World Jewelry Hub and Samsung Electronics Sign Cooperative Agreement

Apr 22, 2015 4:06 PM By Jeff Miller

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RAPAPORT... Samsung Electronics and the World Jewelry Hub signed a memorandum of understanding, pledging to cooperate strategically on providing added value to both organizations, as well as their to respective clients and stakeholders in Panama. The two expect to create a strategic alliance in order to develop and implement projects that provide mutual commercial benefits and encourage loyalty to both brands. In addition, the two organizations agreed to develop projects that will serve local communities and expand corporate social responsibiliti kim, izhakoff

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Samsung is headquartered in South Korea and produces a range of products from wearable devices, mobile phones and computers to household appliances, industrial machinery, digital appliances, media, semiconductors, memory and system integration. In Panama, Samsung has established a subsidiary that supports 24 countries in the Caribbean and Central America, as well as Ecuador and Venezuela, in different product divisions.

"At Samsung we leverage innovation to provide people the power of discovering new ideas, developing products that improve their lifestyles," said H.S. Kim, the president for the visual display division of Samsung. "It is an honor for Samsung to be able to partner with such an innovative organization, which is carrying out magnificent project, for Panama and the world."

Eli Izhakoff, the chairman of the World Jewelry Hub, said, "This is a milestone not only for the World Jewelry Hub, but for the Latin American jewelry and gemstone business as well. It is a tangible demonstration of support from a corporation that in the space of just several years changed the face of consumer electronics and it is a vote of confidence in the role that we and the Republic of Panama will play in the development of the world's next great jewelry market. Cooperation with Samsung can only strengthen our position."

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