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Samsung Stock Prices Rise due to Chairman Lee Kun-hee’s Death Rumor

Lee Kun-hee

Rumors have it that the Samsung Group Chairman Lee Kun-hee’s health has been deteriorating and this have helped in increasing the Samsung Group stock prices.

As soon as the rumor started to spread that the media is preparing articles on Lee’s death the Samsung Group officially denied these rumors. However the rumors have sparked stock firms to talk about Lee health problems.

The next month will mark a full year since Lee underwent a surgery for an acute myocardial infarction. Yesterday when the rumor started to spread the stocks of the Samsung owner’s family increased.

The Cheil Industries saw an increase that took their ceiling at a price of $64.02. Apart from this the stock price of Samsung SDS has also increased byS12.31 or by 5.27 percent and reached $245.76. Moreover the Samsung C&T had increased by $2.37 or 4.26 percent to $58.

The children of Samsung Chairman, Lee Kun-hee including the Vice Chairman Lee Jae-young have a significant number of shares in the Cheil Industries and Samsung SDS.

The Samsung Electronics Vice Chairman Lee Jae-young is the largest shareholder, having 23.25 percent of the shares in the company. Apart from his shares his sisters, the president of Cheil Industries Lee Seo-hyun and Hotel Shilla CEO Lee Boo-jin have 7.75 percent of the shares each in the company.

Now coming to the Samsung SDS Vice Chairman Lee Jae-young has an 11.25 percent share in the company while his sisters enjoy 3.9 percent shares each. Apart from this the stock owned by Chairman’s Lee’s wife, Hong Ra-Hee also experienced a sudden increase in the price.

Her increased prices of shares are in CoreLogic, Pheonix Materials and STS Semiconductor. According to many business and stock industries the rumor about the death of the Samsung Chairman was believed to be spread by a specific power in order to take a margin from Samsung related stock prices.