Gift tax (증여세)
Tax on receiving assets from family in Korea. A relationship-based deduction is subtracted, then 10–50% progressive rates apply.
KRW
KRW
How it works
Tax base = gift + prior gifts from the same donor within 10 years − deduction. Deductions: spouse 600M, parent→adult child 50M (minor 20M), child 50M, other relatives 10M, all as 10-year totals.
Rates: 10% up to 100M, 20% to 500M, 30% to 1B, 40% to 3B, 50% above. Filing within 3 months earns a 3% credit.
Since 2024, gifts from parents within 2 years of marriage registration or a birth get an extra KRW 100M deduction.
Assumptions
- Credit for prior gift tax simplified
- Generation-skipping surcharge (30–40%) not applied
- Enter real estate at market value
FAQ
Are gifts from abroad taxed?
If the recipient is a Korean tax resident, gifts from anyone anywhere are taxable. Non-residents are taxed only on Korean-located assets.