succession Archives | Be Korea-savvy
High Taxes and Social Perceptions Challenge Family Business Succession Among Export Companies

High Taxes and Social Perceptions Challenge Family Business Succession Among Export Companies

SEOUL, Jan. 29 (Korea Bizwire) – Executives of export companies believe that family business succession is crucial for the sustainability and responsible management of their enterprises. However, a recent study reveals that due to heavy tax burdens and negative social perceptions, many are contemplating selling or shutting down their businesses.  A report from the Korea International [...]

Key Samsung Units Surge as Succession Issue Looms Following Group Chief’s Death

Key Samsung Units Surge as Succession Issue Looms Following Group Chief’s Death

SEOUL, Oct. 26 (Korea Bizwire) — Shares in Samsung Group’s key affiliates closed higher Monday on expectations that they may increase dividend payouts to help the late Samsung chief’s scions secure funds to pay record high inheritance taxes and they may overhaul their governance structures. Samsung Group chief Lee Kun-hee died Sunday at age 78, [...]

Family Succession at a Megachurch in Korea Faces Harsh Criticism

Family Succession at a Megachurch in Korea Faces Harsh Criticism

SEOUL, Aug. 31 (Korea Bizwire) — Negative sentiment is growing against a family succession plan at Myungsung Church, one of the biggest churches in Korea by congregation size. The Presbyterian church located in the southeastern district of Gangdong-gu, Seoul, is at the center of controversy, after Reverend Kim Ha-na was named lead pastor. Kim Ha-na is the [...]

Father-to-son Succession Sees S. Korea’s Biggest Christian Church Under Fire

Father-to-son Succession Sees S. Korea’s Biggest Christian Church Under Fire

SEOUL, Aug. 16 (Korea Bizwire) — What started as a humble congregation of 20 Christians at a fringe neighborhood in Seoul 40 years ago has now grown into arguably the world’s biggest Presbyterian church. Myungsung Church now stands on tens of thousands of square meters of land in the southeastern district that became a populous [...]