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Succession

October 18, 2011

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently. The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy – and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

“Third-generation hereditary succession is as grotesque at Samsung as it is in Pyongyang,” wrote a correspondent to The Economist recently.

The writer was making a slightly odd comparison between one of South Korea’s most successful chaebols – the state-supported manufacturing giants that continue to dominate the country’s economy - and the bizarre personality cult of Kim il-sung that lies beyond the demilitarised zone to the north.

June 7, 2011

Family businesses are not well prepared for succession despite plans to change hands within the next five years, reveals a survey by PricewaterhouseCoopers released on 5 June.

Family businesses are not well prepared for succession despite plans to change hands within the next five years, reveals a survey by PricewaterhouseCoopers released on 5 June.

Kin in the game, a survey of 1600 family businesses around the world, showed that over half of the respondents don’t have a succession plan in place, although 30% of the families expect to transfer control over the next five years.

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