SEOUL -- Samsung Electronics' chief said on Wednesday that his children will not inherit control of the world's largest smartphone maker, vowing not to "cause controversies over succession anymore" at the tech conglomerate.
"I will not bequeath corporate control to my children. I have had this in mind for a long time, but have been reluctant to reveal it," Lee Jae-yong said at an abruptly scheduled press conference. "I will not abuse loopholes in the law in relation to the succession of corporate control, or do anything that can be criticized ethically."
