Samsung 1999 Annual Report Download - page 70

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19. Related Party Transactions:
Significant transactions with related parties for the year ended December 31, 1999 and the related receivables and payables at
December 31, 1999 are as follows:
Thousands of Korean Won, Thousands of U.S. Dollars
Company Sales Purchases Receivables Payables
Samsung Corporation 40,403,924 625,112,597 72,017,084 198,836,293
Samsung SDI Co., Ltd. 77,470,578 987,862,496 10,238,439 176,395,225
Samsung Electro-Mechanics Co., Ltd. 91,092,651 724,502,937 8,910,815 130,437,215
Samsung SDS Co., Ltd. 89,062,680 272,211,537 29,833,411 28,926,439
Samsung Kwangju Electronics Co., Ltd. 113,570,242 667,459,514 21,741,911 170,879,386
Samsung Aerospace Industries Ltd. 15,357,953 162,368,633 1,468,672 10,543,300
Cheil Communications, Inc. 930,863 94,919,970 37,927 93,004,770
Seoul Commtech Co., Ltd. 19,843,835 95,803,645 6,208,306 21,518,655
Samsung Heavy Industries Co., Ltd. 1,393,555 44,292,171 5,337,569 14,903,224
Novita Co., Ltd. 4,326,609 119,891,015 97,653 43,546,741
Samsung Everland Co., Ltd. 863,025 101,364,743 112,901,005 20,037,500
Samsung Life Insurance Co., Ltd. 25,682,263 2,695,194 158,751,364 7,086,126
Samsung Electronics Service Co., Ltd. 105,369,817 124,600,307 31,008,173 31,673,599
Other local subsidiaries and affiliated companies 46,303,308 318,196,254 86,429,814 55,263,314
Foreign subsidiaries and affiliated companies $ 10,678,976 $ 4,141,759 $ 156,532 $ 582,616
631,671,303 4,341,281,013 544,982,143 1,003,051,787
$ 10,678,976 $ 4,141,759 $ 156,532 $ 582,616
In addition, during 1999 Samsung Corporation executed exportation of 15,782,247 million and importation of 4,516,849
million of goods on behalf of the Company.
On July 20, 1999, Pan-Pacific Industrial Investments PLC (“PP”), a shareholder of Samsung Motors Inc., exercised its right to sell
certain shares of Samsung Motors Inc. to the Company in accordance with the joint-venture agreement established under the
court receivership application of Samsung Motors Inc. As a result of this exercise, the Company acquired 30,465,951 shares of
Samsung Motors Inc. and recognized an evaluation loss of 266,258 million.
20. Research and Development Cost:
Research and development cost incurred for the year ended December 31, 1999 comprise the following:
Thousands of Korean Won
Research expenses 806,465,213
Ordinary development expenses 785,874,334
1,592,339,547
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