Oct 26, 2020

Samsung shares rise on hopes of a shake-up after death of chairman

Samsung shares have risen on speculation that the heirs of chairman Lee Kun-hee could be forced into asset sales or dividend payments in order to pay a massive inheritance tax bill. Mr Lee, who helped to build Samsung into Korea's largest conglomerate, died over the weekend aged 78. He owned major stakes in the conglomerate's crown jewel Samsung electronics, as well as the holding company Samsung C&T, Samsung Life Insurance and Samsung SDS. Mr Lee is survived by his wife, Hong Ra-hee, his son Lee Jae-yong and his two daughters, Lee Boo-jin and Lee Seo-hyun. Samsung's affiliates might also pay higher dividends, leaving more money for the younger generation of Lees to pay the bill. Speculation over the future of Samsung following Mr Lee's death has stirred investor interest over various units of the conglomerate.

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