South Korea's Samsung previously announced that the company would provide up to KRW2.6 trillion, which is about CNY15.3 billion, aid to Chinese suppliers who are affected by the coronavirus epidemic.
Samsung's aid plan would include paying for undelivered orders of suppliers in advance and providing loans with zero or low interest rates to suppliers who have cash flow difficulties.
Samsung also said that for shipments that used to be delivered by land or sea, if the suppliers need to ship by air due to urgency, Samsung would pay for the logistics costs.
In addition, if Samsung's Chinese suppliers wanted to expand parts procurement channels after the outbreak, Samsung would shorten processing time and simplify necessary procedures. Samsung will also share logistics and customs updates with suppliers and start to run a support center.
It is said that Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung SDI, Samsung C&T, and Samsung SDS will all participate in the aid.