Choose the unit and the buyer name
Select the unit and decide whether you will buy personally or through an entity. We confirm current availability and prepare your information pack.
INTERNATIONAL BUYER GUIDE
Buying property
in Korea
Foreign buyers can own property in Korea. Here is how the process works, in four steps, with First Corporation coordinating each one.
This page is a general orientation. On request we send a detailed information pack prepared for your situation and the unit you are considering.
Review the contract
You receive the Korean contract with a controlled English translation and every attachment, and we walk through the terms with you and your advisers.
Pay in stages through your bank
Payments follow the schedule in the contract. We coordinate the transfer route with your bank in advance so each payment lands on time.
Register title and move in
After completion, title is registered in your name and the unit is handed over with the agreed documents, inspection and management set-up.
LEGAL CLASSIFICATION
Korean apartment
Closest U.S. shorthand: a condominium unit when individually owned. “Apartment” identifies the housing type in Korea; it does not mean the occupant is necessarily renting.
LEGAL CLASSIFICATION
Officetel
An individually owned unit that is commonly lived in as a home, with no exact U.S. equivalent. Its registration and use rules differ from an apartment, and we explain the practical differences for your chosen unit.
KOREA–U.S. TERMINOLOGY
Read the contract before translating the product.
Marketing words can hide a different ownership structure. These translations are practical buyer explanations; the Korean contract and building register remain the reference documents.
아파트 · Korean apartment
Closest U.S. shorthand: condominium unitA multi-family housing category with five or more residential floors—not a synonym for a rental. If bought by unit, the buyer acquires sectional title plus associated rights in common parts.
임대 · Rental / lease
Occupancy without ownershipThe tenant receives possession under contract but no registered title or equity unless a separate agreement expressly creates it.
10년 민간임대
Long-term rental, not automatically rent-to-ownA tenant lives in condo-style housing for the rental period. Any later purchase right, eligibility and price formula are set out in the governing documents.
분양전환 · Sale conversion
A later sale after the rental phaseThis does not itself promise automatic ownership. The form of the purchase opportunity and how market value will be determined are confirmed in the final documents.
분양 · Developer sale / presale
A purchase rather than a leaseThe buyer contracts for a unit, often pays in stages, and receives registered title after completion and closing.
오피스텔 · Officetel
No exact U.S. equivalentAn individually owned business-facility / quasi-housing unit that is commonly lived in as a home. Its registration and use rules differ from an apartment; we explain the practical differences for your unit.
전용면적 · Exclusive area
Private unit-area basisCompare it separately from supplied or marketed area, which may include an allocation of common space.
평 · Pyeong
1 pyeong ≈ 3.3058 m²Always check whether a quoted pyeong figure refers to exclusive area or a broader marketed-area basis.
BEYOND THE PRICE
We prepare a full cost summary for you.
- Purchase price and what it includes
- Options, parking and storage
- Acquisition and registration costs
- Annual management and service charges
- Payment schedule and timing
- Each item itemised in your information pack
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