South Korean Parliament Calls for Inheritance Tax Relief

On 8 November 2025, several South Korean lawmakers submitted a proposal to ease inheritance tax rules. The draft calls for lowering the top rate from 50% to 30% and adjusting the exemption threshold for inherited property.

Members of the People Power Party suggested raising the joint‑home exemption from KRW600 million (about Rp6.86 billion) to KRW800‑900 million (Rp9.15‑10.29 billion). The ruling party also backs adding spouses as eligible beneficiaries, though the exact exemption amount differs.

Despite bipartisan support, the measures are not part of the government’s current tax‑reform package and were absent from President Lee Jae‑myung’s campaign pledges. Lee indicated he will consider the revision, which could lower tax burdens for heirs if adopted.