[Anchor]
It is Monday, and we have reporter Han Jiyeon here for "Friendly Economy." Han, today's topic is a simulation looking into what the future of the comprehensive real estate holding tax might look like.
[Reporter]
Based on the assumption that home price increases continue, simulation results show that comprehensive real estate holding tax-subject complexes could emerge in 22 districts of Seoul, excluding just 3 districts, by the year 2030.
I should point out first that this data is not about the immediate present, but rather a simulation—meaning KB Kookmin Bank calculated beforehand how the numbers would change under certain conditions.
They analyzed five of the most expensive apartment complexes in each of Seoul's 25 districts, totaling 125 complexes, based on a size of 84 square meters (Wall to Wall).
The assumptions are as follows.
Over the past year—from last June to this May—Seoul apartment prices rose by 11%, and it was assumed that this pace will continue going forward.
Under that assumption, while 19 districts and 78 complexes are currently paying the comprehensive real estate holding tax, that number is calculated to increase to 22 districts and 101 complexes by 2030.
This is based on non-resident standards, assuming the homeowners do not actually live there.
Places like Nowon-gu, Gwanak-gu, and Jungnang-gu, where there is currently no talk of the comprehensive real estate holding tax at all, will newly enter the taxation target category by 2030.
This means that—leaving out only Gangbuk-gu, Geumcheon-gu, and Dobong-gu—the tax-subject areas could expand to cover most of Seoul.
Of course, this calculation is underpinned entirely by the premise that "home prices continue to rise just like they are now."
[Anchor]
Given that the assumption itself is quite rough, it seems today's topic is best taken just as a reference.
[Reporter]
If the current upward trend continues, it will increase by about 9 times by 2030.
Even if the upward trend is cut in half, it could still rise by about 5 times.
What stands out in particular are the non-Gangnam areas.
While talk has previously centered on expensive neighborhoods like Gangnam, this time it is about areas that were relatively affordable.
Looking at 8 districts where the comprehensive real estate holding tax burden is currently not heavy—such as Eunpyeong-gu, Guro-gu, Seongbuk-gu, and Gwanak-gu—their combined tax for major complexes in these areas amounts to about 700,000 won this year. However, calculations show that by 2030, based on non-resident standards, it will surge more than 56-fold to reach 40.58 million won.
Of course, this is also under the assumption that home prices keep rising; in reality, the government could change the comprehensive real estate holding tax system again, and home price trends could move differently than they do now.
Therefore, rather than viewing these numbers as "this is how things will be in 2030," it is better to take them as "this is how far things could go if the current trend continues."
[Anchor]
What is the final topic for today?
[Reporter]
Starting from the 11th of this month, transactions on accounts under a deceased person's name will be automatically blocked the day after a death report is filed.
Up until now, there have been some loopholes.
Some financial companies received information on deceased individuals from the Ministry of the Interior and Safety only once a month.
Consequently, there were cases where a time lag of nearly two months occurred before account transactions were actually frozen following an individual's passing.
Problems arose as people took advantage of this window.
In one actual case, a child transferred 7.05 million won from their deceased mother's account to their own account after knowing the password, and received a fine.
In another case, a younger sibling accessed a banking app using a deceased older brother's smartphone just a week after the brother passed away to take out a 30 million won loan, and was likewise punished.
To eliminate such blind spots, the "Rapid Blocking System for Financial Transactions under Deceased Names" will be implemented simultaneously across the entire financial sector—including 4,890 companies ranging from banks to card issuers and insurance firms—starting on the 11th.
Now, the Ministry of the Interior and Safety will pass information on deceased persons to the financial sector once a day, and financial companies will verify whether an account holder is deceased in real time whenever a transaction comes in.
As a result, starting the day after filing a death report, most transactions—except for deposits and a few exceptional withdrawals—will be blocked.
However, funds urgently needed for funeral expenses or medical bills can still be withdrawn exceptionally upon submitting relevant documents.
Since automatic transfers from a deceased person's account may also be suspended, you will need to change the payment methods for utility bills or insurance premiums as well.
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