Sam Altman was kicked out and returned.

Sam Altman was kicked out and returned. Genius and rare businessmen leading the era of artificial intelligence also have challenges and trials. You have to fight and overcome to be recognized as a leader.

The third and fourth generations of Korean conglomerates are future leaders from birth. I don’t have many children anymore. There is usually one brother. There is no competition between brothers, let alone challenges from outside. Even if you have several brothers, the times are not very common sense. It is an atmosphere of sharing businesses with good intentions. It’s not the time to have seven to eight people, and it’s enough to split two to three people.

However, there is an ambush for the third and fourth generations of chaebol to succeed. We have to overcome the hurdle of 60% inheritance and gift tax. In general, they exploit ordinary shareholders to pay. Using →↘↓↙←→↘↓↙← + technology such as personnel division, material division, unfair merger, giving work, embezzlement and breach of trust, high remuneration/retirement payments and stingy shareholder returns, PBR drops to 0.2 and 0.3.

In the end, the body is reduced to 0.2 and 0.3 compared to the original size, exceeding the inheritance tax hurdle. It is a K-capital market-style trial and response.

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Tax deferral under Article 38-2 of the Restriction of Special Taxation Act, which has been selected as a representative preferential treatment along with treasury stock magic in personnel division. (If a new holding company under the Monopoly Regulation and Fair Trade Act is established or an existing domestic corporation is converted into a holding company as Korean shareholders of a domestic corporation invest in kind by December 31, 2023, the amount equivalent to the transfer margin incurred by the investment in kind may be deferred until the shareholder disposes of the holding company’s shares, as prescribed by Presidential Decree.) The system will originally end this year. Originally, it had to end earlier, but it is a privilege that has been postponed countless times.

The government’s 2023 tax code revision also included delaying the end of the preferential treatment. Now, the end of 2023 is about a month away, and I’m watching (by myself) clearly how this works.
https://www.moef.go.kr/nw/nes/detailNesDtaView.do?menuNo=4010100&searchBbsId1=MOSFBBS_000000000028&searchNttId1=MOSF_000000000065146

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Ordinary shareholders owned only over 1 billion won in stocks Even if it is transferred, it pays capital gains tax, but the majority shareholder receives a deferred capital gains tax (the majority shareholder does not sell his stake anyway), even though he has switched to a holding company to strengthen his control.

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• * In the worst-case scenario, the third and fourth generations of chaebols would rather admit that they have a different status from general shareholders or major shareholders (?) who hold more than 1 billion shares and give them “permanent” preferential treatment. The end of this preferential treatment is helping to create a holding company and deepen the Korea discount by using out-of-print marketing.