---
title: "Foreign-buyer Property — Jeonse, Wolse, and the Foreigner's Land Acquisition Act"
country: "south-korea"
service: "foreign-buyer-property"
category: housing
difficulty: complex
estimated_time: "Purchase: roughly 30-60 days from offer to registered title for a single-residence outside a permission zone. Lease: same-day move-in registration plus fixed-date stamp; HUG deposit-return guarantee review typically 2-4 weeks."
cost_range: "Purchase: blended transaction overhead commonly ~3-5% of price (acquisition tax, surtaxes, bonds, broker, judicial scrivener). Lease: deposit varies widely by lease shape; ancillary fees under ₩100,000 for registry pulls, fixed-date stamp, and move-in registration."
last_verified: 2026-05-23
canonical: https://publicservices.guide/foreign-buyer-property-jeonse-wolse-and-land-acquisition-act/
status: current
confidence: low
tags:
  - "foreign-buyer"
  - jeonse
  - wolse
  - "real-estate"
  - housing
  - flaa
  - "hug-guarantee"
  - "permission-zone"
  - "tenant-protection"
sources:
  - https://elaw.klri.re.kr/eng_service/lawView.do?hseq=6218&lang=ENG
  - https://elaw.klri.re.kr/eng_service/lawView.do?hseq=39955&lang=ENG
  - https://www.kimchang.com/en/insights/detail.kc?sch_section=4&idx=32799
  - https://www.koreatimes.co.kr/economy/policy/20260209/govt-to-tighten-real-estate-purchase-rules-for-foreigners-to-curb-speculative-deals
  - https://www.khug.or.kr/hug/web/en/02/en02000001.jsp
  - https://english.seoul.go.kr/service/living/housing/1-wolse-jeonse/
  - https://www.investkorea.org/ik-en/cntnts/i-420/web.do
---

# Foreign-buyer Property — Jeonse, Wolse, and the Foreigner's Land Acquisition Act

**Country:** 🇰🇷 South Korea  
**Last verified:** 2026-05-23  
**Estimated time:** Purchase: roughly 30-60 days from offer to registered title for a single-residence outside a permission zone. Lease: same-day move-in registration plus fixed-date stamp; HUG deposit-return guarantee review typically 2-4 weeks.  
**Cost:** Purchase: blended transaction overhead commonly ~3-5% of price (acquisition tax, surtaxes, bonds, broker, judicial scrivener). Lease: deposit varies widely by lease shape; ancillary fees under ₩100,000 for registry pulls, fixed-date stamp, and move-in registration.

## Required documents

- **Real Estate Registry Certified Copy** *(등기부등본 (Deunggi-bu Deungbon))*
  - Issuer: Property Registration Office (등기소 Deunggi-so) or Internet Registry Office portal iros.go.kr
  - Cost: approximately ₩700 per copy via iros.go.kr
  - Why: Confirms ownership matches the contract signer and discloses mortgages, liens, and seizure records
  - _Note:_ Korean-language document. The registry must be re-pulled on the day of final payment, not just at contract signing — additional liens can be filed in the interim.
- **Building Register and Land Cadastre Certificate** *(건축물대장 (Geonchukmul-daejang) / 토지대장 (Toji-daejang))*
  - Issuer: Local Si/Gun/Gu office
  - When: Before contract signing on a purchase
  - _Note:_ Confirms legal building status, registered floor area, and zoning classification.
- **Passport**
  - Required for: All transaction reports, lease registrations, and HUG guarantee applications
- **Alien Registration Card** *(외국인등록증 (Oegug-in Deungrok-jeung))*
  - Required for: Move-in registration and fixed-date stamp; HUG Jeonse Deposit Return Guarantee applications
  - _Note:_ Short-stay foreigners without an ARC cannot anchor tenant protections under the Housing Lease Protection Act and are limited to short-term wolse or serviced-apartment arrangements.
- **Foreign Exchange Transaction Confirmation**
  - Issuer: Designated Korean foreign-exchange bank
  - Trigger: Required when remitting more than USD 50,000 from overseas to fund the purchase
  - _Note:_ The confirmation is required at later property registration and again when repatriating sale proceeds. A missing or invalid confirmation can freeze outward remittance.
- **Housing Acquisition Funding Plan** *(주택취득자금 조달계획서 (Juteak-chwideuk-jageum Joda-gyehoek-seo))*
  - Required for: Purchases in regulated areas including all Land Transaction Permission Zones
  - Disclosure: Capital source detail, including overseas bank deposits, foreign loans, offshore-institution holdings, and stock/bond or cryptocurrency sale proceeds applied to the purchase
  - _Note:_ Disclosure scope has been expanded under the current enforcement-rules amendment to include detailed funding-source breakdown.
- **Two-year Owner-Occupancy Commitment Statement**
  - Required for: Land Transaction Permission Zone purchases (Seoul, Gyeonggi, Incheon designated districts)
  - Commitment: Move-in within 4 months of registration; maintain physical residency for at least 2 years; rental prohibited
- **Signed Lease Contract**
  - Must show: Landlord and tenant signatures, full property address, deposit amount, lease term, monthly rent if wolse, payment schedule
  - _Note:_ Default lease term under *주택임대차보호법* (Jutaek-imdaecha-boho-beop — Housing Lease Protection Act) Article 4 is 2 years; a shorter-term contract is statutorily extended to 2 years unless the tenant elects to enforce the shorter term.
- **Bank Wire Records**
  - Required for: Lease deposit transfer and HUG guarantee application

## Costs

- **Acquisition tax (취득세) — residence ≤ ₩600,000,000:** 1 KRW — 1.0% of purchase price; applies to a single-home buyer in the base tier.
- **Acquisition tax — residence ₩600,000,000 to ₩900,000,000:** 0 KRW — Sliding-scale rate from 1.0% to 3.0% under the cross-jurisdiction commentary cited; varies by property valuation method and ownership history.
- **Acquisition tax — residence > ₩900,000,000:** 3 KRW — 3.0% of purchase price.
- **Acquisition tax — luxury housing (고급주택):** 8 KRW — Surcharge applies for properties classified as 고급주택 (go-geup-juteak — luxury housing).
- **Acquisition tax — multi-home buyer surcharge in regulated areas:** 12 KRW — Up to 12.0% for a third or subsequent residence in a regulated area. Foreign buyers' overseas-held properties are not counted toward the multi-home count — only Korean-registered properties trigger the surcharge.
- **Local education tax (지방교육세):** 0 KRW — 0.1-0.4% of purchase price; surtaxes onto the acquisition tax.
- **Special tax for rural development (농어촌특별세):** 0 KRW — 0.2% on acquisitions above the small-housing threshold.
- **Aggregate blended acquisition tax including surtaxes:** 0 KRW — Commonly quoted blended figure of ~4.6% of purchase price for the base case after combining acquisition tax (1-3%), local education tax (0.1-0.4%), and special tax for rural development (0.2%) per the InvestKOREA tax tier table. Operator-cited; varies by purchase tier and household holdings.
- **Property registration office filing fee:** 0 KRW — Small per-document fee, typically under ₩50,000 per filing.
- **Judicial scrivener (법무사) fee for residential transaction:** 0 KRW — Commonly ₩500,000 to ₩2,000,000 for a residential transaction; varies by complexity and property value.
- **Licensed real-estate agent (공인중개사) commission — purchase:** 0 KRW — Commonly 0.4-0.9% of transaction value depending on price tier.
- **National Housing Bond (국민주택채권) purchase at registration:** 0 KRW — Rate varies by property value; typically a fraction of 1% of price.
- **Real Estate Registry Certified Copy:** 0 KRW — Approximately ₩700 per copy via the Internet Registry Office (iros.go.kr) — pull at least twice (at contract signing and on balance-payment day). Operator-cited per iros.go.kr fee schedule.
- **Annual property tax (재산세 jaesan-se):** 0 KRW — 0.1-0.4% of standard assessed value.
- **Comprehensive Real Estate Tax (종합부동산세):** 0 KRW — Applies to housing portfolios above set thresholds; surcharges for non-resident multi-home owners.
- **Jeonse broker commission — lease:** 0 KRW — Commonly 0.3-0.4% of the jeonse deposit, with caps varying by deposit tier.
- **Wolse broker commission — lease:** 0 KRW — Calculated on deposit plus (monthly rent × 100) conversion equivalent; commonly 0.4-0.9% of the converted figure.
- **Fixed-date stamp (확정일자) on the lease contract:** 0 KRW — Under ₩1,000 per contract. Required to anchor the priority-claim protection on auction-sale proceeds under Article 3-2 of the Housing Lease Protection Act.
- **Move-in registration (전입신고):** 0 KRW — No fee for the registration itself; confers opposing power against subsequent third parties.
- **HUG Jeonse Deposit Return Guarantee premium:** 0.115 KRW — Approximately 0.115-0.122% of insured deposit per year. Premium varies by tenant household income tier; reduced rates for low-income, multi-child, or newlywed households.

## Steps

### 1. Verify the Property Registry and Confirm Zone Designation

- Pull the 등기부등본 (Real Estate Registry Certified Copy) from iros.go.kr at approximately ₩700 per copy. Confirm that the seller named on the contract matches the registered owner exactly, and inspect every mortgage, lien, and seizure record.
- Engage a 공인중개사 (gongin-jung-gae-sa — licensed real-estate agent) for the search phase. Brokerage commission is regulated by the Si/Do and varies by transaction tier.
- Confirm whether the property falls inside a designated zone requiring prior permission — military installation protection area, cultural heritage zone, ecological preservation zone, wildlife protection district, or a Land Transaction Permission Zone in the Seoul Metropolitan Area. Zone designation determines whether the next step is contract signing or a prior-permission application.

> **Tip:** The registry must be re-pulled on the day of final payment, not just at contract signing. Senior debts filed in the interim are the most common deposit-fraud setup.

_Links:_
- [iros.go.kr — Internet Registry Office for the certified registry copy](https://www.iros.go.kr/)

### 2. Apply for Prior Permission (Designated Zones and Permission Zones)

_Applies when: If the property falls inside a designated military, cultural, ecological, or wildlife zone, or inside a Land Transaction Permission Zone_

- Submit the prior-permission application to the head of the 시 (Si — city), 군 (Gun — county), or 구 (Gu — district) where the property is located, before signing any contract.
- Attach the 주택취득자금 조달계획서 (Housing Acquisition Funding Plan) with full capital-source disclosure, the two-year owner-occupancy commitment statement (Land Transaction Permission Zone purchases), and an intended-use statement.
- Wait for written permission. A contract concluded without prior permission is void under Korean civil law.

> **If this fails:** A contract concluded without prior permission is void — not merely voidable. The 10% earnest money is recoverable but transaction costs and lost-opportunity damages are not.

### 3. Open the Foreign Exchange Transactions Act Channel

_Applies when: If funding the purchase by inward remittance exceeding USD 50,000 from overseas_

- Designate a Korean foreign-exchange bank to receive the inward remittance. The bank files the Foreign Exchange Transactions Act report on the buyer's behalf and issues a Foreign Exchange Transaction Confirmation.
- Keep the confirmation safe — it is required at later property registration and again when repatriating sale proceeds. A missing or invalid confirmation can freeze outward remittance after eventual resale.

> **Tip:** Open this channel well before contract signing. Bank-side compliance on a USD-50,000-plus inward remittance is administratively heavier and creates the longest preventable lead-time bottleneck in the transaction calendar.

### 4. Sign the Purchase Contract

- Standard payment schedule is 10% 계약금 (gyeyak-geum — earnest money) at contract signing, with the balance at closing five to ten weeks later.
- Engage a 법무사 (beopmusa — judicial scrivener) to handle title transfer and registration. The 공인중개사 is regulated as a transaction facilitator, not a legal counsel — legal-risk due diligence is the scrivener's or an attorney's territory, not the broker's.
- Re-pull the 등기부등본 on the day balance is paid to detect any interim liens. The seller's debt position can change between contract signing and balance payment.

### 5. File the Post-Acquisition Transaction Report

- File the report with the head of the 시 / 군 / 구 within 60 days of contract execution. Under the Real Estate Transaction Reporting Act, the report includes visa status, legal-residence qualification, and a detailed funding-source breakdown — overseas bank deposits, foreign loans, offshore financial institution holdings, stock or bond sale proceeds, and cryptocurrency sale proceeds applied to the purchase.
- Attach the purchase contract, passport (and Alien Registration Card if held), proof of identity, the Foreign Exchange Transaction Confirmation, and the Housing Acquisition Funding Plan (mandatory in regulated areas).
- For inheritance or auction acquisitions, the reporting window is 6 months from acquisition, not 60 days.

> **If this fails:** Late filing attracts an administrative fine. The registry office will refuse to process ownership-transfer registration until the report is on file. The buyer holds the contract right but no perfected title.

### 6. Pay Acquisition Tax and Surtaxes

- Pay 취득세 (chwideuk-se — Acquisition Tax) within 60 days of closing at the local Si/Gun/Gu tax office. The headline rate is 1.0% for housing under ₩600,000,000, rising to 3.0% for housing above ₩900,000,000, with luxury-housing and multi-home surcharges up to 12%.
- The 지방교육세 (Local Education Tax, 0.1-0.4%) and 농어촌특별세 (Special Tax for Rural Development, 0.2% on acquisitions above the small-housing threshold) ride on the acquisition-tax base.
- Mandatory 국민주택채권 (National Housing Bond) purchase at registration. Rate varies by property value.

> **Tip:** The 1.0% headline rate applies only to a single-home buyer at the lowest tier. The blended effective rate after surtaxes is closer to 4.6% even for the base case. Request an itemised calculation from the 법무사 before contract signing.

### 7. Register the Title Transfer at the Deunggi-so *(등기소)*

- The 법무사 files the title-transfer application at the local 등기소 (Deunggi-so — property registration office). Under Civil Act Article 186, registration is constitutive of ownership — until registered, the buyer holds no enforceable title against third parties.
- The registry office will not process the registration without evidence of the filed acquisition report and proof of acquisition-tax payment.
- Typical processing: 5-10 business days from filing of a complete application.

> **If this fails:** Without the Foreign Exchange Transaction Confirmation or the filed acquisition report, the registration office returns the application. The contract right is preserved but title remains unperfected until the missing element is supplied.

### 8. Lease Path — Same-day Move-in Registration plus Fixed-date Stamp

_Applies when: If leasing rather than purchasing_

- On move-in day, complete two registrations at the local 동주민센터 (dong-jumin-senter — neighbourhood administrative centre) — same day, before unpacking.
- 전입신고 (jeon-ip-shin-go — move-in registration) confers opposing power against subsequent third parties under Housing Lease Protection Act Article 3. No fee for the registration itself.
- 확정일자 (hwak-jeong-il-ja — fixed-date stamp) on the lease contract confers priority claim on auction-sale proceeds under Article 3-2. The stamp is applied at the dong centre for under ₩1,000.
- Apply for the HUG Jeonse Deposit Return Guarantee at a HUG sales branch or Wooribank branch with the stamped lease, the move-in record, the registry copy showing the deposit-to-value ratio at or below 90%, and identity documents. Premium is approximately 0.115-0.122% of insured deposit per year.

> **Tip:** Even a single day's delay between physical move-in and the dong centre visit opens a window during which the landlord can take out new senior loans that outrank the tenant's deposit claim on auction. The discipline is move in, then go to the district office, before you unpack.

_Links:_
- [HUG English portal — Jeonse Deposit Return Guarantee](https://www.khug.or.kr/hug/web/en/02/en02000001.jsp)

## FAQ

### Can a foreigner buy property in Korea on a tourist visa?

Yes, the *외국인토지법* (Oegug-in Toji Beop — Foreigner's Land Acquisition Act) does not gate purchase on visa class. The legal door is open to any non-Korean individual regardless of residency. Three practical limits apply: (a) any acquisition inside a Land Transaction Permission Zone (Seoul, Gyeonggi, Incheon designated districts since 26 August 2025) requires a two-year owner-occupancy commitment that a tourist visa cannot satisfy; (b) the post-acquisition transaction report filed within 60 days now includes visa-status disclosure under the enforcement-rules amendment effective 11 February 2026; and (c) opening the Foreign Exchange Transactions Act bank report for the inward remittance is more straightforward with at least short-term resident standing. Tourists buying outside the permission zones face no statutory bar but should expect the bank-side compliance step to be administratively heavier.

### What happens if I miss the 60-day post-acquisition reporting deadline?

Two consequences attach. An administrative fine is imposed for late filing. More consequentially, the 등기소 (Deunggi-so — property registration office) will refuse to process the ownership-transfer registration until the report is on file. Under Civil Act Article 186, property registration is constitutive of ownership — a buyer who has paid in full but not yet registered does not hold enforceable title against third parties. The buyer therefore holds the contract right but no perfected title until the report is filed. Inheritance and auction acquisitions follow a different timetable: a 6-month reporting window applies, not 60 days.

### What is the difference between deunggi and jeon-ip-shin-go?

등기 (Deunggi — property registration) is the buyer's title-perfection step at the local 등기소 (Deunggi-so — property registration office), performed by a 법무사 (beopmusa — judicial scrivener) acting on the buyer's behalf. It perfects title under Civil Act Article 186 — until deunggi is complete, the buyer has no enforceable title against third parties. 전입신고 (jeon-ip-shin-go — move-in registration) is the tenant's residency-notification step at the 동주민센터 (dong-jumin-senter — neighbourhood administrative centre). It confers opposing power against subsequent purchasers and mortgagees under Housing Lease Protection Act Article 3. Different acts at different offices serving different purposes. Confusing the two is one of the most common pitfalls for foreign buyers who are also tenants in their first months in Korea.

### Are jeonse loans available to foreigners?

Standard Korean-bank jeonse loans require Korean credit history that most foreigners lack. Some second-tier banks and the HUG Jeonse Deposit Loan Guarantee program will entertain foreigners with at least 6-12 months of Korean residence, a held Alien Registration Card, and verified Korean income. Terms are typically less favourable than for Korean borrowers. In practice, most short-stay foreigners fund jeonse from own savings or an overseas wire, or default to wolse rather than jeonse. The HUG Jeonse Deposit Return Guarantee (the deposit-insurance product) is separately available to foreign tenants with broader eligibility than the loan product.

### Which Seoul districts are inside the August 2025 Land Transaction Permission Zone?

All 25 자치구 (jachi-gu — autonomous districts) of Seoul are designated. Additionally, 23 cities and counties in 경기도 (Gyeonggi-do) and 7 districts of Incheon. Covered property types: single-family houses, multi-family houses, apartment buildings, condominium houses, and multi-unit houses. The designation took effect on 26 August 2025 and runs through 25 August 2026, with potential extension. Officetel units carry commercial zoning and are excluded from the designation. Foreign buyers acquiring in the permission zones must obtain prior land-transaction permission, commit to two-year owner-occupancy with rental prohibition, and complete physical move-in within four months of registration.

### Can I get a Korean visa by buying property?

Standard residential purchase does not grant any visa status. A separate Investor Visa class is available for high-value real-estate investments in specific designated tourism-resort or development projects, with minimum-investment thresholds in the hundreds of millions of won (typically ₩500,000,000 to ₩700,000,000 in qualified projects such as Jeju resort-residences or Incheon Free Economic Zone projects). General apartment purchase does not qualify. The Investor Visa is administered separately from property acquisition and has its own application track.

### What is the HUG Jeonse Deposit Return Guarantee and how does a foreign tenant apply?

HUG (주택도시보증공사 Jutaek-Dosi-Bojeung-gongsa — Korea Housing & Urban Guarantee Corporation) issues a guarantee that, if the landlord fails to return the jeonse deposit at lease end, HUG will reimburse the tenant directly. Foreign tenants are eligible. Application is made at a HUG sales branch or at a Wooribank branch, with: the lease contract carrying the fixed-date stamp, the move-in registration record, the Real Estate Registry Certified Copy showing jeonse-to-property-value ratio at or below 90%, and identity documents (passport plus Alien Registration Card). Premium is approximately 0.115-0.122% of insured deposit per year, with reduced rates for low-income, multi-child, or newlywed households. Review and approval typically completes within 2-4 weeks; the guarantee issues upon premium payment.

### What is the kkangtong-jeonse risk and how do I avoid it?

깡통전세 (kkangtong-jeonse — tin-can jeonse) is the configuration in which the landlord has stripped the property of equity via senior loans plus a high jeonse deposit, leaving auction-sale recovery mathematically impossible if the landlord defaults. The standard red-flag threshold is jeonse deposit + senior debt > 70% of market value; above 80% is unsafe; at or above 100% is a near-certain loss in default. Three defences: (a) pull the 등기부등본 registry on contract day AND on balance-payment day to detect any interim liens; (b) verify the jeonse-to-value ratio stays at or below 70% before committing; (c) apply for the HUG Jeonse Deposit Return Guarantee, which will not insure when the ratio exceeds 90% but covers most safe ranges. Foreigners signing in Seoul villa neighbourhoods where land prices have softened are disproportionately exposed.

### Are there restrictions on what kind of land a foreigner cannot buy at all?

The 외국인토지법 does not categorically prohibit any land class to foreigners, but imposes a prior-permission gate on land inside designated military installation protection areas, designated cultural-property zones, ecological preservation zones, and wildlife protection districts. Permission may be denied on national-security, cultural-protection, or ecological grounds. Separately, under Article 3 of the same statute, the Minister of Land, Infrastructure and Transport may by ministerial order prohibit or limit acquisition by nationals of countries that prohibit or limit Korean nationals from acquiring land within their territory (the principle of reciprocity). No general reciprocity prohibition is in force at present, but individual transaction-level scrutiny on this ground remains discretionary.

### What happens if I inherit Korean property as a foreigner?

Inheritance does not require prior permission. The foreign inheritor must file a post-acquisition report with the head of the 시 / 군 / 구 within 6 months of the inheritance — distinct from the 60-day window for contract-based acquisition. If the inherited property falls inside a designated military, cultural, ecological, or wildlife zone, the inheritor must either sell to a Korean national within a period prescribed by Presidential Decree or apply for ex-post permission from the Si/Gun/Gu head to continue holding. The same 6-month reporting window applies to acquisitions by court auction or other non-contract means. A Korean national who changes nationality and wishes to retain land already held in Korea files a continued-holding report within 6 months of the nationality change.

## Local tips

- 등기 (Deunggi — property registration) is the buyer's title-perfection step at the 등기소 (Deunggi-so — property registration office). 전입신고 (jeon-ip-shin-go — move-in registration) is the tenant's residency-notification step at the 동주민센터 (dong-jumin-senter — neighbourhood administrative centre). Different acts, different offices, different purposes — do not conflate.
- Move-in registration plus fixed-date stamp must be completed on the same day as physical move-in. Even a one-day delay opens a window in which the landlord can take out new senior loans that outrank the tenant's deposit claim on auction-sale.
- The 1.0% headline acquisition-tax rate applies only to residences under ₩600,000,000 for a single-home buyer. Blended effective rate after surtaxes is closer to 4.6% even for the base case; luxury or multi-home rates can reach 12%. Request an itemised calculation from the judicial scrivener before contract signing.
- A contract concluded inside a Land Transaction Permission Zone without prior permission is void under Korean civil law — not merely voidable. The 10% earnest money is recoverable, but transaction costs and lost-opportunity damages are not.
- Inheritance acquisition follows a 6-month reporting window (not 60 days), and prior permission is not required. Where inherited property falls inside a designated military, cultural, ecological, or wildlife zone, the inheritor must either sell to a Korean national within a prescribed period or apply for ex-post permission to continue holding.

## Sources

- [Korea Legislation Research Institute (KLRI) — English statute reference](https://elaw.klri.re.kr/eng_service/lawView.do?hseq=6218&lang=ENG) — accessed 2026-05-23 — _T1_ — The Foreigner's Land Acquisition Act establishes the post-acquisition reporting regime: a foreigner who concludes a contract for land acquisition within the Republic of Korea must report the contract to the head of the Si/Gun/Gu within 60 days of conclusion. Where acquisition occurs by inheritance, auction, or any cause other than contract, the report window is 6 months from acquisition. Article 3 authorises the Minister of Land, Infrastructure and Transport to prohibit or limit acquisition by nationals of countries that prohibit or limit Korean nationals from acquiring land within their territory (principle of reciprocity); no general prohibition is in force at present. Statutory provision reconstructed from KLRI English reference plus IPG Legal Korean Law Blog plus ecolex.org metadata — the three sources converged identically; primary statute portal law.go.kr was not directly accessible by the foreign-language reader path used.
- [Korea Legislation Research Institute (KLRI) — Housing Lease Protection Act English reference](https://elaw.klri.re.kr/eng_service/lawView.do?hseq=39955&lang=ENG) — accessed 2026-05-23 — _T1_ — The Housing Lease Protection Act guarantees a 2-year contract period, with tenants having the right to request one renewal for an additional 2 years (Article 4 and Article 6-3). Under Article 3, where the lessee is provided with a house and completes resident registration, the lease shall take effect against any third person from the following day thereof (opposing power). Article 3-2 confers priority claim on auction-sale proceeds when the fixed-date stamp is secured on the lease contract. Rent increase on renewal is capped at 5% of prior rent. The Housing Lease Dispute Mediation Committee provides a non-litigation route under the joint authority of the Ministry of Justice and the Ministry of Land, Infrastructure and Transport.
- [Kim & Chang — Foreigners Subject to Land Transaction Approval (Seoul Metropolitan Area)](https://www.kimchang.com/en/insights/detail.kc?sch_section=4&idx=32799) — accessed 2026-05-23 — _T2_ — Effective 26 August 2025, the Ministry of Land, Infrastructure and Transport designated all 25 districts (gu) of Seoul, 23 cities (si) and counties (gun) in Gyeonggi-do, and seven districts (gu) in Incheon as Land Transaction Permission Zones. Covered property types: single-family houses, multi-family houses, apartment buildings, condominium houses, and multi-unit houses. Foreign-equivalent entities (corporations or organisations established under foreign laws; entities where foreign individuals or corporations hold one-half or more of the capital or one-half or more of the voting rights) are also subject to the approval requirement. Designation runs through 25 August 2026 with potential extension.
- [Korea Times — visa-status-disclosure rule effective 11 February 2026](https://www.koreatimes.co.kr/economy/policy/20260209/govt-to-tighten-real-estate-purchase-rules-for-foreigners-to-curb-speculative-deals) — accessed 2026-05-23 — _T2_ — Under a revision to the enforcement rules of the Real Estate Transaction Reporting Act, foreign nationals who sign property purchase contracts starting 11 February 2026 are required to disclose their visa status and whether they qualify as legal residents when filing transaction reports to local authorities. The expanded funding-source disclosure includes: overseas bank deposits and foreign loans; offshore financial institution details; proceeds from stock or bond sales used for purchase funds; and cryptocurrency sale proceeds applied to home purchases. The enforcement-rules amendment was reported alongside data indicating 416 referred cases of illegal foreign-buyer real-estate transactions to customs, immigration, and police authorities.
- [Korea Housing & Urban Guarantee Corporation (HUG) — English portal](https://www.khug.or.kr/hug/web/en/02/en02000001.jsp) — accessed 2026-05-23 — _T1_ — HUG issues the Jeonse Deposit Return Guarantee, which reimburses the tenant if the landlord fails to return the jeonse deposit at lease end. Foreign tenants are eligible. Application is made at a HUG sales branch or a Wooribank branch with the lease contract carrying the fixed-date stamp, the move-in registration record, the Real Estate Registry Certified Copy showing jeonse-to-property-value ratio at or below 90%, and identity documents. Premium is approximately 0.115-0.122% of insured deposit per year, with reduced rates for low-income, multi-child, or newlywed households. HUG counselling is available at the 1566-9009 hotline.
- [Seoul Metropolitan Government — Wolse vs Jeonse guidance for foreign residents](https://english.seoul.go.kr/service/living/housing/1-wolse-jeonse/) — accessed 2026-05-23 — _T1_ — Korean residential leases come in two dominant shapes. Jeonse is a lump-sum lease deposit commonly 50-70% of the property's market value, ranging in absolute terms from roughly ₩100,000,000 to several hundred million won for a Seoul apartment, paid in lieu of monthly rent with full recovery at lease end. Wolse is a monthly-rent structure with a smaller deposit typically ten to twenty times the monthly rent (often ₩5,000,000 to ₩20,000,000) plus monthly rent commonly ₩500,000 to ₩1,500,000 for a Seoul studio or one-bedroom. Specific figures vary by city, neighbourhood, and property condition. The Seoul Foreign Resident Center offers real-estate consulting in seven languages on Mondays from 14:00 to 17:00; the Seoul citizen hotline is 02-120 (domestic) or +82-2-731-2120 (international).
- [InvestKOREA — Applicable Taxes on Korean Real Estate](https://www.investkorea.org/ik-en/cntnts/i-420/web.do) — accessed 2026-05-23 — _T1_ — Acquisition tax (chwideuk-se) is the central transaction tax on Korean real-estate purchases. The base residential rate is 1.0% for housing under ₩600,000,000, rising in tiers toward 3.0% for housing between ₩600,000,000 and ₩900,000,000 and 3.0% above ₩900,000,000. Local education tax (0.1-0.4%) and special tax for rural development (0.2% on acquisitions above the small-housing threshold) ride on the acquisition-tax base. Registration tax was folded into the acquisition tax bundle in 2011 and is no longer a separate item. Annual property tax (jaesan-se) of 0.1-0.4% of standard assessed value and the Comprehensive Real Estate Tax (jongbu-se) for portfolios above thresholds apply post-acquisition.

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