Lee clarifies tax relief for temporary non-resident homeowners

Apr 01, 2026, 10:16 am

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President Lee Jae-myung speaks during a Cabinet meeting at the presidential office in Seoul on March 31. / Yonhap News

President Lee Jae-myung said on April 1 that homeowners who temporarily do not reside in their single home due to unavoidable reasons may still qualify for tax relief.

In a post on X (formerly Twitter), Lee explained that individuals who cannot live in their homes due to work or their children’s education would be excluded from stricter taxation measures.

“If a home is used for residential purposes—not for gap investment—but the owner is temporarily non-resident due to unavoidable reasons such as work, it is clearly excluded,” he wrote.

His remarks appear aimed at easing concerns that genuine homeowners could be unfairly targeted as the government reviews plans to reduce tax benefits for non-resident single-home owners.

Lee also pushed back against related media reports, stating that his previous comments already clarified that tax benefits should not apply to homes held for investment or speculative purposes.

“According to the remarks quoted in the article, I already stated that if a non-resident single home is used for investment or speculation, long-term holding tax benefits are not appropriate,” he said. “It is contradictory to take issue with unavoidable situations such as work or children’s education in the same analysis.”

He added that he hopes for more accurate reporting based on proper analysis.

Earlier in January, Lee had indicated plans to revise tax policies, stating that even for single-home owners, tax benefits should be limited if the property is held for speculative purposes.

Under current rules, single-home households can receive up to an 80% deduction on capital gains if they have owned and lived in the property for more than 10 years.

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