The world’s biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea’s wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring.
Following the embarrassing recall of the Galaxy Note 7 smartphone and under pressure from activist shareholders to improve corporate governance, Samsung Electronics said last year that it was considering splitting the company in two.
Its vice-chairman Lee Jae-Yong, the heir to the parent Samsung group, has since been arrested and indicted for bribery, along with four other senior executives, in connection with the graft scandal that saw ex-president Park Geun-Hye impeached.
But at the Samsung Electronics annual general meeting in Seoul, bo…
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