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NAME 스타부동산 DATE17-04-19 VIEW7 COMMENT0

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LIVING INFORMATION

 

 
Housing
 
Wolse (Monthly Payment + Deposit)
Wolse requires the renter to deposit a fixed sum with a landlord after which monthly rent is to be paid on a specified date each month.
The amount of the security deposit for wolse is lower than that for jeonse. The amounts of the security deposit and monthly rent are negotiable.
The deposit sum can be increased in order to lower the monthly rental charge.
The lessee should pay monthly utility charges (electricity, water, gas, phone, Internet, and TV reception).
 
Jeonse (Key Money Deposit)
Jeonse, or the key money deposit, is a housing rental system specific to Korea.
Instead of paying monthly rent to a landlord, a large lump sum payment is deposited into the landlord’s bank account for the duration of the contract.
By law, Jeonse contracts are signed for two years. At the end of the contract, the deposited amount is returned to the renter.
Some landlords prefer this method because they can collect interest from the amount deposited in the bank. Another reason why some landlords may prefer the Jeonse method is simply because they have purchased the property with Jeonse contracts themselves.
Some may not like the key money deposit method since depositing a large sum of money comes with risks, not to mention the difficulty of trying to come up with a large sum of money all at once. However, this method is the most advantageous for tenants since the full deposited sum is returned at the end of the contract. When looking to rent on a key money deposit method, the first step you must take is to check that there are no unpaid loans. It is imperative that you check the building’s register before you sign.
 
 
Types of Residence
 
Types of residences available in Korea are serviced residence, apartment, one-room studio, multi-family residence, hanok (Korean traditional house), etc.
 
Serviced Residences
Serviced residences are furnished apartment buildings for both short- and long-term visitors to Seoul.
They have all the necessities of a modern apartment
These units are usually two to three times bigger than your average hotel room and usually include a kitchen.
Hotel-like services are provided, which include a front desk, a business center and a community area. Visitors may prefer a serviced residence as opposed to a hotel because of their affordability.
 
Apartments
Apartments are the most popular housing option among Koreans. They are preferred by most locals mostly due to their convenience.
Nearly all apartment complexes have facilities nearby such as supermarkets, district offices, post offices, and schools, as well al easy access to public transport.
Basic utilities like water, gas and heating are well established.
The units are somewhat smaller than what one might be accustomed to abroad.
Since the units are tightly packed into each complex, there can be a lack of privacy.
Looking for a parking space after work can also be a challenge, as most complexes do not allocate parking spaces to each unit.
 
Officetels / One-room studios
Officetel (office + hotel) refers to a residence-like office space. Some Koreans use them as residences. 
Most of them are located in easily accessible places.
They are equipped with furniture and convenience facilities. The tenant’s privacy is protected.
A one-room studio is a smaller version of an officetel.
One-room studios offer lower monthly rents than officetels. There are many one-room studios near a university.
 
Detached Houses
Detached house is built for one family on detached housing site.
In detached houses, the privacy of a family is well protected.You can set up a residential plan the way you like.
You can have your own garden.
 
Multiplex Houses
They are  smaller versions of apartments.
A multiplex house is in a building no higher than four-stories.
number of families can reside in separate residental space in a building, and each household can own and sell the suit separately.
 
Hanok
A hanok is traditional Korean house.
Ondol, a system of  heated floors, keeps the house warm during the cold winter months, while the wide front porch keeps it cool during the scorching, hot summer months.
The hanok is a type of residence unique  to Korea that was developed to meet the needs associated with the frigid cold of winter and the scorching heat of summer.
It is interesting to note that many remodeled traditional homes are appearing in the city.
These remodeled homes have various modern amenities to go along with the beauty of their traditional design.
 
 
International Districts
 
Seoul has several international districts. The growth in the number of international residents is expected to increase further with plans for foreign investment zones around the city. The following is a short list of some of the prominent foreign communities in Seoul and Incheon.

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Itaewon
Itaewon was and continues to be the largest expatriate community in the country.
Located near Yongsan Garrison, it has been designated as a special tourist zone.
Itaewon is famous for shopping with its diverse range of shops catering to the needs of the foreign community. The neighborhood also boasts a large number of bars, clubs and restaurants.
The multi-cultural community in Itaewon is well represented by the authentic ethnic restaurants of the area. Some of the American, French, Pakistani, Indian, Egyptian and Middle Eastern eateries are simply unmatched.
Itaewon is the residential area of choice for a large number of foreigners working in Korea.
 
Hannam-dong
Hannam-dong has a significant number of foreign diplomatic missions. As many foreign nationals  live in Hannam-dong as in Itaewon.
The district contains two areas: the UN Village and an ordinary residential district.
You will notice a number of fancy villas or big Western-style houses in this exclusive area.
Hannam-dong is primarily a residential area, as many of the associated cultural and business facilities are located in nearby Itaewon.
 
Ichon-dong
Ichon-dong is widely recognized as a predominantly Japanese residential district.
Ichon-dong was once home to embassy staffers and employees of trading companies in the city.
It’s common to see authentic Japanese restaurants in the area. It’s also quite common to see Japanese business signs in this area.
With Yongsan Park in close proximity, Ichon-dong is a unique and pleasant residential area.
 
Seodaemun-gu
Seodaemun-gu is a popular residential district among foreigners. Numerous universities are located in this district, and hence many foreign students and professors reside in the area.
Ewha Womans University, Hongik University and Yonsei University are located in this district.
Numerous officetels and one room studios in the district are quite popular with students and singles.
The district is surrounded by mountains which allows for regular and convenient weekend hiking forays for local residents.
 
Gangnam /Seocho-gu
These areas are among the representative shopping and business districts of Seoul.
Gangnam has various cultural and business facilities such as the Korea International Trade Association (KITA), COEX, and the Seoul Arts Center. There are trendsetting fashion streets and diverse shopping streets in Gangnam.
Gangnam-gu is popular among Koreans because of the convenient transportation to various areas around the city and the elite schools and academies in the area. On the downside, the popularity of this district has led to an increase in housing costs and hectic traffic.
Seorae Village in Banpo-dong, Seocho-gu is a village for French nationals.
 
Pyeongchang-dong / Seongbuk-dong
Expensive villas and luxury houses line Pyeongchang-dong and Seongbuk-dong.
Located on the hills and surrounded by mountains with a scenic view of the city, the area offers a quiet residential atmosphere.
Art centers and galleries abound.
 
Songdo International City (Incheon)
This city is located within Incheon free economic zone behind the Incheon International airport.
From the 2003, It is being built and developed into reclaimed land on the basis of the development of Shanghai, Singapore and Dubai.
This project is targeting the world`s three major economic area by 2025 and the reclaimed land is about 55km² which corresponds to 12 times the Yeouido in Seoul.
There are many facilities in Songdo international business District (IBD) , 
Convention Center, Chadwick International, Museum, EcoTarium, Cultural Center, Jack Nicklaus Golf Club, Northeast Asia Trade Tower,
The Sharp First World residential and commercial complex, which contains such as the Central park, Haedoji park and many domestic/international companies.
On June 1, 2009, this route of Incheon Metro Line 1 was extended and opend six stations, Campus Town Station, Technopark Station, BIT Zone Station, Incheon National University Station, Central Park Station, International Business District Station, 
 
 
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Purchase Procedures 
 

Various laws, such as The Foreigner’s Land Acquisition Act, The Foreign Exchange Transactions Act, and The Foreign Investment Promotion Act, apply to foreign nationals’ acquisition of real estate in Korea. Regulations relating to land acquisition, use, and development apply equally to locals and foreign nationals.

In the event of foreign nationals’ land acquisition, different laws and procedures apply, depending on the purpose of the acquisition, whether residing in Korea, and whether an individual or a corporation.

RESIDENT FOREIGN NATIONALS
REPORT ON REAL ESTATE ACQUISITION

  • Deadline for submittal of the report: Within 60 days of the signing of the contract (payment of the balance amount)
  • The report should be submitted to: Cadastral Department, Si/Gun/Gu having jurisdiction over the area where the relevant real estate is located.
  • Documents to be submitted: The real estate contract; a copy of the real estate register (in the name of the seller)
  • Period required for handling: Immediately

REGISTRATION OF TITLE TRANSFER

  • Deadline for submittal of the report: Within 60 days of the signing of the contract (payment of the balance amount)
  • The report should be submitted to: The registration office having jurisdiction over the area where the relevant real estate is located
  • Documents to be submitted: 
    1. The foreign national registration certificate (for an individual) or the corporation registration certificate (for a corporation)
    (* As regards a resident foreign national, the registration number and the address for real estate registration refer to the foreign national registration number and the address stated in the foreign national registration certificate or the corporation registration certificate.)
    2. Registration application, registration-related evidential document (contract etc), registration certificate, a copy of the land register
    3. The power of attorney containing the seal impression of the entrustor (if applicable)
  • Time taken for handling: Immediately

NON-RESIDING FOREIGNERS

  • A non-resident foreign national should prepare the following documents prior to entry to Korea.
  • For an individual : a copy of the certificate of citizenship, a copy of the certificate of residence  or the address certificate issued by the government of the home country
  • For a corporation : a copy of the corporation certificate (with the address stated) or the address certificate issued by the government of the home country

 

Report on real estate acquisition
  • Deadline for submittal of the report: Within 60 days of the signing of the contract (payment of the balance amount)
  • The report should be submitted to: Cadastral Department, Si/Gun/Gu having jurisdiction over the area where the relevant real estate is located
  • Documents to be submitted: The real estate contract; a copy of the real estate register (in the name of the seller)
  • Time taken for handling: Immediately
Issuance of registration number for real estate registration
  • Documents to be submitted:
    For an individual: passport or a copy of certification of citizenship, land acquisition report certificate
    For a corporation: Please contact the Department of Cadastral Affairs (02-3703-5060), the Ministry of Government Administration and Home Affairs
    * The power of attorney issued by a public  notary office in the home country (for an foreign national) or by a Consular Office in the relevant country (for a Korean residing in a foreign country) (if applicable).
  • Office for application:
    For an individual – The Seoul Immigration Control Office (in Mok-dong/02-650-6237)
    For a corporation – Cadastral Department, Si/Gun/Gu having jurisdiction over the area where the relevant real estate is located
  • Time taken for handling: Immediately
Registration of title transfer
  • Deadline for submittal of the report: Within 60 days of the signing of the contract (payment of the balance amount)
  • The report should be submitted to: The registration office having jurisdiction over the area where the relevant real estate is located
  • Documents to be submitted: 
    1. The foreign national registration certificate (for an individual) or the corporation registration certificate (for a corporation)
    (* As regards a resident foreign national, the registration number and the address for real estate registration refer to the foreign national registration number and the address stated in the foreign national registration certificate or the corporation registration certificate.)
    2. Registration application, registration-related evidential document (contract etc), registration certificate, a copy of the land register
    3. The power of attorney containing the seal impression of the entrustor (if applicable)
  • Time taken for handling: Immediately
 
Registration
 
Those who need to be registered
An foreign national who intends to stay in Korea for more than 90 days
A person who has given up his/her Korean nationality and acquired another country’s nationality; an foreign national born in Korea who intends to stay in Korea for more than 90 days from the day the status of sojourn is given.
The following foreign nationals are exempt from the obligation of foreign national registration:   
A holder of a diplomatic or official passport or a person carrying out a treaty and his family (A-1, A-2, A-3)
A person engaging in important diplomatic, industrial or defense business and his family; a person concerning whom the Justice Minister recognizes the need for exemption from the obligation of foreign national registration
A Canadian national who intends to stay for less than 6 months and carry out one of the following activities → artist (D-1), religion (D-6), visiting or joining family (F-1),  accompanying spouse (F-3), miscellaneous (G-1)
A registered foreign national under 17  years of age (He/she should be registered as an foreign national within 90 days of turning 17.
 
Registration Period
Foreigners who intend to stay in Korea for more than 90 days.
→ Registration must be done within 90 days of entry.
Foreigners granted the status to stay or to change their status.
→ Registration should be done immediately after receiving permission.
 
Required Documents
Application Form
Passport
Color Photograph (3.5X4.5)
Documents required per the status of sojourn
Fee : 20,000 Won (as of September 2013)
Power of attorney, a copy of the entrustor’s ID, and the entrustee’s employment certificate (if applicable)
 
Report on changes
In the case of a change relating to the following, a registered foreign national should submit a report a change in any details registered at the Immigration Control Office within 14 days. 
Personal name, gender, DOB or nationality
Number, date of issuance, validity of passport
Artist (D-1), student (D-2), general trainee (D-4) whose institution or organization has been changed (including a change in the name)
Journalism (D-5), religion (D-6), business supervisor (D-7), corporate investor (D-8), international trade (D-9) whose institution or organization has been changed (including a change in the name)
 
Introduction to relevant institution
The Immigration Control Office
Tel :82-2-2650-6212~5
Fax :82-2-2650-6293

How to go :By subway: Omokgyo Station (Line 5; Exit 7) / By bus: 5012, 6619, 6624, 6640, 6620, 517 

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