South Korea MOF Announces Reinstatement of Additional Capital Gains Tax for Owners of Multiple Homes

The South Korean Ministry of Economy and Finance Feb. 12 issued a press release on the reinstatement of additional capital gains tax, for specified owners of multiple homes. The release includes that: 1) additional capital gains tax rates of 20 percent for owners of two homes in designated areas, and 30 percent for owners of three or more homes in designated areas, are reinstated for contracts signed after May 9; 2) the additional rates don’t apply for contracts signed by May 9 for homes located in newly designated adjustment target areas as of Oct. 15, 2025, and transferred within four ...