Offers KRW220bn to 120 Partner Companies
Samsung Electronics announced on Dec. 5 that it has provided a total of 220 billion won in interest-free loans to more than 120 partner companies in Vietnam.
So far, about 80 partners have applied for financial assistance from Samsung Electronics. Of these, about 50 companies have received a total of 100 billion won in loans, and funding for the remaining 30 partner companies will also be carried out sequentially.
The partner companies are located in areas near Hanoi and Ho Chi Minh, where industrial complexes were locked down from May to September due to the spread of COVID-19. Local governments restricted the moves of all residents, including commuting and business activities.
Samsung's partner companies managed to operate their production facilities even with their employees isolated, maintaining the Korean tech giant's global supply chain. Samsung Electronics decided to support them with interest-free loans in recognition of their contributions. It also helped employees of the partner companies receive vaccine shots ahead of others in cooperation with Vietnam’s central and local governments.