Following some pressure from the public and government, Samsung has decided to sell its stake in iMarketKorea that provides procurement services and maintenance, repair and operations services. Samsung Electronics along with eight other affiliated companies will sell a combined stake of 58.7 percent in South Korea’s leading MRO company.
The decision to sell the stake is due to the belief that MRO competition is crippled when major companies give the order to their affiliated MRO firm. Also, it is speculated that MRO companies allow family-owned conglomerates to evade taxes.
Samsung however, has confirmed that the business with iMarketKorea will be unaffected despite the stake offload.
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