๐ Inheritance Tax Exemption and Rate Guide
๐ฐ Inheritance Tax Exemption Limit (Lump-sum Deduction)
Inheritance tax basically has large deduction amounts. If there is a spouse and children, at least 1 Billion KRW is often tax-free.
- Basic Deduction + Other Personal Deductions:Or applies the larger of the two: 500 Million KRW lump-sum deduction
- Spouse Inheritance Deduction:Minimum 500 Million KRW ~ Maximum 3 Billion KRW
- Conclusion:If the spouse is alive, at least 1 Billion; if not, at least 500 Million KRW can be deducted
๐ Inheritance Tax Rates (2025)
| Taxable Base | Rate | Progressive Deduction |
|---|---|---|
| 100M KRW or less | 10% | - |
| 500M KRW or less | 20% | 10M KRW |
| 1B KRW or less | 30% | 60M KRW |
| 3B KRW or less | 40% | 160M KRW |
| Over 3B KRW | 50% | 460M KRW |