조건부지분인수계약의 회계처리에 관한 고찰

초록

This paper examines the accounting treatment issues associated with the Simple Agreement for Future Equity (SAFE), known in Korea as the Conditional Equity Acquisition Agreement. Originally introduced in the United States by Y Combinator in 2013, SAFE has been increasingly adopted in Korea since the amendment of the Venture Investment Promotion Act in 2020. SAFE provides a simplified investment mechanism for early-stage startups without the need for immediate valuation. However, there are ongoing debates regarding whether SAFE should be classified as debt or equity for accounting purposes. This study explores both perspectives, analyzing the grounds for treating SAFE as debt under K-IFRS standards, as well as the arguments for recognizing it as equity. The paper also addresses the practical issues that arise from each approach, such as financial statement distortions, classification challenges during liquidation, and implications for subsequent investments. The findings highlight the urgent need for clear and consistent accounting standards for the effective adoption of SAFE contracts in the Korean venture capital market.

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