South Korea’s inheritance tax sparks millionaire exodus

South Korea has emerged as one of the countries experiencing the world’s largest outflow of wealthy individuals, in part due to its rigid inheritance tax system.
A recent analysis by British consultancy Henley & Partners showed on Tuesday that the net outflow of Korean millionaires last year was estimated at 2,400, double the 1,200 recorded in 2024. The figure was the fourth largest globally, following the United Kingdom, China and India.
“Korea’s inheritance tax rate of up to 60 per cent may…