28 January 2024
Mijung Kim interviewed by Korea Economic Daily: “No Inheritance Tax, No Dividend Tax in Singapore”
Features Kim Mijung
Mijung was interviewed on Korea Economic Daily by Jieun Ha. The article addressed the reality of global wealthy individuals flocking to Singapore, especially for Korean high net individuals due to the high inheritance tax in Korea. Written as a tax planning investigative report, the article highlighted the increasing trend of wealthy Koreans immigrating to Singapore or establishing investment corporations in the country for tax efficiency purposes.
The journalist quoted Mijung in her capacity as Head of the Korea Desk at TSMP, one of Singapore’s major law firms, where she explained, “In addition to inheritance and gift taxes, various tax benefits are also enticing businesses and asset owners to Singapore. For retired corporate executives and financial asset owners, Singapore is the optimal place for continuously benefiting from their assets. Korea is a regulated country where the movement of assets is not easy, and there are many measures to prevent offshore asset avoidance.” Mijung also emphasied that clients considering immigration or investment in Singapore carefully evaluate such risks before making decisions.
Other news
5 December 2024
Stefanie Yuen Thio’s travel story about her trip to Mongolia published in BTLuxe: “Memories of Mongolia”
3 December 2024
Stefanie Yuen Thio quoted in Singapore Business Review: “Mediation drives legal hiring growth in Singapore”