Comprehensive Real Estate Tax ₩1.2B Deduction Guide
This content applies specifically to South Korea. If you own one home in Korea but do not live in it, the revised September 2026 government proposal keeps the basic deduction at ₩1.2 billion instead of cutting it to ₩900 million. For a married couple jointly owning one home, it also retains ₩600 million per person, or ₩1.2 billion combined, while the tax burden cap remains 150% rather than rising to 200%. These figures are not final law, so the rules for the relevant tax year still need confirmation. The confusing part is that some proposed increases were withdrawn while others remain. Separating current law, the original proposal, and the revised proposal can prevent you from estimating a tax bill with the wrong threshold. What the revised proposal preserves Non-occupying single-home owners keep the current ₩1.2 billion deduction under the revised proposal. Joint owners who are married also avoid the proposed reduction from ₩600 million to ₩400 million per person. This pre...