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The government has hinted at treating lower-priced transactions between family members as 'gifts' in a bid to curb abusive gifting of expensive homes. The key point is that if the difference from the market value exceeds a certain threshold, it will be considered a gift rather than a sale and may be subject to a gift acquisition tax of up to 12%. Previously, the difference of more than 30% of the market value or more than 300 million won in a transaction between family members was subject to gift tax, and the gift acquisition tax for multi-family residences in the adjustment target area was 12%. In the future, you should carefully prepare the source of funds, bank transfer records, standard contracts, and market value evidence to reduce unnecessary tax risks. We recommend consulting with a professional before making a transaction. #high-value homes #abusive gifting #family transactions #gift tax #real estate taxes #adjustment target areas