this post was submitted on 26 Sep 2023
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Seems like there should be an easy way for any BIG company: a stock split. Any company that has shares, even private shares, can be forced to undergo a stock split of which the government gets half. Boom, government owns half the company. To get more surgical about it, only shares held by the deceased would be split.
Smaller companies don't have such an easy mechanism but it seems to me they would cause less chaos.
Of course, this seems like a colossal incentive to never incorporate in Korea.
Presuming there is such a structure. Non traded companies can have huge values without having a stock structure.
And what is the logic of a government owning a part of a company by default when what really matters is receiving the corresponding liquid monetary value?
There are specific sectors where state must hold objective interests and in some cases even hold complete control but most sectors are more of liability than an asset to a government.