Samsung 2002 Annual Report Download - page 50

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51
December 31, 2002, the shares in Samsung Life Insurance Co., Ltd. were not sold. As of the balance sheet date, the ultimate effect of these mat-
ters on the financial position of the Company cannot presently reasonably be determined.
As discussed in Note 25 to the accompanying financial statements, the Company had sales amounting to ￦1,621,168 million and
US$18,203,794 thousand to subsidiaries and affiliated companies within the Samsung Group during the year ended December 31, 2002. Related
accounts receivableas of December 31, 2002, amounted to ￦437,023 million and US$116,636 thousand.
The amounts expressed in U.S. Dollars are provided solely for the convenience of the reader and have been translated on the basis set forth in
Note 3 to the accompanying financial statements.
Accounting principles and auditing standards and their application in practice vary among countries. The accompanying financial statements are
not intended to present the financial position, results of operations and cash flows in accordance with accounting principles and practices general-
ly accepted in countries and jurisdictions other than the Republic of Korea. In addition, the procedures and practices used in the Republic of Korea
to audit such financial statements may differ from those generally accepted and applied in other countries. Accordingly, this report and the accom-
panying financial statements are for use by those who are knowledgeable about Korean accounting principles or auditing standards and their
application in practice.
Seoul, Korea
January 30, 2003