Business Succession Services
A precious family business built over a lifetime must continue. Seohyun possesses top-notch expertise in the field of business succession.
Business Succession Services
Introduction to Business Succession Services
1. Overview of Business Succession Services and Seohyun’s Strengths
The method of business succession varies depending on the situation of the company, so there is no uniform model that can be applied. Therefore, the most important aspects are the highest level of expertise and experience in carrying out the work.
Seohyun operates the industry’s first dedicated headquarters for property tax (inheritance, gift, transfer). We boast the highest record of inheritance and gift tax cases, and possess top-level expertise in business succession.
Seohyun’s business succession team is comprised of tax accountants with National Tax Service experience, specialized certified public accountants, and specialized lawyers. Numerous companies have achieved successful business succession with Seohyun’s customized strategies. The joy of seeing a company built over a lifetime continue to grow across generations is possible with Seohyun.
2. Business Succession Service Process
STEP 1. Status Analysis
- Assess current assets, personal details, family relations, sources of funds, and income
- Conduct basic analysis for tax planning
STEP 2. Asset Content Analysis
- Calculate expected taxable amount according to tax regulations
- Estimate expected taxes if all assets were inherited or gifted before tax planning
STEP 3. Establishing Gift Intentions
- Decide on recipients, forms of gifts, assets to be gifted, and the scale of the gift
- Review existing cases and plans for dealing with property status before and after the gift, and contingency plans
STEP 4. Tax Planning
- Present various alternatives and estimate pre-tax amounts for each case
- Develop long-term, medium-term, and short-term tax planning according to the composition of assets
STEP 5. Implementation and Modification of Tax Plans
- Prepare for changes in circumstances and contingencies after establishing tax plans
- Post-gift follow-up such as responding to tax audits
3. Simple Business Succession Diagnosis
Until now, it was difficult for companies to determine whether they met the requirements for business succession deductions without receiving professional consulting due to the complexity of tax laws related to business succession.
To alleviate this inconvenience, Seohyun's dedicated business succession team offers the industry’s first "Simple Business Succession Deduction Diagnosis Kit," which allows clients to easily determine whether they qualify for the business succession deduction.
Clients wishing to know if they are eligible for the business succession deduction can request a diagnosis from our dedicated team, either free of charge or for a nominal fee (for on-site diagnosis).
You can make a request byphone (02-3011-0707) or email (jeehoon.shin@shcgr.kr), and there is no need to meet our dedicated team face-to-face. We look forward to your use of this service.
- Simple Business Succession Diagnosis Process
- Request by phone or email (choose between visit or online diagnosis)
- Pre-questionnaire sent by email
- Complete and submit the questionnaire
- Receive diagnosis on eligibility for business succession deduction (if not eligible, receive guidance on supplementary measures to meet requirements)
Major Performance
- Provided strategic advice on improving governance and business succession structure through transitioning to a holding company system
- Advised on vertical integration of investment structures to resolve excessive real estate company issues and legally minimize gift tax through share transfers
- Maximized share transfer effects by merging the general business sector after in-kind contributions of real estate, etc.
- Resolved comprehensive gift tax issues by gifting controlling shareholders' shares to the top-level corporation
- Advised on procedures for splitting and succession of control companies among children through the division and merger of overseas business units
- Provided advice on governance and succession procedures to secure necessary funds for succession by utilizing retained earnings, considering dividend tax system
- Maximized the value of succession companies and advised on succession procedures using mergers with parent companies through proper valuation of goodwill, etc.
- Developed strategies for governance restructuring and succession support through the acquisition and cancellation of treasury stocks
