Inheritance tax burden rises with property values; expert to hold nationwide lectures

Soaring property values in South Korea are increasingly creating inheritance tax liabilities, even for individuals who own just one apartment. This trend is prompting more people to seek consultations on inheritance and gift taxes, expanding the scope beyond traditional high-net-worth individuals.

Na Chul-ho, a certified public accountant and business administration doctor, noted that in areas like Gangnam, where apartment prices can range from 3 to 4 billion won, owning a single property can trigger inheritance tax obligations. This has led to a rise in consultations for such cases.

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In Gangnam, for example, where the price of one apartment is around 3 to 4 billion won, there are cases where people consult because inheritance tax arises even if they only own one apartment.

Experts emphasize the necessity of proactive planning for inheritance and gift taxes, considering not only tax implications but also potential family disputes over assets. Careful planning that factors in property ownership, disposal timing, and family relationships is crucial, especially when dealing with real estate inheritance or gifts, as valuation methods can significantly impact the tax burden.

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Inheritance and gifts are not just about knowing tax laws; it is necessary to comprehensively consider the real estate market environment, family relationships, asset composition, and the possibility of future disputes to achieve actual tax savings and smooth succession.

Recent tax reforms, including those announced for 2026, are set to introduce changes related to real estate and business succession taxes. Property owners, particularly those with multiple or high-value homes, need to stay informed about potential shifts in comprehensive real estate tax regulations. Similarly, the timing of property disposal can affect tax liabilities.

To address these evolving issues, Na Chul-ho, author of 'Prepare for Inheritance Now in 2027,' will conduct a series of lectures nationwide throughout September. These seminars will cover recent tax revisions, the differences between inheritance and legacy, wills, the application of appraisal values for high-priced and non-residential properties, advance gift tax ratios, business succession deductions, family corporations, transactions between related parties, and common tax audit types related to inheritance and gifts. The lectures aim to provide practical guidance for individuals facing these complex financial and legal matters.

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I hope this lecture series serves as a starting point for practical preparation for those who have been vaguely postponing inheritance and gifts.