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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.At the Samsung Electronics annual general meeting in Seoul, board chairman Kwon Oh-hyun said the firm had reviewed legal and tax issues around proposed division into a holding company and an operating unit, and identified "some negative effects".Various Samsung units have cross-shareholdings in other parts of the group, a byzantine structure that enables the Lee family to control the business empire, which has revenues equivalent to a fifth of South Korea's GDP.Groups including Samsung have increasingly become objects of public scorn as criticisms mount over their management practices, including rapid promotions for family members – some of whose antics have battered the firms' images.
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