Samsung heirs' gift taxes down on faltering share prices

The heirs of de facto head of Samsung Electronics Co. Lee Kun-hee, who has been hospitalized since May, faced a nearly 10 percent cut in their inheritance taxes over the past three months on a fall in the company's share prices, data showed Thursday.
If Lee's shares in Samsung Electronics are transferred to his offspring -- his son Jay-yong, who is forecast to be the heir apparent, and his two daughters, Boo-jin, and Seo-hyun -- their gift taxes are estimated at 3.71 trillion won (US$3.62 billion), down 9.41 percent from 4.15 trillion won posted on June 3, when shares reached their yearly high.