[2026-01-25]Korean Tax Authority Enforces Stricter Offshore Trust Reporting in 2025
From 2025, Korean residents who held offshore trusts even for a day must submit trust details to the National Tax Service.
The reporting system, introduced by a 2023 law revision, imposes a 10% penalty on undeclared trust assets.
The NTS will encourage voluntary compliance and strictly penalize non-reporting individuals.