SEOUL—Samsung plans to drastically simplify the conglomerate’s ownership structure in coming months, according to people familiar with the matter, untangling a controversial web that has long been criticized for benefiting the ruling Lee family at the expense of minority shareholders.
Two Samsung affiliates intend to sell off their roughly $1 billion stake in the conglomerate’s de facto holding company, Samsung C&T Corp., the people said. The moves are pending board votes at the two affiliates, Samsung Electro-Mechanics...