Title: "South Korea's 'House Poor' Face New Threat: A $2 Million Tax Bill"

A proposed change to South Korea's inheritance tax is causing widespread alarm. The government wants to lower the threshold for taxing inherited property, a move that could hit millions of middle-class families. Currently, only the wealthiest 2% pay this tax. It applies when a single person inherits assets worth over $2.2 million. The new plan would cut this limit in half, to about $1.1 million. This change targets a specific group: the "house-rich, cash-poor." In major cities like Seoul, ordinary apartments often exceed the new proposed limit in value. While families own these homes, they rarely have the large amounts of cash needed to pay a tax bill that can reach 50% of the property's value. Experts warn this could force people to sell their family homes. "The core issue is liquidity," explains a tax professor. "These are not wealthy people with diverse investments. Their wealth is locked in the roof over their heads." The government argues the reform will make the system fairer and generate needed revenue. Critics call it a blunt tool that unfairly penalizes middle-class families who saw property values rise through no direct action of their own. The debate continues as lawmakers decide whether to pass the proposal. For many South Koreans, the outcome will determine if they can afford to keep their most valuable asset: the family home.