Capital Gains Tax Surcharge Returns for Multi-Home Owners, Last-Minute Deals Continue

South Korea’s capital gains tax surcharge for multi-home owners returned on the 10th, prompting last-minute transaction moves through the final day of the suspension on the 9th. In Seoul, applications for land transaction permits reportedly continued even over the weekend. The activity reflected efforts by multi-home owners to complete deals before the surcharge took effect again. With the suspension ending and the surcharge resuming, demand for transactions requiring permits persisted until the last moment. Market watchers will now monitor whether transaction flows and permit applications decline after the surcharge revival. Source: yna.co.kr