Over 1,000 Residents Lined Up on Weekdays... What Happened at the Gangnam-gu Tax Seminar?

Gangnam Residents Fill Seminar Seats Amid Concentration of High-Priced Homes
Replay Available on Gangnam-gu’s Official YouTube Channel Until October 2

Over 1,000 residents attended the three ‘Real Estate Tax Seminars’ held by Gangnam-gu, Seoul (district mayor Kim Hyun-ki) this month. With the overhaul of the Comprehensive Real Estate Holding Tax and the Capital Gains Tax directly affecting homeowners in the high-value Gangnam area, community interest in understanding the changing tax rules filled each seminar to capacity.

Scene from the 'Real Estate Tax Seminar' in Gangnam-gu. Provided by Gangnam-gu.

According to Gangnam-gu on September 29, the seminars took place on the 18th, 21st, and 22nd, each drawing large crowds of local residents. The events focused on explaining the latest changes to the comprehensive real estate holding tax and capital gains tax, using real-world examples. Attendees showed keen interest in tax changes closely tied to everyday life, such as the tax burden for long-term homeowners and long-term residents with a single property, revisions to the long-term holding special deduction, recognition of non-residency periods due to reconstruction or redevelopment, and protections for senior single-home owners.

A total of 468 residents participated in on-site surveys, with those aged 50 and above comprising 77%. The most pressing community request, accounting for 48% of all responses, was for transitional provisions for existing long-term owners. The intention is to recognize previous periods of ownership and allow homeowners sufficient time to adapt to policy changes. Other suggestions included lifting or raising the capital gains exemption cap for long-term residents, and enhancing the requirements for deferring the comprehensive real estate holding tax for senior single-home owners.

In August, Gangnam-gu collected 1,208 resident opinions and submitted six policy recommendations to the government, including the protection of long-term homeowners and the recognition of unavoidable non-residency periods. The district explained that some of these proposals have since been reflected in the government’s draft, and residents further requested that the seminars be held regularly, with sessions dedicated to specific topics such as reconstruction, inheritance, and gifts.

Residents who were unable to attend in person can watch a video of the September 18 seminar, conducted by tax accountant Kim Hoyong, through Gangnam-gu’s official YouTube channel until October 2.

On August 3, the government announced its 2026 tax reform plan, stating it would restructure the comprehensive real estate holding tax and capital gains tax to focus on actual residence and property value. The new policy will lower the burden for single-homeowners who actually reside in their property, while increasing levies for high-value and non-resident homes, as well as for owners of multiple properties. This is drawing particular attention from residents of property-rich Gangnam. District mayor Kim Hyun-ki stated, “Because taxes have a direct impact on residents’ assets and livelihoods, it is crucial to communicate accurate information in an accessible way and to carefully listen to feedback from our community,” adding, “We will continue to translate residents’ opinions into policy proposals and report the outcomes in an ongoing dialogue.”

This content was produced with the assistance of AI translation services.