https://www.koreatimes.co.kr/www/biz/2024/05/126_375420.html
Rich Koreans more likely to emigrate due to high taxes
A growing number of rich Koreans will likely choose to leave the country and settle elsewhere permanently, amid the heavy burden of tax levied on their wealth following a hike on asset prices and the rapidly aging population, according to experts, Monday.
www.koreatimes.co.kr
Wealthy Koreans seek to relocate as taxes increase due to rising asset prices
wealthy people = rich people = the haves 부자들, 부유한 사람들
the haves and the have-nots 가진자와 못 가진자
relocate = move abroad = emigrate 이동하다, 이전하다, 이민가다
asset prices 자산 가격
immigrate (다른나라로) 이주해 오다, 이민을 오다
A growing number of rich Koreans will likely choose to leave the country and settle elsewhere permanently, amid the heavy burden of tax levied on their wealth following a hike on asset prices and the rapidly aging population, according to experts, Monday.
a growing number of = an increasing number of 점점 증가하는 수의
leave the country = go abroad 고국을 떠나다
permanently = forever = for all time = for good = for always = for good and all 영원히
levy taxes on = impose taxes on ~에 세금을 부과하다
a hike on = a hike in = a spike in ~의 증가, ~의 급등
rapidlly aging population 빠르게 늙어가는 인구
The speculation comes after Korea was ranked seventh in the world in terms of the emigration of wealthy individuals, in a study released by the Hana Institute of Finance, Sunday. Citing data from global investment migration consultancy Henley & Partners, the Seoul-based institute said 800 high-net-worth Koreans whose net assets are valued at $1 million or more moved to other countries permanently in 2023. The number was up from the net outflow of 400 the previous year.
migrate 이동하다, 이주하다, 옮기다
immigrate (다른 곳으로)이주해 오다, 이민을 오다
emigrate (다른 나라로)이주해 가다, 이민을 가다, 이주하다
high-net-worth 고액 순 자산
be valued at ~의 가치로 평가되다
net outflow 순 유출
brain drain 두뇌 유출(우수한 기술과 자격을 가진 이들이 더 나은 보수와 근무 조건을 찾아 다른 나라로 빠져나가는 것)
exodus (많은 사람들이 동시에 하는) 탈출, 이동
The institute said Korea would be ranked the second-highest in the world, when considering the rate of millionaire emigrants in proportion to the country’s total population. China had the biggest exodus of millionaires at 13,500 in 2023 but its population is more than 28 times larger than that of Korea's, the report noted.
be ranked the second-highest in the world 세계에서 2번째로 높게 랭크되다
in proportion to ~와 비례하여, ~와 균형을 이루어
exodus (많은 사람들이 동시에 하는) 탈출, 이동
Speaking on condition of anonymity, a staffer from a private bank’s wealth management division said more rich people may leave the country as their assets increase in value amid persistently high inflation and that they may be subject to heavier taxation. “For instance, a comprehensive real estate holding tax is imposed on a single homeowner whose home is valued at more than 1.2 billion won ($878,900),” the staffer said, referring to a tax that has been described as a punitive measure, by some, for owners of expensive homes.
speaking on condition of anonymity 익명으로 말하면, 익명으로 말해서
unanimity 만장일치
wealth management division 자산관리 부서
increase in value 가치의 증가
be subject to ~의 대상이다, ~의 지배를 받다, ~에 걸리기 쉽다
holding tax 부유세
punitive measure = penalty = punishment 징벌적 조치, 징벌
He then pointed out that the price of apartments, the most popular form of housing in Korea, averages 1.29 billion won in Seoul. “This means numerous Seoul citizens will be required to pay punitive taxes for living in apartments, and the burden of such taxation is apparently heavier for rich people,” he said.
point out = criticize = censure = denounce = reprimand = reprehend = repuke = reprove = admonish = inculacate = blame = slash = condemn = pick on = lash out 비난하다, 혹평하다, 비판하다
numerous = many = a lot of = considerable = a multitude of = a great deal of 많은, 상당한
punitive taxes 가혹한 세금
the burden of taxation 세금의 부담
apparently = outwardly = on the surface = ostensibly = on the face of it = seeminglhy = at first sight 겉보기에는, 듣자하니
Kim Je-kyung, a chief consultant at real estate agency Tumi, viewed the burden of inheritance tax can be another reason for rich Koreans’ exodus, as more Koreans are getting older and want to pass down wealth to their children before their death. Kim noted Korea is ranked second in the OECD after only Japan regarding inheritance tax rates. The maximum inheritance tax rate in Korea is 50 percent, compared to Japan's 55 percent and the OECD average of 25 percent.
inheritance tax 상속세
holding tax 보유세
income tax 소득세
corporate tax 법인세
pass down wealth to ~에 부를 물려주다
“More Koreans will be asked to pay inheritance tax as the country turns into a super-aged society, and they certainly may want to keep their fortune by moving to another country with far less tax on inherited wealth,” Kim said.
be asked to ~을 하도록 요청 받다
turn into = develop into = be converted into = be transformed into = be change into ~으로 변하다, ~으로 발전하다
super-aged society 초고령화 사회
keep one's fortune ~의 재산을 지키다
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