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Business news, 19.03.2003 13:28

Samsung allocates USD one million to St.Petersburg anniversary celebrations

Samsung allocates USD one million to St.Petersburg Samsung Electronics has allocated USD 900 thousand to a water show which will take place on May 31 in St. Petersburg. A further USD 100 thousand will be spent on technical equipment for local journalists. 'This is our small contribution to the anniversary of a beautiful city. Participation in the 300th anniversary celebrations of St. Petersburg is part of Samsung Electronics' charitable work around the world,' announced the local company representative at a press conference in St. Petersburg yesterday.

Chairman of the Saint Petersburg Anniversary Fund Gulnara Sharazykova said that Samsung Electronics is the 'second large sponsor' of the city's anniversary. The first such sponsor was Xerox. Ms Sharazykova emphasised that there are other sponsors doing important work but not actually financing the city's programme of events. These sponsors include German company Ruhrgas, which has allocated USD 3.5 million to restoring the Amber Room and also Lenenergo, which is spending USD 3 million on illuminating the city. The Saint Petersburg anniversary fund has collected about USD 3 million in total for holding events. Sponsors are ready to provide a similar amount, although some of these contracts have not yet been signed.

Samsung Electronics is one of the leading companies in the world electronics industry. The company is based in Korea but has 83 enterprises around the world with over 66 thousand employees. The company is famous in St. Petersburg as a sponsor of the State Hermitage as well as orphanages, hospitals and schools. The restoration of the Bronze Horseman in 1998 was financed by Samsung Electronics and the company has also bought equipment for the regional children's hospital.

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