Korean Inheritance Tax Complete Guide: Deductions, Calculator & Tax Planning

What Is Inheritance Tax in Korea?

Korean inheritance tax (상속세) is levied on the total estate of the deceased — this is the estate tax model, taxing the entire estate before distribution. The heir(s) are responsible for payment.

How Korean Inheritance Tax Is Calculated

Step 1: Calculate the Taxable Estate

Taxable Estate = Total Estate − Non-Taxable Assets − Debts − Funeral Expenses

• Non-Taxable: Daily household items, ancestral rite items
• Debts: Deceased’s outstanding liabilities
• Funeral Expenses: Minimum 5M KRW; actual costs up to 15M KRW

Step 2: Apply Deductions

Basic Deduction: 2M KRW (always applied)

Individual Deductions:

Deduction	Amount
Spouse Deduction	min(actual acquisition, 3B KRW) — minimum 500M guaranteed
Child Deduction	50M KRW × number of children
Minor Child Deduction	(19 - age) × 10M KRW per child

Lump-Sum Deduction: 500M KRW (choose whichever is larger: individual or lump-sum)

Financial Asset Deduction: 20% of financial assets, capped at 200M KRW

Step 3: Apply Progressive Tax Rates

Tax Base = Taxable Estate − Total Deductions

Tax Base	Rate
Up to 100M KRW	10%
100M to 500M	20%
500M to 1B	30%
1B to 3B	40%
Over 3B	50%

Inheritance Tax Calculator

상속세 계산기

2024년 기준 상속세를 단계별로 계산합니다. (단위: 만원)

재산 현황 (만원)

총 상속재산

만원

비과세재산 (생활용품 등)

만원

채무

만원

장례비용 (최대 1,500만원)

기본 1,000만원, 최대 1,500만원

만원

금융재산

만원

상속인 구성

배우자 있음

배우자 실제취득액

최소 5억 공제 보장, 최대 30억

만원

자녀 수

명

미성년 자녀 수

명

세액공제 (만원)

기납부세액

만원

단기재상속세액공제

만원

증여세액공제

만원

단계별 계산

① 총 상속재산200,000만원

비과세재산-500만원

채무-5,000만원

장례비용-1,000만원

② 과세가액193,500만원

③ 상속공제

배우자공제50,000만원

자녀공제10,000만원

기초공제200만원

개별공제 선택 (개별공제 > 5억)60,200만원

금융재산공제2,000만원

④ 과세표준131,300만원

누진세율 적용

1억 이하 (10%)1,000만원

5억 이하 (20%)8,000만원

10억 이하 (30%)15,000만원

30억 이하 (40%)12,520만원

⑤ 산출세액36,520만원

세액공제-0만원

⑥ 최종 납부세액36,520만원

* 2024년 기준 개략 계산. 실제 신고는 세무사와 상담하세요.

Legal Tax Planning Strategies

1. Lifetime Gifting

Korea aggregates gifts over 10-year periods. Strategic advance gifting reduces the taxable estate.

• Spousal gift deduction: 600M KRW per 10 years
• Direct descendant deduction: 50M KRW per 10 years

2. Maximize Spouse Deduction

The spouse deduction can reach up to 3B KRW based on actual acquisition amount. Structuring the estate so the spouse receives a larger share maximizes this deduction.

3. Family Business Deduction

If you operate a qualifying family business, a deduction of up to 50B KRW may apply. Requirements include 10+ years of operation and holding 50%+ equity.