Korean Tax Blog

How Do Foreigners File Income Tax in Korea as a Business Owner? “I’m a foreigner running a business in Korea. How do I file and pay income tax?” If you operate a business in Korea as an individual business owner, you may have to file a Global Income Tax Return (종합소득세 신고) in Korea. Being a foreigner does not automatically exempt you from Korean income tax. When Do Foreign Business Owners File Income Tax? Korea generally requires individuals with business income to file their a

Do Foreigners Working Remotely in Korea Have to Pay Korean Tax? “I work for a foreign company, but I live and work remotely from Korea. Do I have to pay Korean tax?” This is becoming an increasingly common question among foreigners living in Korea. The answer depends on factors such as your tax residency, where you perform your work, and the nature of your employment and income. Working for a Foreign Company Doesn't Automatically Mean No Korean Tax Some people assume that if

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

Korea’s Exit Tax: What Foreigners Leaving Korea Need to Know “I’m planning to leave Korea and move abroad. Will I have to pay tax on the stocks I own?” If you are a foreigner living and working in Korea and planning to move abroad, it is important to understand Korea’s Exit Tax before you leave. What Is Korea’s Exit Tax? Korea’s Exit Tax may apply to unrealized gains on certain stocks and other assets when a person who meets specific requirements leaves Korea. In simple terms

Korea Crypto Tax: What Will Change in 2027? “If I sell my cryptocurrency for a profit, will I have to pay tax in Korea?” This is an important question for foreigners living and investing in Korea. Korea’s taxation system for income from virtual assets is scheduled to take effect on January 1, 2027. The implementation has been postponed several times, including another two-year postponement through tax legislation enacted in December 2024. Under the current rules, income from

Do Foreigners Have to Pay Gift Tax in Korea? “My parents want to send me money from overseas. Do I have to pay tax in Korea?” This is an important question for foreigners living in Korea, especially when receiving money or property from family members. The answer depends largely on your Korean tax residency status and where the gifted property is located. 1. Does Korea Have a Gift Tax? Yes. Korea imposes gift tax (증여세) when property or economic value is transferred to another

Korean Year-End Tax Settlement: What Foreign Employees Should Know If you work for a company in Korea, you may have heard the term “Year-End Tax Settlement” (연말정산). But what exactly is it, and do foreign employees have to do it? What Is Year-End Tax Settlement? Year-end tax settlement is the process of calculating your final income tax for the year based on your salary, deductions, and tax credits. Your employer withholds income tax from your monthly salary throughout the yea

How Much Income Tax Do Foreigners Pay in Korea in 2026? If you are a foreigner working in Korea, you may have wondered: “How much income tax do I have to pay in Korea?” One important tax rule for foreign employees in 2026 is Korea’s 19% flat income tax rate. The 19% Flat Tax Rate for Foreign Employees Certain foreign employees who meet the requirements can choose a 19% flat tax rate instead of Korea’s progressive income tax rates. This can be particularly beneficial for high-

Do Foreigners Living in Korea Pay Tax on Overseas Income? “I live and work in Korea, but I also have income from my home country. Do I need to pay tax in Korea?” This is a common question among foreigners living in Korea. The short answer is: It depends on your Korean tax residency and the type of income you receive. 1. Being a foreigner doesn't mean you only pay tax on Korean income Korean tax law generally distinguishes between residents and non-residents. If you are consid

What Will Change Under the 2026 Tax Laws? Key Points of the 2026 Tax Reform Proposal for Business Owners and Real Estate Owners Hello, We are Jz Associates, helping business owners and company representatives navigate their tax-related concerns. Tax laws change every year, but this year there are several noteworthy proposed changes, particularly regarding real estate, business succession, and corporate taxation. On August 3, 2026, the Korean government announced the 2026 Tax