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South Korea Sees Millionaire Exodus Amid High Inheritance Taxes

2/4/2026

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Summary

Story summary

Henley & Partners analysis shows 2,400 millionaires left South Korea in 2025, doubling 2024 and ranking outflow fourth globally after the UK, China, and India.
Korea Chamber of Commerce and Industry (KCCI) says inheritance tax rates up to 60% are a major factor driving the migration.
With discussions on tax relief stalled, KCCI projects inheritance tax revenue could reach 35.8 trillion won by 2072, affecting corporate investment and stock prices.

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Story summary

Henley & Partners analysis shows 2,400 millionaires left South Korea in 2025, doubling 2024 and ranking outflow fourth globally after the UK, China, and India.
Korea Chamber of Commerce and Industry (KCCI) says inheritance tax rates up to 60% are a major factor driving the migration.
With discussions on tax relief stalled, KCCI projects inheritance tax revenue could reach 35.8 trillion won by 2072, affecting corporate investment and stock prices.