South Korea's Ministry of the Interior and Safety will raise the assessed-value threshold for the luxury-home acquisition tax surcharge from 900 million won to 1.2 billion won, reducing the number of properties subject to the additional 8-percentage-point levy. The package also expands first-time buyer relief to qualifying residential officetels and buyers under 40, raises the maximum reduction from 2 million won to 3 million won, and allows eligible staged purchases to receive up to 6 million won in total relief. It extends a 0.05-percentage-point property tax reduction for single-home households with homes assessed at 900 million won or less through 2029, converts the 43.99% tobacco-related local education tax into a local housing welfare tax without increasing the overall burden, and directs further incentives toward public housing, regional unsold apartments, redevelopment, cooperatives and population-decline areas. The amendments will undergo legislative notice from the 27th through September 23 and are scheduled for submission to the National Assembly in late October.