Seoul

Samsung Group chief Lee Kun-hee died at age 78 on Sunday, more than six years after being hospitalised for a heart attack.

Shares in three Samsung affiliates held by the late group chief spiked in the morning session as investors bet that the senior Lee's death may facilitate a revamp of the governance structure at key affiliates, and his only son and group heir, Lee Jae-yong, will secure his grip on the country's largest conglomerate down the road.

Industry sources said the late Samsung Electronics chairman's scions may have to pay $8.85 billion in inheritance tax, reports Yonhap news agency.

Tech giant Samsung Electronics, the group's crown jewel, traded 0.17 per cent higher; C&T, the group's de facto holding company, jumped 14.42 per cent; and Samsung Life Insurance, which holds a stake in Samsung Electronics, rose 6.66 per cent.

As of end-June, the late chairman held a 4.18 per cent stake in Samsung Electronics, a 2.86 per cent stake in Samsung C&T and a 20.76 per cent stake in Samsung Life Insurance, among others.

The value of his stock holdings is estimated at some 18 trillion won.

Jae-yong, the de facto chief of the group, holds a 0.7 per cent stake in Samsung Electronics, 17.33 per cent in Samsung C&T and more stakes in other affiliates, with the combined value of his stock holdings totaling 7.1 trillion won.

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