A Comprehensive Study on Japan's Business Succession Support System - Focusing on Institutional Development, Policy Effectiveness and Implications for Korea -

초록

This study examines policy measures to address the growing crisis of business succession among small and medium-sized enterprises (SMEs), caused by population aging and a shortage of successors. It analyzes Japan’s business succession support system and evaluates its implications for Korea. Since the enactment of the Act on the Smooth Business Succession of SMEs in 2008, Japan has developed a multilayered support framework linking tax incentives, financial support, consulting, education, and M&A matching services. After the 2018 tax reform, the utilization and effectiveness of the succession tax system improved significantly. Empirical evidence shows that firms using the system demonstrate higher survival rates, and those combining successor training with expert consulting achieve greater succession success and management stability. In contrast, Korea’s family business inheritance tax deduction system faces low utilization due to strict eligibility requirements, heavy post-management obligations, and complex procedures. Based on Japan’s experience, this study highlights key policy directions for Korea, including stronger policy linkages, greater flexibility in successor designation, the inclusion of third-party succession, and the establishment of regional governance structures. The study emphasizes that business succession should be viewed not merely as a tax issue but as a matter of economic and social continuity, calling for an ecosystem-based policy approach.

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