South Korea inheritance tax coverage rises as more estates face tax bills

Inheritance tax applies to an estate, while gift tax is calculated for each person who receives a gift.

South Korea’s article says the share of estates subject to inheritance tax rose to 4.5% in 2025, up from 0.8% in 2005.

Deductions differ between inheritance and gifts, so the total tax can depend on who receives assets and when.

Gifts to heirs made more than 10 years before death are not added back when inheritance tax is calculated.