Korean stocks closed up, Monday, at the highest rate in almost four years on the back of a complete ban on short-selling that was reinstated to crack down on illegal market practices by global investment banks and protect retail investors.
Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed on Sunday.Since the death of late Samsung Chairman Lee .
Family members of Samsung Group, South Korea’s biggest conglomerate, are selling stakes worth some 2.57 trillion won ($1.97 billion) to pay their inheritance tax bill, according to a regulatory filing on Monday. Hong Ra-hee, the widow of the late former Samsung Group Chairman Lee Kun-hee, and her two daughters, Lee Boo-jin and Lee Seo-hyun, signed a trust contract with Hana Bank to dispose of stakes worth about.