Samsung 1999 Annual Report Download - page 58

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9. Investments, continued:
Thousands of Korean Won
Acquisition Recorded
Cost Book Value
(2) Other investments
Investment in listed companies 1,187,973,203 2,898,807,045
Investment in unlisted companies 138,828,189 122,658,461
Securities market stabilization fund 18,508,670 18,760,587
Other 153,538,343 153,538,343
1,498,848,405 3,193,764,436
Total investments 5,366,990,707 6,050,044,457
In 1999, investments in 13 affiliated companies, including Samsung Electronics India Private, Ltd., were not valued using the equity
method due to the pending liquidation of entity or to the small scale of assets.
At December 31, 1999, the financial condition of other investments, such as Array Micro Sys. Inc., Acc Microelectronics Co., Jazz
Multimedia, Inc., Micro Unity Systems Engineering Inc. and the Institute for Social Development & Policy Research, have
deteriorated significantly. Accordingly, these investments have been written down. The differences between the revalued amount
and the acquisition cost was charged to current operations as an invested stock reduction loss.
The cumulative net gain on the valuation of investments in listed companies of 1,710,834 million as of December 31, 1999 is
recorded in the capital adjustment account.
10. Short-Term Borrowings:
Short-term borrowings at December 31, 1999 consist of the following:
Annual Interest Rates (%) Thousands of Korean Won
Bank overdraft facilities 10.5-10.8 5,046
Usance financing 7.5-7.9 44,465
49,511
At December 31, 1999, certain bank deposits are pledged as collateral for the above loans (see Note 4).
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