According to South Korean media reports, Samsung's subsidiary Samsung Card has filed a document with the Korea Exchange (KRX) last Thursday showing that it plans to sell its stake in Renault Samsung Motors. Samsung Card reportedly holds a 19.9 percent stake in Renault Samsung, making it the second-largest shareholder.

Renault Samsung Motors, formerly known as Samsung Motors, was founded in 1994. In 1998, Samsung Motors was spun off by the group due to the Asian financial crisis, which led to a takeover negotiation with Renault in the same year. Samsung Motors later became a joint venture of the two companies and changed its name to Renault Samsung Motors.

After Samsung's withdrawal from the joint venture, it is reported that the word "Samsung" will be removed from the name of the joint venture.

Although Samsung withdraws from its vehicle business, the company's auto-related business has not been reduced. With the rapid development of electric cars and smart cars, Samsung Group has a lot of involvement in batteries, automotive semiconductors, and other related fields.