South Korea’s ultra-wealthy are setting up family offices in Hong Kong to benefit from lower taxes and relaxed regulations. Hong Kong, with over 2,700 single-family offices managing assets of at least USD10m, offers an inheritance tax rate of 0%, compared to Korea’s 50%. The city also provides corporate tax breaks and exemptions on capital gains and dividends. The Hong Kong government has revived its Capital Investment Entrant Scheme and cut the required investment holding period, making it easier for foreign investors, including Koreans, to relocate assets. With a simple family office setup process and strong financial infrastructure, Hong Kong remains a top offshore wealth hub. Analysts say its tax policies and financial services make it a prime destination for Korea’s high-net-worth individuals.