Monthly Rent Tax Credit in Korea: Who Qualifies and How Much
Korean renters earning up to 80 million won a year can claim 15-17% of annual rent (capped at 10 million won) as a tax credit - up to 1.7 million won back.
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Policy & Rates 76 posts
Calculating Korea’s Acquisition Tax: Rates by Home Count and Price
Korea's acquisition tax (chwideukse) hinges first on how many homes your household will own after the purchase, not how many you own now. One home: 1–3%; a second in a regulated zone or a third elsewhere: 8%; above that: 12%.
Fixed Date vs. Move-in Report: The Order That Protects Your Deposit
In a Korean lease, the power to protect your deposit begins at midnight the day after your move-in report. Here is when opposing power, priority, and minimum priority repayment take effect — and how a same-day bank mortgage flips the order.
Korea's Jeonse-to-Wolse Conversion Rate: Formula and Legal Cap
Converting a jeonse (lump-sum deposit lease) into wolse (monthly rent) uses a conversion rate: monthly rent times 12, divided by the converted deposit. The legal cap is the Bank of Korea base rate plus 2%. Here are the formula and worked examples.
Seller Financing (Seller-Held Mortgage): The Loan-Rule Blind Spot
Seller financing is when the seller lends the unpaid balance and registers a mortgage (geunjeodang) in their own name at transfer. Because it is a private debt between individuals, it is not directly bound by LTV/DSR loan limits.
LTV, DTI, DSR — The Calculation Order That Determines Your Loan Limit
LTV measures against property value, DTI against mortgage principal and interest, DSR against all loan payments — the actual limit is whichever of the three is smallest. Adding Stress DSR cuts the limit by about 16%.
Does an Officetel Count as a Property? Tax and Subscription Rules
The answer depends on the tax type. For subscription purposes it is not included; for acquisition tax, units acquired after August 12, 2020 are included; for capital gains tax, actual use determines the count.
Newborn Special Mortgage: Eligibility, Limits, Pre-Application Steps
The Newborn Special Mortgage targets households within two years of birth, with limits of 400M KRW for purchase and 240M KRW for jeonse. Income, asset gates, the June 27, 2025 limit reduction, and the three-month application window — per the 2026 MyHome Portal notice.
Long-Term Repair Reserve vs. Maintenance Fee — Move-Out Refund Guide
Two line items on the management fee bill have entirely different natures. One is the owner's money paid by the tenant on their behalf — fully refundable at move-out. The other belongs to whoever is living there, with no refund. Here is the legal basis and settlement procedure.
Property Tax June 1 Assessment — Bill Calculation and Checkpoints
Residential property tax is assessed in full against the June 1 owner. One day shifts who pays for a full year. From assessed value through the fair market ratio and progressive rates to the bill, plus the July/September split structure — with this year's Seoul levy data (residential +15%).