Samsung could fund $445 million for small businesses

The Korean Giant company Samsung announced that they could probably establish a $445 million fund which will be aimed for protecting small businesses. It will also hit the suppliers in its home country of South Korea. The newly elected president Moon Jae-in made efforts to take all major family-run conglomerates. It means that he limited the power of chaebols that were dominating the country’s economy. Also, there was a small scandal in Samsung with their chairman getting arrested, and because of that they are looking for a way to get back on feet.

The campaign could increase the minimum wage and make a number of other worker-friendly moves. With that, it could mean that Samsung could be looking for their future cooperative partners. The establishment of the funding was reportedly made in late 2016, and it could run for exactly 4 years, probably until May 2020.

The company is also in a process on its own, by reorganizing their operations in an effort to streamline their businesses and increase their profitability. They also expect that if they make new partnerships that it will also bring the faith in their users back again. After all, all of this campaign is still under a question because their chairman as we mentioned is in prison, and we will wait for any further details by them on this funding.