Business

Samsung to hold its annual shareholders’ meeting despite COVID-19 concerns

It is being reported that Samsung Electronics has decided to conduct its annual shareholders’ meeting despite concerns related to the deadly COVID-19 outbreak. The company says that it is prepared with countermeasures to stop the spread of the disease at its meeting.

The company’s annual shareholders’ meeting will be held on Wednesday at Suwon Convention Center in Suwon, Gyeonggi Province in South Korea. Samsung has arranged around 2,000 seats for the meeting. Last year, there were only 1,000 seats at the event, but over 1,200 shareholders attended the annual general meeting.

The South Korean firm had urged its shareholders to make extensive use of the voting system to avoid the potential spread of the virus. The company has also prepared for a thermal screening process, and all the shareholders attending the meeting will have to go through it. Samsung has also made it mandatory for all the attendees to wear masks.

The company had to cut down its MWC 2020 presence due to the COVID-19 outbreak. The pandemic also forced the company to shut down its factoriesplants, and stores. Samsung has donated around $24.6 million to contain Coronavirus in South Korea.

There were around 610,274 shareholders in Samsung Electronics by the end of 2019. The company will open votes on the financial statements of last year and re-appoint two new board directors: Han Jong-hee (president of the display business) and Choi Yoon-ho (president of the business support team).

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