Korean Tax Blog

Do Foreign Homeowners Need to Pay Property Tax in Korea by September 30? "I own an apartment in Korea. Do I need to pay property tax even if I'm a foreigner?" If you own residential property in Korea, you may be required to pay Korean Property Tax (재산세) regardless of your nationality. With the September payment deadline approaching, foreign homeowners should check whether they have any outstanding property tax obligations. Who Needs to Pay Property Tax? In Korea, property tax

Buying an Apartment in Korea’s Regulated Areas: A Guide for Foreigners “I am a foreigner planning to buy an apartment in Korea for my own residence. What if the property is located in a regulated area?” Foreigners can purchase apartments in Korea, but additional procedures and restrictions may apply when the property is located in a Land Transaction Permission Zone (토지거래허가구역) or a Speculative Overheated District (투기과열지구). These two designations have different purposes and sho

Do Foreign Property Owners Have to Pay Comprehensive Real Estate Tax in Korea? “I own property in Korea. Could I be subject to Korea’s Comprehensive Real Estate Holding Tax?” If you are a foreigner who owns residential property in Korea, Comprehensive Real Estate Holding Tax may be something you need to check. Being a foreign national does not automatically exempt you from this tax. Under Korean law, liability is generally connected to ownership of taxable property in Korea a

Do Foreigners Pay Tax When Buying a Property in Korea? “I’m a foreigner living in Korea. If I buy a house or apartment in Korea, do I have to pay taxes?” Yes. Foreigners who purchase real estate in Korea can be subject to the same major property-related taxes as Korean buyers. However, the exact taxes and amounts can depend on the type of property, purchase price, and individual circumstances. What Taxes Do You Pay When Buying Property? The main tax you should be aware of whe