[Related Article / The Korean Economic Daily] Business Succession Through Trusts: The Time for Legislative Reform Is Approaching [SEO&LEE's Law and Business]

At the end of 2024, Korea’s Ministry of the Interior and Safety announced that the number of registered residents aged 65 and older had reached 10.24 million, accounting for more than 20% of the population. By UN standards, Korea has now entered a super-aged society.

As demographic ageing accelerates, business succession has become an increasingly urgent issue for founders of small and mid-sized enterprises. Yet many business owners still view succession primarily through the lens of inheritance and gift taxation. In practice, the challenge is far more complex.