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Business Succession Service

Your life’s work deserves to continue. CENTRIC offers unmatched expertise in business succession planning.

Service Overview

Since each business succession case is unique, there is no one-size-fits-all model. This makes specialized expertise and proven experience critical.
CENTRIC was the first in the industry to establish a dedicated division for property taxation—including inheritance, gift, and capital gains taxes. With the largest track record in inheritance and gift cases, CENTRIC also holds unrivaled expertise in the field of business succession.

Our dedicated succession team includes former National Tax Service officials, certified public accountants, and tax attorneys. Over the years, numerous companies have achieved successful business succession through CENTRIC’s customized strategies.

The joy of seeing a company—built over a lifetime—continue to grow across generations: With CENTRIC, it is possible.

Business Succession Process
  • 1. Current Situation Analysis

    Review of owned assets, personal details, and family relationships Assessment of funding sources and income Basic analysis to establish the foundation for tax planning

  • 2. Asset Analysis

    Calculate estimated taxable value under applicable tax laws Estimate expected tax liability in the event of full inheritance or gift transfer prior to planning

  • 3. Establishing Gifting Intent

    Determine recipient(s), method, assets, and scope of gifts Review precedent cases and financial position before and after the gift Develop contingency measures for potential unexpected events

  • 4. Tax Planning

    Present multiple alternatives and estimate tax liabilities for each scenario Develop short-, medium-, and long-term succession tax plans based on asset composition

  • 5. Execution & Ongoing Adjustments

    Implement the succession tax plan and adjust in response to changing circumstances Provide post-gift management, including tax audit responses and contingency planning

Business Succession Quick Diagnosis

Understanding the requirements for the Business Succession Deduction under Korean tax law has long been challenging for companies. Without professional consulting, it was often difficult to determine whether they were eligible.

To address this inconvenience, CENTRIC’s dedicated succession team has introduced, for the first time in the industry, the “Business Succession Deduction Quick Diagnosis Kit.” This service allows clients to easily check their eligibility for succession tax deductions.

Clients who wish to confirm their eligibility can request a quick diagnosis from our succession team. The service is provided free of charge (or at actual cost for on-site visits). There is no need for face-to-face meetings, and clients can simply make a request by phone (+82-2-3011-0707) or email (jeehoon.shin@centric.kr).

We encourage many of you to take advantage of this convenient service.

Quick Diagnosis Process
1. Application by phone or email (choose on-site or online diagnosis type)
2. Preliminary questionnaire sent via email
3. Completion and submission of questionnaire
4. Response with diagnosis on eligibility for the Business Succession Deduction
(If requirements are not met, guidance will be provided on supplementary measures to achieve compliance)

Major Achievements

  • Advised on governance restructuring and succession planning through conversion to a holding company structure.

  • Resolved issues of asset-heavy corporations by vertical integration of investment structures and provided advisory on lawful share transfers to minimize gift tax.

  • Maximized succession effects by contributing real estate and other assets in-kind, followed by mergers with general business divisions.

  • Advised on share transfers by gifting controlling shareholder stakes to the top-tier holding company, resolving comprehensive gift tax issues.

  • Structured succession among heirs through division and merger of overseas business units.

  • Developed governance and succession strategies to secure funding for succession by utilizing retained earnings, taking into account dividend tax regimes.

  • Maximized enterprise value through fair valuation of goodwill and advised on succession procedures utilizing mergers with parent companies.

  • Proposed succession support plans through governance restructuring via treasury stock acquisition and cancellation.

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Professionals