Her older brother Lee Jae-yong, whose official title in the conglomerate is vice chairman of Samsung Electronics, has been unquestioned as the heir of the biomedicine-to-semiconductors business group. He was arrested on charges that Samsung bribed the president's close friend, Choi Soon-sil, by donating to her foundations in return for business-related favors.

The youngest daughter, Lee Seo-hyun, oversees the group's fashion units.

The possibility of the older daughter taking over her brother's place was raised first by foreign media outlets that predict that Lee Jae-yong's absence will bring her to the fore.

Shares of Hotel Shilla have been rising this week.

Samsung officials dismissed such speculations, calling them stories created by people who do not know the inner workings of the company.

"Lee (Jae-yong) getting arrested does not mean there will be changes in the fundamental leadership at Samsung," an official said. "We will be doing our best to prove his innocence at the trial."

Another official said there was "no chance at all" that the older daughter will step up to manage Samsung.

An analyst at a local brokerage said the share price rise for Hotel Shilla will end as a "one-off" event. 

"The shares probably rose after baseless rumors about the siblings were followed by Lee Jae-yong's arrest," he said.

Hotel Shilla stocks closed at 47,400 won ($41.54) on Friday, up 0.96 percent, versus a 0.06 percent fall in the main KOSPI. (Yonhap)