Young Adults Buying First Homes to Receive Up to 3 Million Won Acquisition Tax Cut

We have some news that should be helpful for young people purchasing their first homes. Let us take a look together.

According to a local tax reform plan announced by the government, the acquisition tax reduction limit for adults under 40 purchasing their first home will be increased from the previous 2 million won to a maximum of 3 million won.

Up until now, this has only applied to residential houses.

Moving forward, officetels are also scheduled to be included as eligible for the reduction.

Following a legislative notice period, this reform plan is scheduled to be submitted to the National Assembly in October.

※ Please note: This article was translated by AI and may contain errors.