Samsung Stock Soars After Chief's Heart Attack

      May 15, 2014 11:55

      The Samsung owner family's stocks have soared around W800 billion since chairman Lee Kun-hee suffered a heart attack on Sunday (US$1=W1,026).

      This was due to surge in shares in Samsung Electronics, Samsung Life and Samsung Corporation that Lee and his family own.

      Samsung Electronics shares rose six percent over the last three trading days.

      The Chosun Ilbo on Wednesday tallied the value of shares held by Lee and his family and found that they were worth W14.9 trillion, up W802.4 billion last Friday.

      Lee's wife Hong Ra-hee and son Jae-yong, saw the value of their respective stakes in Samsung Electronics rise W87.2 billion and W67.2 billion.

      Shares of the affiliates surged because investors expect their management to be passed on to Lee Jae-yong since his father is seriously ill.

      As part of this shift, the Samsung Group is widely expected to revamp its Byzantine corporate structure.

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