SEOUL, July 31 (Korea Bizwire) — Over the past year, more than two-thirds of South Korea’s top 50 family-run conglomerates have undergone notable shifts in ownership structure, with approximately 1 trillion won (US$750 million) worth of shares transferred—largely through inheritance and gifts to heirs, signaling a new wave of succession planning. According to corporate tracker [...]
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 [...]
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, [...]
SEOUL, April 29 (Korea Bizwire) — Kim Yo-jong, the younger sister of North Korean leader Kim Jong-un, has been seen exerting increasing clout in Pyongyang as of late, raising the possibility of her succeeding her brother amid speculation that he may be ill, a legislative think tank assessed Wednesday. In an analysis report of the [...]
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 [...]
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 [...]