its corporate activities, including product development,
production, marketing and disposal.
The Company has been recognized as one of the most environment-friendly companies and has been accredited by the
international environment standards, ISO14001. In addition to engaging in development and research activities for environment-
friendly products, the Company operates waste treatment facilities for its own use and a recycling center to collect and recycle
waste electronic goods. The Company has actively participated in the community’s environment protection programs. In addition,
the Company has supported the community’s programs to clean protect and preserve the natural environment such as
mountains, streams and parks.
24. Employee Benefits and Public Donation
A) Details of the Company’s employee benefits are listed below.
Item Description
Support for • Allots preferably a portion of newly issued shares to the employee stock
employee ownership association.
property • Operates a mutual savings scheme to make loans available for employees in urgent need
accumulation of funds.
Living support • Individual pension plans to support comfortable silver life.
• Provides employee houses and dormitories for employees assigned to factories
or provincial office jobs.
• Academic tuition support
Support for • Provides employees with commutation buses.
commutation, • Operates in-house restaurant and support clothing expense.
meal, etc. • Support for congratulations and condolences.
Medical • Finances annual medical check-up of employees
support • Support for medical expenses of employees.
Support for • Operates condominium and resort facilities for employees.
leisure activities • Provides paid summer or winter vacation and half-day holiday.
B) The Company made public donations during 1998 as follows:
Description Millions of Korean Won
National human resources cultivation projects 2,000
National welfare and cultural projects, including
the construction of Yongsan welfare center 13,500
Donations to support various medical projects 40,532
56,032
NOTES TO FINANCIAL STATEMENTS
60