You often hear of things like art or classic cars increasing in value after their creators pass on, but it may come as a surprise to hear that Samsung‘s stock prices have risen after rumors have begun spreading about the death of Samsung Groups’ Chairman, Lee Kun-Hee. It’s been said that the less than perfect health of Lee Kun-Hee is widely known, and past the rumors about his death speculation has already began that the rumors were spread deliberately in an attempt to get the stock prices to rise. Whether or not there is any truth to that is unclear at this time, but Samsung has been actively denying any rumors of Lee Kun-Hee’s death.
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According to the source, Korean media outlets are already preparing articles about the situation, and the region is also the apparent source of the rumors. Lee’s health has been dwindling in more recent times, although it has been reported that a year has almost passed since Lee Kun-Hee underwent surgery for an acute myocardial infarction, otherwise known as a heart attack or simply an AMI. Part of the rumors seem to have been fueled by his absence at an annual general meeting just last month. Although it is unknown at the moment who or where the rumors have explicitly originated from, stock nearly immediately rose yesterday when the rumors began, and this includes the stock for Lee Kun-Hee’s family as well as Vice Chairman Lee Jae-Yong.
The stock price hike includes that of Cheil Industries, which rose to a price of 70,200 Won which is about $64.02 per share.The stock prices of Samsung SDS also raised to a price of 269,500 Won or $245.76, which is an increase of 5.27 percent, equal to a monetary increase of 13,500 Won or about $12.31. The last set of stock prices that rose were for Samsung C&T, which had increased by 2,600 Won or $2.37 with a stock price of 63,600 Won or about $58. The majority of the shares are all held by family members of Lee Kun-Hee, which is likely a big part of the reason why those inside of the business and stock industries believe the rumors were spread intentionally and in hopes of this outcome.