When a person with Korean nationality or assets in Korea passes away, heirs (both Korean and foreign) often face significant challenges in identifying, verifying, and properly accounting for all the deceased’s assets (and liabilities). A thorough “asset check” is an essential first step. For an article on the basics of Korean Inheritance Law, please see: Korean Inheritance Law Q& A. Inheritance Asset Checks in Korea An inheritance asset check in Korea is the process by which heirs (or their representatives) identify and verify all of the decedent’s
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Korean Adult Guardianship a Tool in Resolving Corporate Management Disputes in Korea
IPG Legal is one of the leading Korean law firms assisting families residing globally in Korean Adult Guardianship, Korean Inheritance, Korean Estate Planning, and Korean Inheritance Tax Matters. Increasingly, the Korean Guardianship System is being utilized to resolve complex and contentious corporate management disputes. Adult Guardianship as a Tool to Resolve Korean Company Management Disputes Adult guardianship in Korea was typically associated with protecting individuals who cannot make decisions for themselves due to mental or physical incapacity. Today, lawyers in Korea are strategically utilizing adult guardianship as
Continue readingKorean Inheritance Law and Cross-Border Estate Planning under Korean Law: A Comprehensive Guide
Korean inheritance law is complex and ever-changing, particularly when family and estate matters cross international borders. Issues of jurisdiction, nationality, residence, asset location, and inheritance taxation often overlap. The nationality of the decedent, the residence of both the decedent and the heirs, and the situs of assets may each affect the applicable inheritance law and tax treatment. For more information on Korean inheritance law, please see: IPG Legal’s Inheritance & Estate Law Archive. For this reason, retaining an experienced Korean inheritance lawyer and a proactive tax professional is
Continue readingLegal Restrictions on Foreigners Purchasing Residential Real Estate in Korea
Effective August 21, 2025, the South Korean government introduced a new permit-based regime restricting residential property purchases by foreigners in key regions, including all of Seoul, extensive parts of Gyeonggi Province, and specified districts in Incheon. IPG Legal will update the reader when more information becomes available. For additional articles on Korean Real Estate Law, please see: IPG Legal’s Real Estate Law Archive. IPG Legal is engaged by expatriates, family offices, and foreign capital-invested companies on matters related to financing and the acquisition of residential and commercial
Continue readingKorean Prenuptial Agreements for International Couples and Individuals with Assets in Korea and/or Abroad
We advise international couples with ties to Korea who are considering marriage to consider a Korean-legal prenuptial agreement that is enforceable in both Korea and abroad. Many misunderstandings are prevalent online (even from Korean law firms) on the usefulness of prenuptial agreements in Korean divorce proceedings. The reality is that even if all clauses in a prenuptial agreement are not enforceable in Korean courts, the fact remains that Korean courts, at least, consider these agreements as “reference” documents that can assist in understanding the parties’ intentions and,
Continue readingHow to be a Legal Guardian of an Adult in Korea? Korean Guardianship Law Explained by IPG Legal
As Korea’s population ages, Korean guardianship law has become increasingly important, especially for families dealing with family members with dementia and other physical and cognitive impairments. Adult Guardianship in Korea, in short, is designed to protect vulnerable adults from harm and ensure their basic needs are met, while protecting assets from the less-than-scrupulous. Korean courts, in most cases, try to provide the least restrictive form of support and protection; thus, the guardian’s powers are typically tailored to the ward’s particular needs. Foreigners with elderly Korean spouses, children
Continue readingIPG Legal: A Trusted Leader in International Inheritance Disputes with Families with Assets in China, Korea, Southeast Asia and North America
Inheritance disputes are rarely simple, especially when they cross international borders and involve multiple family members with differing legal rights, cultural expectations, and personal histories. These complex and often emotionally charged cases require more than just legal expertise—they demand discretion, strategic thinking, and a deep understanding of international family and estate law. That’s where IPG Legal excels. Global Disputes, Local Expertise IPG Legal has built a strong reputation as one of the leading international law firms for inheritance disputes between families with assets in Korea, China, Southeast
Continue readingKorean Guardianship by Agreement of the Ward and Guardia
Korean Voluntary Guardianship (임의후견, im-ui hygyeon) or Korean Guardianship by Agreement is a legal arrangement, in Korea, under which an individual (the “Ward”), in anticipation of potential mental or physical incapacity due to illness, disability, or aging, delegates all or part of the authority to manage their personal affairs and assets to another person (the “Guardian”). This delegation is made through a formal written contract that grants representative authority over specified matters and comes into effect when the Family Court of Korea appoints a supervisor of
Continue readingKorean Inheritance Tax Abolition for Spouses of Decedents under Korea’s Inheritance Tax Law
South Korea, as an effective inheritance tax rate, has one of the highest gift and inheritance taxes in the world. IPG Legal works with expats and the families of Korean and foreign nationals on Korean inheritance, gift tax, estate planning, and other complex international estate and family law matters, and many of our clients welcome the proposed revision to Korea’s Inheritance Tax and Gift Tax Act and are hoping that Korea shall move to amend the law to allow more exemptions and exclusions. For other articles on
Continue readingKorean Supreme Court Amends Method of Deducting Survivors’ Benefits from Damage Compensation
The Supreme Court of Korea, in an en banc decision, amended the method of deducting survivors’ benefits from damage compensation claims in the event of death of public officials or private university professors who are eligible to receive civil servant or private school pensions after retirement due to work-related accidents. The Korean Supreme Court adopted the “deduction after inheritance” method, which mandates that compensation claims are first distributed to heirs and then deducted from the share of heirs who are eligible to receive survivors’ pensions, thus, increasing
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