가업승계지원을 위한 지방세제도 개선방안

남지현 한국지방세학회 2017 지방세논집 Vol.4 No.1

As the first generations that have led the industrial development gradually become aged, there is growing interests in how to smoothly transfer them to the second generation while maintaining identities of corporations. This is called 'family business succession' or 'inheritance of family business', especially 'family firms' take many attentions. The family business succession depends on the method of using the gift and inheritance in civil law, using corporation and stock system in commercial law. And recently the Trust Act has been revised and a method of using the "trust as substitute for will" and "trust with successive beneficiaries" is emerging. As for the support for the family business succession, there are negative opinions because of "wealth of wealth" or closed management. However, it is necessary that the maintenance and development of the company through the guarantee of the continuity of the company should be promoted not only for the company itself but also for the national economic growth. The most effective way to support the family business succession is the support of the tax system. “The inheritance tax and gift tax law” and “The special tax treatment control law” are promoting the family business succession by providing such systems as ‘Inheritance tax relief for business succession ’ and ‘Gift tax exemptions’. However, the discussion in the local tax is still lacking. Korea's tax system is divided into national tax and local tax. The details are different but it shows the form of correspondence between the contents of systemand regulation. Therefore, there is a benefit to examine the improvement plan of the local tax in harmony with the national tax. First, unlike the national tax, the local tax does not have any explicit reference to the family business succession. However, according to the "Act on the regulation of special exemptions to local taxes" there are exceptions to some cases which is actually used to the family business succession such as business mergers and divisions. In this case, however, the relevant regulations exist sporadically. Therefore, it is possible to think about collecting the method of the family business succession and the related tax system together with the independent clause to promote unity with the national tax and to manage the succession tax system effectively. Next, related to the family business succession, the ‘acqusition tax’ is especially be the issue in the local tax system. This is because of the transfer of property due to the family business succession. As for the acquisition tax, it is possible to consider flexible management of the acquisition tax payment period in consideration of the period of stable management after the family business succession. In the case of a trust, it is necessary to establish a clear rule for the time when the beneficiary acquires the trust property. Interest in the family business succession is increasing and various methods for family business succession, such as using trust, is expected. The improvement of the tax policy should be done as soon as possible. And it should be done in parallel with the local tax as well as the national tax to accomplish the goal of succeeding the family business succession smoothly. 산업발전을 이끌어 온 1세대들이 점차 고령화되어 가면서 기업의 동일성을 유지하면서이를 원활하게 2세대로 이전하는 방안에 대한 관심이 증대되고 있다. 이를 ‘가업승계(家業 承繼)’ 또는 ‘가업상속(家業相續)’이라 하며, 특히 ‘가족기업(家族企業)’에서 관심이 높다. 가업승계는 민법 상 증여와 상속을 이용하는 방법, 상법 상 법인과 주식에 대한 제도를이용하는 방법이 있고 최근 신탁법의 개정으로 신탁법 상 ‘유언대용신탁’과 ‘수익자연속신탁’을 이용하는 방법이 대두되고 있다. 가업승계지원에 대해서는 ‘부의 대물림’이나 폐쇄적 경영 등을 이유로 이를 부정적으로보는 견해도 있으나, 기업의 계속성 보장을 통한 기업의 유지ㆍ발전은 기업 자체 뿐 아니라 국가경제적 관점에서도 장려되어야 할 필요가 있다. 가업승계지원의 가장 효과적인 방안으로는 세제의 지원을 들 수 있으며, “상속세 및 증여세법”과 “조세특례제한법”에서 ‘가업상속공제’와 ‘증여세과세특례’등의 제도를 두어 가업승계를 장려하고 있다. 그러나 지방세에서의 논의는 여전히 부족한 실정이다. 우리나라의 세제는 국세와 지방세로 이원화 되어 있고, 세목을 서로 달리하지만, 체계와규정의 내용 상 서로 대응되는 형태를 보이고 있다. 따라서 국세와 조화를 도모하는 방향으로 지방세의 개선방안을 검토해볼 실익이 있다. 먼저 지방세 제도의 체계와 관련하여 지방세에서는 국세와는 달리 ‘가업승계’에 대한 명시적인 언급이나 특별한 규정이 존재하지 않는다. 그러나 “지방세특례제한법”에 의하면 기업의 합병, 분할과 같이 실질적으로 가업승계로 이용되는 몇 가지 경우에 대한 특례가 존재하고 있다. 그러나 이 경우에도 관련 규정이 산발적으로 존재하고 있을 따름이다. 따라서 국세 체계와의 통일성을 도모하고, 가업승계세제의 효율적인 관리를 위하여 ‘가업승계’ 에 관한 독립된 조항을 두고 아래에서 가업승계 방식과 그에 따른 세제를 일괄하여 정리하는 것을 생각해볼 수 있다. 다음으로 가업승계와 관련하여 지방세에서 문제되는 세목으로는 ‘취득세’가 있다. 가업승계에 따른 재산의 이전이 발생하기 때문이다. 취득세에 대해서는 우선 가업승계 이후 경영이 안정화되는 기간을 고려하여 취득세의 신고ㆍ납부기간을 정비하는 방안을 검토해볼 수 있다. 또한 가업승계의 다양한 유형 중 하나인 신탁의 경우 수익자의 신탁재산 취득시기에 대한 명문의 규정을 두어 현재는 유권해석에 의하고 있는 수익자의 취득세 납세의무 성립시기를 명확히 할 필요가 있으며 아울러 신탁법과 관련된 법제 전반에 대한 검토도 필요하다. 가업승계에 대한 관심이 높아지고 신탁 등 여러 가지 방법에 의한 가업승계가 예상되는만큼 세제의 정비도 빠른 시일 내에 이루어져야할 것이다. 그리고 세제의 정비는 국세 뿐아니라 지방세에서도 병행하여 이루어져야 가업승계라는 목표를 원활히 달성할 수 있을 것이다.

가족기업의 승계프로세스 관련 이해관계자별 영향요인에 관한 문헌검토

김선화 ( Sun Hwa Kim ),남영호 ( Young Ho Nam ) 한국중소기업학회 2011 중소기업연구 Vol.33 No.3

Family firms play a significant role in the global economy, but despite their importance, research evidence points to their low survival rate. Therefore, it is not surprising that management succession is the most frequently researched topic in family business literature. While acknowledging that there are various definitions of a family business, in this article we follow the premise that it is a business governed and managed by members of the same family in a manner that is potentially sustainable across generations of the family. The succession process involves the actions, events, and developments that affect the transfer of managerial control from one family member to another. Successful management succession for a family firm consists of two interactive dimensions. The first is the family members` satisfaction with the way the succession process is carried out. The other relates to how the succession affects the subsequent performance of the firm. Satisfaction with the succession process is crucial because of its direct impact on the relationships between family members and on effectiveness. The relationship between satisfaction and effectiveness is likely to be inter-temporal in nature. According to the Korea Federation of Small and Medium Business, almost 70% of family companies established between 1970 and 1980, during the era of rapid economic development, will be facing business succession during the next 10 years. However, research into family businesses succession is rare in Korea. The purpose of this study is to review literature on family business succession, and take a more comprehensive and integrative approach to the succession process and the stakeholders` perspectives. To examine the stakeholder factors effectively, we have studied 55 articles taken from the Family Business Review (FBR) between 1988 and 2010. We first analyzed the factors that influence successful transition by stakeholders, then classified the succession process and integrated the key stakeholders` roles at each stage of the process. The succession process in a family firm involves numerous participants, with the key stakeholders being the incumbent, successor, family members, and non-family managers. We analyzed the factors that influence successful succession and summarized the relative frequency of the most common findings from the literature we reviewed. One of the most frequently mentioned factors was incumbent attributes, characterized by the quality of the relationship with the successor (36%), effectively communicated and shared values for the future of the family business between family member and successor (24%), willingness to let go (18%), and knowledge transition, nurturing and development of the successor (16%). An equally important category is that of the successor. Variables or dimensions such as the successor`s management ability (20%), willingness to take over (20%), early exposure to the family business (13%), the successor`s attributes (13%), outside work experience (7%), and gaining legitimacy and credibility in the eyes of the stakeholders (5%) are viewed as critical to a successful succession. So is the quality of the relationship inside the family, including harmony (22%), family members` trust in the potential successor (16%), and commitment to the family business (11%). Another often mentioned but little characterized category was the non-family manager, as the employee`s trust in the successor (18%) is also revealed as an important factor. In summary, the most frequently mentioned factor for a successful succession in the literature we reviewed is the quality of the incumbent-successor relationship. Succession is to be viewed as a process, not an event, and must be fully understood and internalized from the perspective of the key stakeholders involved. A straightforward seven-stage model of succession in a family business, based on the successor, has been developed by Longenecker and Schoen. Churchill and Hatten proposed a four-stage life cycle approach to succession, while Handler put forward a four-stage process for the role adjustment required between predecessors and next-generation family members during succession. If taken together, the models described by the researchers allow the process to be divided into four stages. In the first stage, the owner is the only family member involved in the business. The second stage comprises a training and development period for the successor, while the third stage is a partnership period in which the owner shares the leadership of the business with the successor. Finally, the fourth stage involves the power transfer, in which responsibilities shift to the successor. However, some researchers have suggested there is a critical point in the process at which the successor needs to take charge, located somewhere between stages three and four in the model. In this research, we tried to develop an integrated framework for the succession process that includes important variables with regards to the key stakeholders-incumbent and successor-at each stage. This included a period of phase-in and out between stages three and four as suggested by some researchers, meaning the succession process is actually divided into five stages. We then integrated the role of the incumbent leader and successor in each stage as follows. In the first stage, the incumbent is a sole operator and the successor has no role in the business. At this point, researchers recommend the successor`s early exposure to the business, and working part-time within it. During the second stage, we view the incumbent as ruler and the successor as helper. The incumbent`s role is to transfer knowledge and train the successor, and the successor starts working outside of the family firm or working full-time within the family business at the entry level. The third stage is the partnership period between incumbent and successor. Here the incumbent has six roles (supervisor, teacher, protector, introducer, mobilizer, and collaborator), while the successor has a managerial role. The incumbent relinquishing control, commensurate with the growth in the successor`s ability and authority, occurs during the fourth stage. This is the healthy, mutual role adjustment pattern that precedes a smooth succession. Finally, in the fifth stage, the incumbent becomes a mentor and advisor, and the successor becomes the leader of the organization. Contrary to other theoretical models in which the final phase is characterized by the definitive withdrawal of the predecessor from the firm, we suggest they take on the roles of safeguard and observer to the organization, and mentor and advisor to the successor. In this study, in order to systematize the succession process in a family business, we reviewed previous studies on family business succession and suggested a succession process framework. However, there may be limitations in applying the framework directly to Korean family firms because all the literature was based on Western family businesses, which possess different cultural backgrounds. In order to apply this study to Korean family firms, some case studies appropriate for the specific cultural framework are required. Nevertheless, we expect this paper to be helpful for owners preparing for business succession, as there is a scarcity of articles and books describing this process in Korea. Furthermore, it will be helpful to researchers studying family business succession in the future.

가업승계와 승계유형이 기업의 이익조정과 조세회피에 미치는 영향

윤유진,이현아 글로벌경영학회 2022 글로벌경영학회지 Vol.19 No.4

Succession in family business by inheritance or gifting of the ownership plays an important role in the economic development by maintaining company’s sustainability through the transfer of internal business expertise and accumulated technology. Nevertheless, the ownership transfer process in the Korean family businesses has largely been hindered by the imposition of a high inheritance tax. In this context, this study analyzes the level of earnings management and tax avoidance before and after the ownership succession in these companies. In particular, the family business succession is classified into ownership succession and management succession in order to highlight the difference in the level of earnings management and tax avoidance. The study conducts a multiple regression analysis for a sample of 9,361 firm-year observations of external audit companies from 2004 to 2018 to present the following results. First, the level of earnings management falls after the succession of family business. Second, the decrease in the level of earnings management after succession is greater for the ownership succession than for the management succession. Third, there is little impact on the level of tax avoidance by the succession of family business. Lastly, the ownership succession in family business tends to be accompanied with higher level of tax avoidance than the management succession. These results suggest that family business succession is likely to lead to stable management performance in the long-term perspective, while the taxable benefits in the succession process may not be effective for the Korean family businesses. In addition, it is suggested that the levels of earnings management and tax avoidance can be differed by the type of family business succession because succeeding managers tend to pursue different goals depending on the type of succession. This study will provide useful information to various stakeholders regarding family business succession and encourage the smooth transmission of family businesses to the younger generation in Korea. 가업승계는 기업이 동일성을 유지하면서 상속이나 증여를 통하여 그 기업의 소유권 또는 경영권을 후계자에게 이전함으로서 축적된 기술과 경영 노하우를 지속가능하게 하고 경제 활성화에 중대한 영향을 미칠 수 있는 사안이다. 하지만 현행 세법에서 규정하고 있는 다양한 가업승계 지원제도에도 불구하고 기업들은 현실적으로 승계로 인한 막대한 조세부담으로 인하여 원활한 가업승계에 어려움을 겪고 있다. 이러한 배경 하에 본 연구는 가업승계기업의 승계 전·후의 이익조정 및 조세회피 수준을 분석하였으며, 가업승계 유형을 소유권 승계와 경영권 승계로 세분화하여 승계 전·후의 이익조정 및 조세회피 수준 차이를 분석하였다. 2004년부터 2018년도까지 외부감사대상법인을 대상으로 다중회귀분석을 수행한 결과는 다음과 같다. 첫째, 가업승계법인의 승계 후 이익조정 수준은 승계 전에 비해서 낮은 것으로 나타났다. 둘째, 승계 후 이익조정 수준의 감소는 소유권 승계기업이 경영권 승계기업보다 더 큰 것으로 나타났다. 셋째, 가업승계법인의 승계 전과 승계 후에 조세회피 수준은 유의한 차이가 없는 것으로 나타났다. 넷째, 승계 후 조세회피 수준은 소유권 승계기업이 경영권 승계기업보다 큰 것으로 나타났다. 본 연구의 결과는 가업승계가 장기적인 관점에서 안정적인 경영성과를 가져올 수 있으며, 가업승계지원제도의 세제혜택이 기업에 미치는 영향이 크지 않음을 시사하고 있다. 또한, 가업승계 유형에 따라 신임경영자가 추구하는 바가 다르기 때문에 승계 유형이 기업의 이익조정과 조세회피 수준에 영향을 미칠 수 있음을 보이고 있다. 본 연구는 가업승계에 많은 관심을 가지고 있는 다양한 이해관계자들에게 유용한 정보를 제공하고 원활한 가업승계를 위한 도움이 되는 자료로 활용될 수 있을 것으로 기대한다.

가업승계 세제의 실효성 확보 방안 연구

정래용 ( Rae Yong Jung ),강내철 ( Na Chul Kang ) 홍익대학교 법학연구소 2016 홍익법학 Vol.17 No.3

The smooth succession of family businesses has significance in terms of corporate sustainable development. For this reason, the government introduced the tax deduction for family business succession for the first time in 1997 and special provisions on gift tax for those who succeed family businesses in 2008. According to statistical data provided by the Nation Tax Service, however, the number of applicants for the tax deduction for family business succession has been extremely low, recording only about 60 cases (or about 70 cases if those under tax threshold are included) per year although there are around 20,000 family enterprises that are potentially to be inherited to owners` children, questioning the effectiveness of the taxation system of family business succession. In addition, despite the large number of side effects caused by the incompetence of successors such as moral hazard, the current taxation system does not have provisions to prevent them. For this reason, this study proposes a compulsory measure to enforce accounting firms to verify the appropriateness of family business succession in order to encourage the effective preparation for inheriting a family business and an alternative taxation system to allow family business succession to a third person other than children as well as additional tax benefits related to family business succession. The policies suggested by this study for the purpose of increasing the effectiveness of the taxation on family business succession are summarized as follows. First, as a part of additional benefits and the measure to ease the regulations on family business succession, the special taxation rate for gift tax needs to be reduced to 5% (10%) from the present 10% (20%) and the provision that requires the successor to become the president of the inherited company within 5 years from the inheritance needs to be abolished. There should also be one-time-only opportunity for the current successor to find other person who can inherit the family business without the risk of being imposed additional gift tax. In addition, it is necessary to exempt the additional tax rate that is imposed as a kind of interest when gift tax is levied because the successor does not meet the post management requirements during the preparation of family business succession, or reduce it to the level of the additional rate of national taxes. Second, the confirmation of the appropriateness of family business succession from an accounting firm needs to be obligated when applying for the tax deduction for family business because it is desirable that the aberrational behaviors or moral hazard of successors are checked by an internal control system although their management abilities or morality are difficult to be evaluated in an objective manner. Third, given various situations where family businesses cannot be inherited by children, a systematic method with tax benefits that allows a family business can be inherited by a third party other than children such as the current professional manager or an M&A fund.

가족기업 승계 지원정책의 현황과 발전방안

조병선 ( Byung Sun Cho ),조봉현 ( Bong Hyun Cho ) 한국중소기업학회 2011 중소기업연구 Vol.33 No.3

The weight of family business taking a share in a national economy is very high and family business contributes significantly to the creation of wealth, the provision of job opportunities, the national economy and social stability. As society is advancing into an aging one, business succession for enterprises that were established during the 60~70s is being magnified as the biggest pending management issue for family enterprises. According to a survey carried out by the Korea Federation of Small/Medium Businesses targeting 500 small/medium manufacturing enterprises with a regular employee size in the range of 5~300 people, post-generation foundation managers account for 12.2%. When estimating the number of family enterprises of which have gone through succession based on this (as of 2008), it reaches approximately 13,658. ABusiness succession is emerging as a major issue of management as among small/medium enterprises the number of enterprises of which succession is under progress or scheduled in the future reaches 70 percent. It was revealed that managers of small/medium enterprises have a pressing concern over business succession as seen from the fact that only 11.4% of enterprises did not show any intention of succession. As such, most family businesses want business succession, the reality in Korea is that heavy inheritance tax, gift tax, negative society reaction and inadequacy of successor fostering pose stumbling blocks to business succession due to the insufficiency of political support. So far, the establishment of a support policy for business succession by the government was out of the question as the view that business succession was tantamount to ``a passing-down of wealth`` was prevalent. Currently, a partial support system for business succession that includs the expansion of inheritance deduction is being presented. Support foundation for family business succession including the expansion of the deduction rate for family business inheritance, an exceptional system for prior inheritance, a postponement of tax payment system and operation of a support center for family business succession is being formed. In 2009, in case that a family business inheritor should operate his/her business lawfully even after inheritance by succeeding an enterprise that is more than 10 years old, the deduction amount of family business inheritance deducting from inheritance property value was increased from 20 to 40% and deduction limitation for family business inheritance was also was expanded from the previous 3 billion (KRW) up to 6-10 billion (KRW) depending on the period of family business operation by the deceased founder and accordingly, the burden of family business inheritance tax was greatly decreased. According to the ``Tax Law Amendment of 2011``, it was stipulated that the deduction rate for family business inheritance be expanded from 40% of total amount of family business inheritance property to 100%. The deduction limitation was also expanded depending on the family business operation period of the founder from the existing 6 billion to 10 billion (KRW) in case of operation of more than 10 years, from 8 billion to 15 billion (KRW) for over 15 years and from 10 billion to 50 billion (KRW) for over 20 years. However, as the requirement for support is too demanding, there is a gap between this system and enterprise reality and moreover, this system is not sufficient when compared with the cases of advanced countries as well. In case that family enterprise should lose competitiveness or lead to a shut-down due to a rough succession, valuable intangible assets, including technology and knowledge accumulated within the enterprise would cease to exist and job opportunities and production facilities would be lost. As a consequence, the national economy will also be considerably adversely affected. In the cases of countries like Germany and Japan that progressed with industrialization ahead of our country, they are implementing a ground breaking succession policy for maintaining employment and ensuring sustainable growth under their recognition that business succession is a second foundation. While exempting succession-related taxes, including inheritance tax and gift tax drastically, they support the sustainable growth of their enterprises. Therefore, Korea is also required to establish a support policy for business succession and promote it through an approach in their proactive perspective. Creation of new job opportunities and foundation promotion to recover the growth power of national economy is important, but maintaining an enterprise that has been cultivated by investing efforts and resources since its foundation and a succession that enables sustained growth also falls under the category of very important policy tasks. In order to facilitate business succession, a new support policy for succession shall be pursued on a sustained basis. First, the requirement of support for business succession should be actualized to match the reality of enterprises. The period of business operation of the founder was sharply strengthened from 5 years to 10 years in the past but this period should be shortened drastically considering the average operation period of small/medium enterprises of 10.7 years and requirement for holding the office of representative director over 60% of the time or over 8 of 10 years (shouldn`t this be 6 of 10 years? Delete this note after checking) before inheritance starts should be improved to be match reality. In addition, in order to facilitate family business succession of unlisted small/medium, middle standing enterprises that have relied on external investment capital in the growth process of enterprise, the requirement for share of the largest shareholder of the decedent should be alleviated. Even if an enterprise should graduates from the small/medium enterprise circle, the inheritance deduction benefit is limited up to a turn-over of 150 billion (KRW) but this limit should be expanded to a turn-over of 300 billion (KRW) to facilitate the growth of small/medium enterprises into large corporations. Second, with a view to activating a succession in a form of gift preferred by family enterprises, a revolutionary measure for an exceptional system of prior inheritance is required to be considered. It is considered to be reasonable that the limit of support for prior inheritance be increased from the existing 3 billion (KRW) to 10 billikon (KRW). Reflecting the characteristics of family enterprises and reality, the evaluation method of unlisted stock should be improved as well. A method of lowering the maximum tax rate of inheritance and gifts by limiting its target to family enterprises and abolishing extra charge taxation should be pursued so that family enterprises may not give up a succession due to heavy taxes. Third, in order to encourage the intention of succession by somewhat alleviating uncertainties in the process of succession, an introduction of stock having an approval right is desirable. It is required to proactively review the possibility of introducing a carry-over taxation system for capital gain as a way of eliminating taxational barriers that deter business succession and harmonizing the justice of the tax burden. A taxation method for the acquisition value of succession that is viable to be introduced at this juncture may quote a tax support system for a merge among small/medium enterprises, a regulation of the special tax control law, as a substitute method for partial inheritance tax. If the system is converted to taxation method for the acquisition value of succession, a similar effect would be exerted in terms of carry-over of the tax burden and it will be effective for a smooth succession of the family enterprise. Fourth, ``a system of exempting inheritance tax subject to achievement of business succession`` that exempts a certain rate of inheritance, a gift tax in the case that a small/medium enterprise was inherited or gifted is operated successfully and continuously while employment is maintained, like the case of Germany, should be implemented. This system is required to be implemented with priority targeting an enterprise that was succeeded to a successor after it had been operated for more than 20 years as a small/medium enterprise and attains management achievement steadily while creating employment and paying taxes adequately. This system is to be exempt from taxes for a period of 10 years by a constant rate (10% per year) in case that certain requirements are satisfied after determining inheritance, gift tax at the time of business succession and measuring enterprise achievement for the determined tax every year. Fifth, in order to support business succession of family enterprises comprehensively and systematically, a support system, including an enactment of special law to support family enterprise succession, and the establishment of a business succession promotion agency should be undertaken. Comprehensive support for business succession would be enabled and its effect would be taken substantially only when a special law is enacted. Once the groundwork for supporting family business succession has been laid down, it should be combined in a single body by the enactment of a special law, and the efficiency of the policy execution could be enhanced. Limitation of partial support for family business succession by a general law could be overcome. When a special law is enacted, a separate tax rate (bringing down maximum tax rate) differentiated from general inheritance tax could be applied to family business succession. The last thing to be emphasized is that in order to support sustained growth of family enterprises, a reliable mainstay and a hope leading our economy, now is the time for the government authorities concerned and financial institutions, not to mention of representatives of the relevant enterprises, to exert their respective efforts to arrange realistic counter-measures and provide efficient support for successful business successions. All of us should recognize the fact that only when fostering small/medium enterprises to carry on their family line for a long time will the growth of these enterprises and the future of Korean economy be promising.

종류주식을 활용한 가업승계 - 의결권 없는 상환우선주와 신탁의 활용을 중심으로 -

오영표 ( Oh Young Pyo ) 한국중견기업학회 2023 중견기업연구 Vol.10 No.1

The necessity of a policy to support the succession of the family business cannot be overemphasized as the owner of the family business is aging. Among them, the “family business succession method using class shares” was reviewed as a way for the family business owner to stably succeed the family business without the conflict of children. Various types of shares can be used for family business succession, but in this paper, the structure of inheriting voting shares to successors and non-voting shares to non-successors in order to ensure complete management succession was reviewed. In addition, more efficient and stable family business succession method is possible by using revocable trust than three existing methods of gift, gift upon death, and will. Therefore, the owner of family business needs to plan and implement the family business succession using the trust as well as non-voting shares. The improvements to make family business succession using class shares and trusts are as follows. First, there is a need to drastically improve the forced heirships system of civil law. It is necessary to allow prior agreement on the inheritance of the family business. There will be no side effects if a device that can secure the authenticity of the person who has the right to give up the forced heirships system is set with the permission of the family court and a prior agreement. In addition, it is necessary to limit the amount of the forced heirships system to 3 billion while reducing the realistic reason for the existence of the forced heirships share only to guarantee the livelihood of the bereaved family. Second, it is necessary to raise the issuance limit of class non-voting shares by 50% of the total number of issued shares. If it is difficult to allow all companies, the issuance limit of class shares should be raised even in the case of family business succession. Third, exceptions need to be recognized only for family business succession trusts to the limit on the exercise of voting rights of trust companies under the Capital Markets Act so that trusts can be used as family business succession tools without disputes. In addition, even if the owner enters into a family business succession trust contract and the ownership of family business shares is transferred to the trust company, the Inheritance Tax and Gift Tax Act(Article 18 Basic Deductions) and the Restriction Special Taxation Act(Article 30-6 Special Taxation on Gift Tax on Succession to Family Business) must be revised to meet the prior and post requirements of family business inheritance deduction and family business gift special cases.

중소·중견 가족기업의 2세 경영승계교육훈련에 관한 6개사 관찰 연구

박기준 ( Kee Jun Park ),이춘우 ( Choon Woo Lee ) 한국중소기업학회 2011 중소기업연구 Vol.33 No.2

TThis study observes the phenomenon and derives 20 propositions of management succession in 6 Korean Small and Medium sized Enterprises founded in 1960~1970. These are all family business, which have successfully accomplished management succession. The Korean SMEs founded in 1960~1970, have faced several issues of management succession from founder to 2nd generation successor. Because the Korean SMEs founded in 1960~1970 have played a key role in the development of the South Korean economy, it is very important for them to make successful management successions. Successful management succession can help the South Korean economy grow continuously. Most past research about family business has focused on family succession, but has not yielded the in-depth knowledge of family succession training and development. Especially, it is necessary to do academic research about succession training and development of the Korean Small and Medium sized family business SMEs. At this time, we need to start from the following research questions, how Korean family succession training and development is planned and executed, what educational contents and methods of the succession training and development are adopted, what issues Korean Small and Medium sized family business have encountered with succession training and development, and what stages does the management succession process of Korean family business SMEs have. This study uses the case study method through in-depth interviews with two founders and six 2nd generation successors. The case study method is more relevant than surveys and statistical analysis. The data collected through in-depth interview is analyzed by content analysis, and we produce deliberate and qualitative information about the contents, methods, stages, periods, characteristics of trainee and trainer of succession training and development in Korean family business SMEs. We have derived 20 propositions of management succession training and development, based on observable facts in 6 Korean Small and Medium sized family businesses. The Korean SMEs founded in 1960~1970 are likely not to have a succession plan, in addition, Korean SMEs founded in 1960~1970 are likely not to plan for succession training and development. (Proposition 1), the founder is likely to put the stress on the son as a 2nd generation successor when selecting him as a succession development trainee. In addition, the founder is likely to put stress on the sincerity and the volition of family business of 2nd generation successor. (Proposition 2), the criteria of selection for 2nd generation successor are ``the son``, ``integrity of 2nd successor``, ``intention to taking family business of 2nd successor``. Also, the founder is likely to put stress on diligence and frugality, taking initiative, need for achievement, and trustfulness as the educational contents of succession training and development (Proposition 3), the founder is likely to put stress on the meaning of family business succession and businessman, management philosophy and insight of money as educational contents. (Proposition 4), the founder is likely to put stress on the capability of decision making and good judgment as educational contents. (Proposition 5), the 2nd generation successors want to learn personnel management know-how to get along with 1st generation business members. (Proposition 6), the 2nd generation successors are likely to learn practical knowledge and skills of the principal jobs and organizational culture and practices, while working as a employee. (Proposition 7), the 2nd generation successors want to learn the language and socio-cultural experience of foreign market countries. (Proposition 12), the 2nd generation successors want to experience the organizational life of larger local or global firms. (Proposition 13), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of 2nd generation successor`s career development from an employee to the CEO with various jobs. (Proposition 7), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of apprentices (1:1 tutoring) for 2nd generation succession training and development (Proposition 8), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of management case study, discussing some management issues between founder CEO and 2nd generation successor. (Proposition 9), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of planning and managing actual business projects that 2nd generation successor takes charge of. (Proposition 10), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of joint management with founder and 2nd generation CEO. (Proposition 13), the founder CEOs are likely to be a model or exemplary for the 2nd generation successors to mimic or follow with observation. (Proposition 14), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of 2nd generation successor`s getting experience at another larger company as an employee. (Proposition 14), Korean SMEs founded in 1960~1970 are likely to adopt the educational method of 2nd generation successor`s getting scholarships in other developed countries. (Proposition 15), ``Discerning eye on people`` or ``Hungry spirit`` can be trained through training and development programs, therefore 2nd generation successors should do self-directed learning. (Proposition 16), the term of succession training and development in Korean SMEs founded in 1960~1970 is from the childhood of the 2nd generation successor to the death of the founder. (Proposition 16), the stages of succession training and development in Korean SMEs founded in 1960~1970 are composed of observation learning (1st stage), OJT of principal job (2nd stage), training management decision making and judgement (3rd stage), and joint management training (4th stage). (Proposition 17), the founder is likely to control and train the management decision making or judgement of the 2nd generation successor when he is co-managing the enterprise. (Proposition 18), the 2nd generation successor`s self-directed learning volition is likely to be the key success factor of succession training and development. (Proposition 19), there is a high possibility of conflict between founder and 2nd generation successor, because they have the duplex relationship of employer-employee and father-son. The relationship of father and son naturally facilitate competition each other. The positive or negative relationship between founder and 2nd generation successor is the important determinant of successful succession training and development. (Proposition 20). This study sheds light on the importance of transferring implicit knowledge through long-term interaction and role change between the founder and 2nd generation successors. This study provides practical guidance to Korean family business founders and 2nd generation successor who are anticipating a succession through the derived observations. In addition, academically, this study can contribute to showing visible knowledge of Korean small and medium sized family business. Korean small and medium sized family business are likely not to prepare systematic succession training and development in advance, but we can find several management succession training contents and techniques. It is likely to be the key success factor of succession training and development that the 2nd generation successor does self-directed learning with high achievement needs and motives. It is necessary to create a learning environment and opportunities to support him.

행동대리인 이론관점에서 가족기업 특성이 승계에 미치는 영향

김기형 ( Ki-hyung Kim ),문철우 ( Chul-woo Moon ),김상균 ( Sang-kyun Kim ),이병희 ( Byung-hee Lee ) 한국중소기업학회 2017 중소기업연구 Vol.39 No.1

The first generation of the business that had been founded in 1960~1970s faces the situation to consider the succession of the family business developed by devotion of their whole lives in the critical timing to the next generation. In the process of selecting the party of family business succession, it is required to consider a variety of succession types including smooth transfer to the other family member or the employee of the company, selling the company, or hiring external specialist. Foreign countries acknowledge the importance of the succession in the family owned company to perform multiple studies on the influential factors to the succession, distinction, and types of family business succession; and they utilize the results for the related policy development and the support of family owned business succession. However, few studies have been conducted on the succession of the domestic family owned business and majority of them are related to the types of succession. Considering its share and influential power in the domestic economy, it is necessary to develop the guideline and the policies to solve many issues on the succession of the family owned business by systemic studies. Hence, the impact of the main characteristics in the family owned business on the types of its succession was analyzed in this study focusing on five domains of Socioemtional Wealth (SEW) in view of Behavioral Agency Theory by Gomez-Mejia et al. (2007) using the data from 540 family owned small-to-medium sized businesses so as to analyze the issues on their business succession. Upon the empirical analysis results, it was confirmed that they were influenced to the selection of succession type by family succession > internal employee succession > external succession, for the variables of social contribution which were non-financial characteristics, internal employee succession > family succession > external succession for the intellectual properties, and family succession > external succession for the management participation of the family. The distinction of social contribution were influenced the most to the selection of the succession types. Financial factors, business performance, and R&D investment variables were not significantly influenced to their selection of the succession types. In case of simultaneous management, the family succession rate was high and it showed the control effect to strengthen selecting family owned business with R&D investment, social contribution, and company history variables. The behavioral agency theory used in this study was confirmed with high explanation power on the family owned business succession. The family owned business showed the tendency to maintain SEW, and non-financial factors such as accumulated know-how and social contribution based on the long term history were significantly affected to the succession in the small-to-medium sized family owned businesses, unlike general large sized listed companies. The results of this study are expected to be helpful practically for the succession of the family owned business and to suggest the guideline for the development of governmental policy.

중소 가족기업의 응집성 및 적응성이 승계준비도에 미치는 영향

백유진(Yujin Back),홍진환(Jinhwan Hong) 대한경영학회 2018 大韓經營學會誌 Vol.31 No.5

중소 규모 가족기업의 승계는 기업의 생사를 결정지을 수 있는 중대한 사건이기 때문에 사전의 철저한 준비가 필요하다. 철저한 승계준비는 기업의 영속성을 확보하는 데 도움이 되고, 승계이후 기업 성과, 기업가치 제고로 연결될 수 있기 때문에 가족기업 승계에 있어 특히 중요한 요소라고 볼 수 있다. 본 연구는 가족기업의 승계준비 정도를 결정할 수 있는 요인으로 가족 간 관계에 주목하였다. 구체적으로 가족들간 얼마만큼의 정서적 유대가 형성되어 있는지(가족 응집성), 가족들간 의사소통이 얼마나 자유롭고, 의사결정에 서로 기여하는지(가족 적응성)를 살펴봄으로써, 가족 응집성과 적응성이 승계준비를 원활하게 하는 요소인지 확인해보았다. 즉, 가족 응집성과 가족적응성과 승계준비 간의 정(+)적 관계를 기대한 것이다. 이에 더해 기업이 속한 산업 환경의 조절효과를 함께 살펴보았다. 산업 환경의 불안정성은 기업으로 하여금 이를 대응하기 위한 추가적인 노력을 요하므로, 만성적인 자원의 부족을 겪는 중소 규모 기업 입장에서는 승계준비를 더디게 하는 방해요소로 작용할 수 있다. 따라서 본 연구는 가족응집성과 가족적응성이 승계준비에 미치는 긍정적인 영향이 산업불안정성에 의해 약화될 수 있다고 조절효과 가설을 도출하였다. 연구모델의 검증을 위해 본 연구는 2015년과 2016년 사이 가족기업의 최고경영자가 응답한 총 161개 승계자료를 사용하였다. 실증 분석 결과, 가족 응집성과 적응성은 승계준비에 긍정적인 영향을 미친다는 사실이 발견되었다. 한편, 산업 환경 불안정성은 가족응집성과 적응성-승계준비 간의 관계를 조절하지는 못했으나, 직접적으로 승계준비에 부정적인 영향을 미치는 것으로 나타났다. 이 결과는 기업이 속한 산업의 특성(안정성-불안정성) 자체가 개별 기업의 승계준비 정도에 영향을 미칠 수 있음을 시사한다. 본 연구는 그동안 자료수집의 한계 등으로 덜 주목 받아온 영역에 관심을 두어 중소규모 가족기업 승계 관련 연구의 확장을 시도하였으며, 승계준비의 중요성에 대해 기업의 시각을 환기시킨 기여점을 가진다. 또한 본 연구는 연구 결과를 바탕으로 몇 가지 향후 과제를 도출하였다. Family succession is the most significant event for small- and medium-sized companies, because it determines the survival or the performance of the companies. The preparation of the succession helps firms achieve business continuity and link to the better performance after the succession and increased firm value. Therefore, it is important to prepare succession in advance. This study focuses on family relationship as a determinant of successful succession. Specifically, we highlight on the relationship between family cohesion (the degree of emotional attachment among family members) and family adaptability (the level of smooth communication and active involvement in decision-making) and succession preparedness. We argue that family cohesion and adaptability will have positive effects on the succession preparedness. In addition, we try to find a moderating effect of industry instability, because the industry can have a direct impact on the business. Firms within turbulent industry, are forced to respond to the industry uncertainty supplementarily. It would be an additional burden for small- and medium-sized firms which are usually suffering from the resource scarcity. Also, it eventually impedes succession preparation of small- and medium-sized firms. As a moderating effect, we insist that industry instability will negatively moderate the relationship between family relations (aspects of cohesion and adaptability) and the level of succession preparedness. Hypothesis 1. For small- and Medium-sized family firms, family cohesion will have a positive effect on the succession preparedness. Hypothesis 2. For small- and Medium-sized family firms, family adaptability will have a positive effect on the succession preparedness. Hypothesis 3. For small- and Medium-sized family firms, industry instability will have a negative effect on the succession preparedness. Hypothesis 3-1. For small- and Medium-sized family firms, industry instability will have a moderating effect on the relationship between family cohesion and succession preparedness. Hypothesis 3-2. For small- and Medium-sized family firms, industry instability will have a moderating effect on the relationship between family adaptability and succession preparedness. [그림 본문 참조] In order to test hypotheses, we conduct an empirical test with the survey of 161 chief executive officers of Korean family SMEs (2015-16). As a result, both family cohesion and adaptability have positive effects on the succession preparedness. Good relationship among family members can help the preparation of the family firm succession. Although industry characteristic (stability/instability) has a direct effect on the succession preparedness in a negative way, there is no moderating effect of industry instability. Finally, implications and future research suggestions are discussed.

가업승계세제의 평가와 입법적 개선방안

김완석(Kim Wan Suk) 한국조세법학회 2020 조세논총 Vol.5 No.2

Support for the continued development and growth of small and medium enterprise (SME), the backbone of the Korean economy, makes up an important axis of national economic policy. SME in Korea are as a core presence in the national economy, making up 99.9% of all companies. At the same time they are responsible for a large part of employment, making up 82.2% of all workers. However, the aging of SME executives is rapidly progressing, and with that the succession issue for SME has emerged as a large problem. The heavy burden of the inheritance tax and gift tax is often pointed out as the largest obstacle to company succession. In order to reduce the burden of such successions due to the inheritance tax and gift tax, a family business inheritance deduction system and special gift tax system for family business successions are provided. However, the family business inheritance deduction system and special gift tax taxation system for family business succession show very low usage due to problems in application requirements, aftercare requirements, and special case content. In particular, due to their stringent requirements and strict follow-up requirements, it can be said that the family business inheritance deduction system and special gift tax taxation system for family business succession are little more than pie in the sky in terms of practical use. As a result, it would seem to be desirable to redesign the current family business succession tax system across the board under the following basic directions. First, the family business succession tax system should move away from the micro taxation perspective that simply supports family business succession, to a macroscopic view that supports the survival and development of SME to maintain and create employment from the standpoint of the national economy. Family business inheritance deduction application requirements that require the family business to have run for 10 or more years, as well as the limits of 20 billion won, 30 billion won or 50 billion won, depending on age of the business, should be improved. Second, when it comes to business succession, gift succession is vastly preferable to inheritance succession. In order to boost the effectiveness of business succession and make the economy younger and allow it to run more dynamically, the center of the family business succession system should be shifted from inheritance succession to gifted succession. The family business succession tax system should be redesigned in line with this. Third, the global economy in recent times shows such rapidity in the development of technology and industry as well as environmental change that it is not easy for businesses to keep pace. Aftercare requirements should be relaxed in order to be able to flexibly respond to such technological and industrial developments and changes in the business environment.