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10/26, 3:39 AM (Source: TeleTrader)
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Samsung unit stocks rise after group owner's death

The stocks of Samsung Group's affiliates, including Samsung Electronics, Samsung C&T and Samsung Life Insurance surged on Monday in Seoul as shares reacted to the death of chairman Lee Kun-hee.

Media reports suggested Lee's death means the companies will likely increase dividends as Lee's heirs are facing over $8 billion in inheritance taxes.

Samsung Electronics was up 0.66% at 3:16 am CET and Samsung C&T, the group's holding company, surged 16.83% at the same time. Meanwhile, Samsung Life Insurance gained 6.02% at 3:17 am CET.

Breaking the News / VP