Korean Inheritance Tax Calculator
Estimate inheritance tax in Korea with spouse and child deductions applied
Enter the value of the estate, any debts, and details about the heirs, and this tool estimates the inheritance tax owed under Korean law, applying the basic deduction, lump-sum deduction, spousal deduction, and financial asset deduction. It's useful for anyone planning ahead or preparing an inheritance tax filing who wants a rough figure before talking numbers with a professional. Everything you enter stays in your browser and is never sent to a server.
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How to use
- Enter the total value of the estate along with debts, public charges, and funeral expenses.
- Indicate whether a spouse is inheriting and enter the amount the spouse actually receives.
- Enter the number of children, the number of elderly or disabled heirs, and the value of financial assets.
- Choose whether the 3% voluntary filing tax credit applies, and the estimated tax and a breakdown of deductions are calculated automatically.
FAQ
- How is the spousal deduction calculated?
- It takes the lesser of the amount the spouse actually inherits and the spouse's statutory share (a 1.5 weighting for the spouse against 1.0 per child), then allows a deduction of at least 500 million KRW and up to 3 billion KRW.
- How do the lump-sum deduction and the basic deduction differ?
- The calculator automatically applies whichever is larger: the basic deduction (200 million KRW) plus personal deductions, or the lump-sum deduction (500 million KRW). The lump-sum deduction does not apply when a spouse is the sole heir.
- Can the result differ from the tax actually owed?
- Yes. This is a rough estimate only. Actual inheritance tax depends on how assets are valued, prior gifts, and other deductions, so consult a tax professional for an accurate figure.