Property
South Korea — Property: Foreign Ownership
Foreigners can buy property in Korea but must file an acquisition report with the local office within 60 days of the contract.
VerifiedGovernment / official sourceInvest Korea — Foreign real estate acquisition reportingLast reviewed: 2026-10-23
Why this matters
Understanding foreign property ownership in South Korea is crucial for relocating individuals to avoid potential legal issues and financial losses.
Key facts
- Under the Act on Real Estate Transactions a foreigner acquiring Korean property must file an acquisition notification with the si/gun/gu office within 60 days of the contract.
- Foreign-invested companies have a separate filing with the Ministry of Trade, Industry and Energy.
- Non-residents must also report when withdrawing funds for the purchase.
- Restricted or protected zones were not covered here.
Steps
- Determine Eligibility — Relocating individuals should research and confirm their eligibility for foreign property ownership in South Korea. However, the specific requirements and regulations for this are uncertain.
- Obtain Necessary Documents — It is unclear what documents are required for foreign property ownership in South Korea. Relocating individuals should research this further.
- Find a Property — Relocating individuals can search for properties in South Korea that are eligible for foreign ownership. However, the exact details of eligible properties and regions are uncertain.