Korea Inheritance Tax Calculator
Calculate Korean inheritance tax with spouse deduction, lump-sum deduction, and 2026 progressive tax brackets.
About This Tool
The Inheritance Tax Calculator estimates the Korean inheritance tax on an estate. It accounts for the total estate value, debts, funeral expenses, and various exemptions (spouse deduction, family deduction, financial asset deduction) to calculate the taxable amount and corresponding tax under Korea's progressive inheritance tax rates.
Total of real estate, financial assets, and other property
Gifts to heirs within 10 years before death
Deduction based on net financial assets (deposits, stocks, insurance minus financial debts)
⚠ This calculator is for reference only. Please consult a tax professional for actual inheritance tax filing. Actual tax may differ due to tax law amendments and individual circumstances.
How to Use
- Enter the total inherited assets (real estate, financial assets, etc.).
- Enter debts, funeral expenses, and prior gifts if applicable.
- Select spouse status and enter the number of children.
- Choose deduction method (lump-sum 500M or basic + personal deductions).
- Enter financial assets for the financial asset deduction if applicable.
- Review the deduction details, tax base, applied rate, and final estimated tax.
Frequently Asked Questions
What is Korean inheritance tax?
Inheritance tax in Korea is levied on the estate of a deceased person. The tax is calculated by applying progressive rates to the taxable base, which is the total estate value minus various deductions.
Which is better: lump-sum deduction or basic + personal deductions?
The lump-sum deduction is a flat 500 million KRW. If the combined basic deduction (200M) plus personal deductions (for children, minors, seniors, disabled persons) exceeds 500M, the individual calculation is more advantageous.
How is the spouse deduction calculated?
The spouse deduction is based on the amount actually inherited by the spouse, capped at the legal inheritance share. It ranges from a minimum of 500 million KRW to a maximum of 3 billion KRW. The legal share ratio is Spouse 1.5 : Child 1.
What is the filing deduction?
If the inheritance tax return is filed and paid within 6 months from the end of the month in which the death occurred, a 3% deduction on the calculated tax amount is applied.
How does the financial asset deduction work?
If net financial assets (financial assets minus financial debts) are 20 million KRW or less, the full amount is deducted. Above 20M, the deduction is the greater of 20% of net financial assets or 20M, up to a maximum of 200M KRW.
Related Tools
Capital Gains Tax Calculator
Calculate real estate capital gains tax with long-term holding deductions.
Acquisition Tax Calculator
Calculate property acquisition tax, local education tax, and special rural tax.
Income Tax Calculator
Calculate comprehensive income tax with 2026 tax brackets and deductions.
Severance Pay Calculator
Calculate your severance pay based on employment period and average wage.
How It's Calculated
Korean inheritance tax calculation:
1. Gross Estate = Real estate + Financial assets + Other assets (at market value) 2. Deductions from estate: Debts, funeral costs (up to ₩15M), charitable donations 3. Taxable Estate = Gross Estate − Deductions 4. Exemptions: Basic deduction (₩500M lump-sum or itemized), Spouse deduction (₩500M–₩3B), Financial asset deduction (up to ₩200M) 5. Taxable Amount = Taxable Estate − Exemptions 6. Tax rates: 10% (≤₩100M), 20% (≤₩500M), 30% (≤₩1B), 40% (≤₩3B), 50% (>₩3B) 7. Tax credits: Quick-succession credit, foreign tax credit
Spouse deduction alone can significantly reduce or eliminate tax for smaller estates.
⚠️ Disclaimer
Inheritance tax involves complex asset valuation (especially real estate appraisals), pre-inheritance gifts within 10 years, and family-specific deduction calculations. This tool provides rough estimates. Engage an estate planning attorney or tax accountant well before the need arises.