Russia » Economics

Samsung Allocates USD One Million to St. Petersburg Anniversary Celebrations - 19 March, 2003

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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