property taxes Archives | Be Korea-savvy

Seoul Signals Possible Overhaul of Property Taxes Amid Soaring Home Prices

SEOUL, Oct. 15 (Korea Bizwire) — South Korea’s top policy aide to President Lee Jae Myung said Wednesday that the government is considering a comprehensive overhaul of real estate taxation — including possible hikes in property holding taxes — as it moves to rein in surging home prices in Seoul and surrounding regions. Kim Yong-beom, the [...]

Gov’t Not to Ease Property Tax Burdens for Multiple Home Owners During Its Term

SEOUL, April 11 (Korea Bizwire) — South Korea’s finance ministry on Monday rejected a request by the presidential transition team to temporarily ease property capital gain taxes for multiple home owners. The transition team of President-elect Yoon Suk-yeol earlier asked the outgoing government to revise an ordinance to the income tax law in a bid [...]