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Samsung head's shares valued over 14 tln won

All Headlines 09:42 October 08, 2016

SEOUL, Oct. 8 (Yonhap) -- Samsung Electronics Chairman Lee Kun-hee saw his stakes value surpass 14 trillion won (US$12.5 billion) for the first time, data showed Saturday, as shares under Samsung Group soared after U.S. hedge fund Elliott Management urged the tech giant to split into two.

According to the data compiled by industry tracker Chaebul.com, the combined value of shares held by Lee advanced 25 percent on Friday compared to the first trading session of 2016.

Market watchers said the increase came after Elliott also demanded Samsung Electronics to pay a special dividend, leading to an increase in stock price amid hopes that it could expand returns to shareholders.

South Korea's No. 1 tech giant also posted better-than-expected earnings for the third quarter, despite rising concerns sparked by the global recall of the Galaxy Note 7 phablet over faulty batteries.

AmorePacific CEO Suh Kyung-bae followed Lee with 9.3 trillion won, up 1.7 percent over the cited period.

Lee Jae-yong, the heir-apparent of Samsung Group and the only son of Kun-hee, ranked at No. 3 with 8 trillion won, also up 5.7 percent from Jan. 4, the data also showed. His father, meanwhile, has been hospitalized since May 10, 2014, after suffering a heart attack.

Samsung head's shares valued over 14 tln won - 1

colin@yna.co.kr
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