Korean Tax Blog

Do Foreign Residents Need to Report Overseas Trusts in Korea? “I live in Korea but have a family trust or other trust arrangement overseas. Do I need to report it?” Starting in 2026, Korea introduced a new reporting requirement for certain overseas trusts. This rule may also apply to foreign residents living in Korea. However, the reporting obligation depends on individual circumstances, including Korean tax residency and the nature of the overseas trust. What Is the New Over

Do Foreigners Have to Pay Inheritance Tax in Korea? “I inherited property or money connected to Korea. Do I have to pay inheritance tax?” Foreigners can also become involved in Korean inheritance tax when they inherit money, real estate, stocks, or other assets connected to Korea. Whether Korean inheritance tax applies is not determined simply by nationality. The deceased person’s tax residency and the location of the inherited property are important factors. When Can Korean