Samsung Elec shares hit life-time high after Lee's heir promoted

SEOUL Tue Dec 4, 2012 9:54pm EST

SEOUL Dec 5 (Reuters) - Shares in Samsung Electronics extended gains to reach a life-time high of 1.447 million Korean won ($1,300) after the electronics giant promoted Jay Y. Lee, the son of its chairman and the anointed heir, to vice chairman on Wednesday.

The world's biggest smartphone maker had previously peaked at 1.443 million won per share on Nov. 26. ($1 = 1083.4500 Korean won) (Reporting by Hyunjoo Jin; Editing by Paul Tait)