A recent report by the Korea Chamber of Commerce and Industry (KCCI) has sounded the alarm over a growing outflow of wealth linked to inheritance taxes. The report says Korea has the highest effective inheritance tax rate among OECD member countries, prompting wealthy individuals to relocate their legal residence or even change citizenship. The report suggests that the so-called “wealth flight” is no longer anecdotal but a real and accelerating phenomenon. In 2024, about 1,200 people reportedly left Korea due to inheritance tax burdens, a figure that doubled to roughly 2,400 in 2025. Under Korea’s current system, people who inherit assets worth 3 billion won ($2.2 million) or more are subject to a base inheritance tax rate of 50 percent. When an inheritance involves a controlling stakes in a company, an additional premium surcharge can push the effective tax rate as high as 60 percent. The KCCI warned that Korea’s top-tier effective tax rate is a key driver of wealth outflows. The country now ranks among those seeing the largest number of departures linked to inheritance taxes,
Wealth exodus risk grows
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