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Inheritance and Gift Tax & Corporate Governance

Overview

Our Inheritance and Gift Tax & Corporate Governance Practice consists of Korean and foreign attorneys, CPAs and other professionals with a wealth of experience and expertise in providing comprehensive advisory services concerning tax as well as legal issues such as property division, reserved inheritance, fair trade, commercial law and criminal law.  

In the context of corporate succession, inheritance and gift tax (“IGT”) could have a significant impact on corporate governance, which warrants a careful structuring of a succession transaction.  Our Inheritance and Gift Tax & Corporate Governance Practice has extensive experience in corporate governance restructuring and specializes in providing solutions for designing a corporate governance structure that would allow the most effective corporate succession with an optimal IGT planning. 

The collaboration of experts in our Inheritance and Gift Tax & Corporate Governance Practice enables us to offer a one-stop service for legal and tax advice on corporate governance structure and corporate succession.

Key Servicesshow

  • Enhance the corporate governance structure to strengthen control (including conversion into a holding company)
  • Enhance the corporate governance structure to save on succession costs (non-listed holding company structure, etc.) 
  • Advise on spin-off of affiliated companies in advance to form a basis of the second generation succession structure (split-off, exchange of securities, etc.)
  • Review initiation of new business lines (use of business opportunities, increase in value of property, gift/comprehensive gift, etc.)
  • File inheritance/gift returns (filing of relevant forms, tax audit support, etc.)
  • Advise on inheritance/gift (family business inheritance deduction, conversion into a real estate company, inheritance tax on business funneling, etc.)

Key Experiencesshow

Below is a list of our Practice’s representative works. 

 
  • Advisory service on the filing of inheritance tax return and division of inheritance property for a major shareholder of a conglomerate 
  • Advisory service on the filing of inheritance tax return and division of inheritance property for an individual with substantial real estate 
  • Advisory service on a share transaction between major shareholders of a conglomerate, including a review of share transfer methods 
  • Corporate governance restructuring of a mid-sized clothing manufacturing group 
  • Corporate governance restructuring of a conglomerate 
  • Corporate governance restructuring of a mid-sized chemical company 
  • Global restructuring of a mid-sized fashion group 
  • Split-off and corporate governance restructuring of an automotive parts company 
  • Returning of title trust stock of an automotive parts company and conversion into a holding company 
  • Real estate development, corporate conversion and corporate governance restructuring of a construction company 
  • Vertical spin-off, split-merger and conversion into a holding company for a distribution company 
  • Spin-off, conversion into a holding company and advisory service on IGT of business funneling for an automotive parts company 
  • Advisory services on returning of title trust stock and succession of management rights for a biopharmaceutical company 
  • Advisory services on inheritance and succession of management rights, IPO,  origination of PEF investments and other related matters for a manufacturing company of clothing products 
  • Advisory services on corporate governance optimization for a clothing and sports equipment company 
  • Many other advisory services on corporate governance enhancement for other major conglomerates and mid-sized companies

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