South Korea Wealth & Property Tax
Detailed wealth & property tax rates and rules for South Korea in 2026.
Wealth Tax
South Korea does not impose a net wealth tax. However, a comprehensive real estate tax (CRET) applies to individuals and corporations holding real estate above certain value thresholds, functioning as a de facto wealth tax on property holdings. Rates range from 0.5% to 2.7% for residential property.
Wealth Tax Rate
0%
Inheritance / Estate Tax
South Korea has one of the world's highest inheritance tax rates, with a progressive structure ranging from 10% to 50%. The top 50% rate applies to inherited assets exceeding KRW 3 billion. An additional 30% surcharge applies when the heir is the largest shareholder of a company (the 'Samsung tax'). Various deductions are available including a basic deduction of KRW 500 million and a spousal deduction of up to KRW 3 billion.
Top Rate
50%
Property Tax
Local property tax ranges from 0.1% to 4% of assessed value depending on property type and use. A comprehensive real estate tax (CRET) is an additional national-level tax on high-value property holdings. For residential property, CRET applies to combined assessed value exceeding KRW 600 million (KRW 900 million for single-home owners) at rates of 0.5-2.7%. Acquisition tax of 1-12% applies when purchasing property.
How South Korea Wealth Tax compares
South Korea does not tax net wealth. 191 of 203 countries TaxAtlas tracks take the same approach, which is useful context when weighing where to live, invest, or incorporate.
