⁍ Shares in Samsung C&T and Samsung Life Insurance rose as much as 21.2%.
⁍ Samsung BioLogics, Samsung SDS and Samsung Engineering also rose.
⁍ Lee was the wealthiest stock owner in South Korea.
– The death of Lee Kun-hee, chairman of Samsung Electronics, has set off a wave of speculation about who will succeed him as head of South Korea’s most valuable company. “The death of Lee Kun-hee is a great loss for South Korea and the world,” said a Samsung spokesman, according to the Wall Street Journal. “Samsung Electronics and Samsung Life are two of the biggest companies in the world, and the death of Lee Kun-hee will have a big impact on the entire South Korean economy.” Analysts say the death of the 71-year-old billionaire, the richest man in South Korea, is likely to lead to a shakeup of the company’s business strategy, Reuters reports. “The death of Lee Kun-hee is a big loss for Samsung Electronics, but the company’s business will continue as usual,” said an analyst.
Source: https://www.reuters.com/article/us-samsung-lee/samsung-affiliates-shares-rise-after-lees-death-sparks-hopes-of-shake-up-idUSKBN27B00Z