Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Why Koreans become less willing to make post-death donations
Central and municipal government officials pose during the lighting of the "Love thermometer" for a year-end donation campaign at Gwanghwamun Square in central Seoul, Dec. 2, 2024. Yonhap
By Yi Whan-woo
Financial insecurity, tax burden, social trust are behind record-low willingness
Choi, a retiree in his 70s, says he is not alone among his peers in feeling skeptical about donating wealth after death, citing longer lifespans, financial insecurity and a growing tax burden among several reasons.
“I used to be open to the idea of posthumous donations, but now I’m not sure I can,” said Choi, who asked to be identified only by his last name.
“Most of my money goes toward daily living, and I also want to ensure there is enough left for my children after I pass away. With these needs, I’m not sure whether I could spare anything for donation as well.”
Choi’s perspective reflects a broader trend in Korea, where willingness to make post-death donations has fallen to a record low this year.
A survey released by the Ministry of Data and Statistics this week found that only 22.2 percent of respondents were willing to donate their assets posthumously.
The survey tracks a wide range of societal issues, with specific topics revisited every two to four years.
It showed that the figure has steadily declined from 34.5 percent in 2015, to 26.7 percent in 2019, 23.2 percent in 2023 and 22.2 percent in 2025 — the lowest since the question was first asked in 2011.
By age group, willingness was lowest among those aged 65 or older at 13.2 percent, followed by those aged between 60 and 65 at 15.5 percent.
In contrast, all other age groups recorded proportions in the 20 percent range: teenagers aged 13 to 19 at 29 percent, those in their 20s at 25.7 percent, 30s at 21.2 percent, 40s at 25.5 percent and 50s at 26.3 percent.
“The data suggest that as people grow older and confront the realities of aging, they become more cautious about leaving donations,” said Shin Se-don, professor emeritus of economics at Sookmyung Women’s University. “With longer lifespans, many realize they may not even have enough to support themselves, let alone spare money for others after death.”
Jung Ho-chul of the Citizens’ Coalition for Economic Justice pointed to social distrust as another key factor.
“Even those who can afford to donate may hesitate due to irregularities and scandals in charity foundations, reflecting a broader erosion of trust in such institutions,” he said.
An economics professor who spoke on condition of anonymity also noted that Korea’s high inheritance tax, along with potential increases targeting those considered wealthy by social norms, may discourage donations.
“It’s ultimately up to individuals whether to give their wealth to society or their families,” he said. “But with one of the highest inheritance tax rates among OECD countries, many feel they are left with little choice.”
While willingness to make donations during one’s lifetime has shown a modest recovery, it remains well below the level a decade ago.
The rate rose to 39.6 percent this year, up from 37.2 percent in 2021 and 38.8 percent in 2023, but still below 45.2 percent recorded in 2015.