Samsung Everland IPO Signals Revamp of Largest Korea Chaebol

Samsung Everland Inc. said it will seek an initial public offering, adding to evidence that the founding family of South Korea’s largest conglomerate will restructure the group to retain control.

Everland, a theme park and zoo operator that’s also the de facto center of Samsung Group’s business empire due to a network of cross shareholdings, will seek an IPO by the first quarter of next year, spokesman Kim In Cherl said by phone today. Samsung SDS Co. said last month it plans to list shares while Samsung SDI Co., a supplier of batteries to Apple Inc., earlier this year agreed to buy affiliate Cheil Industries Inc.