Why Seoul's Wealthiest Neighborhoods Dominate Korea's Property Tax Breaks
Introduction
Vocabulary
| Korean | Romanization | Meaning | Example |
|---|---|---|---|
| 부동산 | budongsan | real estate | 부동산 정책을 개선하고 있어요.They are improving real estate policy. |
| 세제 | sejae | tax system | 세제 개편이 필요하다고 생각해요.I think the tax system needs to be revised. |
| 특공제 | teugkongjae | special deduction | 장기 보유 특공제가 있어요.There is a long-term holding special deduction. |
| 보유 | boyu | to hold; possession | 10년 동안 주택을 보유했어요.They held the property for 10 years. |
| 거주 | geoju | to reside; residence | 그 집에 거주하면서 세금을 줄였어요.By residing in that house, they reduced taxes. |
| 양도소득 | yangdosoedeuk | capital gains | 양도소득세가 줄어들었어요.Capital gains tax decreased. |
| 감면 | gammyeon | reduction; exemption | 최대 80% 감면을 받을 수 있어요.You can receive up to 80% reduction. |
| 가구 | gaegu | household | 전국 24,816 가구가 혜택을 받았어요. 24,816 households nationwide received benefits. |
| 집중 | jibjung | concentration; to concentrate | 강남과 서초에 집중되어 있어요.It is concentrated in Gangnam and Seocho. |
| 조정 | jojeong | adjustment; to adjust | 세제를 조정해야 한다고 말했어요.They said the tax system needs to be adjusted. |
| 형평성 | hyungpyeongseong | fairness; equity | 형평성 있는 정책이 필요해요.Fair policy is needed. |
| 소유 | soyu | ownership | 단독주택 소유 가구들이 많아요.There are many single-home-owning households. |
Reading Text
정부가 부동산 세제를 개편하려고 준비하고 있습니다.
The government is preparing to revise real estate tax policy.
현재 부동산 양도소득세 제도에는 장기 보유 특공제라는 혜택이 있어서, 10년 이상 주택을 보유하면서 거주한 소유자들은 양도소득세를 최대 80%까지 감면받을 수 있습니다.
Currently, the real estate capital gains tax system includes a benefit called the long-term holding special deduction, which allows property owners who hold and reside in a home for 10 years or more to reduce capital gains tax by up to 80%.
2024년에는 전국의 단독주택 소유 가구 24,816곳이 이 특공제의 혜택을 받았고, 총 5조 32억 원의 감면액을 얻었습니다.
In 2024, 24,816 single-home-owning households nationwide received this special deduction benefit, obtaining a total of 5.032 trillion won in tax reductions.
그런데 이 감면액의 대부분이 서울에 집중되어 있었습니다. 5조 32억 원 중에서 4조 5,000억 원, 즉 90%가 서울 가구들에게 돌아갔습니다.
However, most of these tax reductions were concentrated in Seoul. Of the 5.032 trillion won, 4.5 trillion won—90%—went to Seoul households.
서울 내에서도 강남구, 서초구, 송파구, 용산구 등 특정 지역에 혜택이 더욱 집중되었습니다. 이 네 지역만 해도 4조 5,000억 원 중 3조 5,000억 원(78.6%)을 차지했습니다.
Within Seoul, benefits were even more concentrated in specific districts such as Gangnam-gu, Seocho-gu, Songpa-gu, and Yongsan-gu. These four districts alone accounted for 3.5 trillion won (78.6%) of the 4.5 trillion won.
더 놀라운 점은 감면액이 가장 큰 상위 100 가구를 살펴보면 99가구가 서울에 있었고, 그 중 강남구(68가구)와 서초구(19가구)에만 87가구가 몰려 있었다는 것입니다.
What is more striking is that when looking at the top 100 households receiving the largest deductions, 99 were located in Seoul, and 87 of those were concentrated in just Gangnam-gu (68 households) and Seocho-gu (19 households).
실제로 강남구의 한 가구는 주택 한 채를 팔면서 이 특공제를 통해 200억 원이 넘는 감면액을 받은 사례도 있습니다.
In fact, there was a case where a household in Gangnam-gu sold one property and received over 20 billion won in tax reductions through this special deduction.
국세청장 임광현은 26일 X에 글을 올려, 현재 제도 아래에서는 더 비싼 주택과 더 큰 이득을 얻은 경우에 더 많은 감면액을 받게 되므로 장기 보유 특공제를 조정해야 한다고 설명했습니다.
National Tax Service Commissioner Im Gwang-hyun posted on X on the 26th, explaining that the long-term holding special deduction should be adjusted because under the current system, more expensive properties and larger gains receive greater tax reductions.
Grammar Points
-(으)면서 while (simultaneously)
Attached to a verb stem to mean 'while doing' two actions simultaneously. -(으)면서 connects two concurrent actions or states.
📖 10년 이상 주택을 보유하면서 거주한 소유자들은 양도소득세를 최대 80%까지 감면받을 수 있습니다. Owners who have held and lived in a house for 10 or more years can receive up to an 80% reduction in capital gains tax.
✏️ 음악을 들으면서 공부해요. I study while listening to music.
-(으)므로 because / since (formal)
A formal written connective meaning 'because' or 'since', used to state a logical reason. It is more formal than -기 때문에 and common in written/official contexts.
📖 현재 제도 아래에서는 더 비싼 주택과 더 큰 이득을 얻은 경우에 더 많은 감면액을 받게 되므로 장기 보유 특공제를 조정해야 한다고 설명했습니다. He explained that under the current system, since those who own more expensive homes and gain larger profits receive greater tax reductions, the long-term holding special deduction needs to be adjusted.
✏️ 내일 시험이 있으므로 오늘 일찍 자야 합니다. Since there is an exam tomorrow, you must go to bed early today.
Cultural Notes
In South Korea, real estate ownership and property values—particularly in Seoul's Gangnam district—carry significant cultural and economic weight. Gangnam has become synonymous with wealth and success in Korean society, making it a focal point in discussions about economic inequality. The concentration of tax benefits in wealthy districts like Gangnam highlights ongoing debates in Korea about fairness in the tax system and whether government policies inadvertently favor the wealthy, a concern that regularly shapes Korean political discourse and policy reform.
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