What If You Inherit Your Parents' House?

When parents pass away or plan to transfer property, Korean inheritance and gift taxes apply with progressive rates from 10% to 50%. This scenario covers the lump-sum deduction (KRW 500 million), spousal inheritance deduction (KRW 500M-3B), the 10-year gift tax aggregation rule, and ongoing property tax obligations based on officially assessed values. It illustrates why many families plan transfers over multiple decades to maximize exemptions.