No heirs, no buyers: Korea's SME succession dilemma

As more aging founders of small and midsized companies in South Korea struggle to find heirs willing to take over, business succession is moving beyond inheritance tax planning into a broader challenge of building the financing, valuation and governance structures needed to keep viable firms alive, said Yoon Seong-hoo, general manager at Woori Bank's Corporate Succession Support Center. "Family succession remains the first choice for most business owners," Yoon said in a recent interview with Th

By The Korea Herald