Important Update for Foreign Real Estate Buyers in Korea

In response to the recent surge in property purchases by foreign nationals, the Korean government has introduced new regulatory measures.

Starting August 26, 2025, the entire Seoul Metropolitan City, seven districts in Incheon, and twenty-three cities and counties in Gyeonggi Province have been designated as Land Transaction Approval Zones for Foreigners.

Under this designation, foreign buyers seeking to purchase certain residential properties within these areas must obtain prior approval from the relevant local municipal office before signing any purchase contract. Any transaction completed without prior approval will be deemed invalid and have no legal effect.

Key requirements include:

• The buyer must move into the property within four months after receiving approval

• The buyer must reside in the property for at least two years following the acquisition.

Foreign investors and prospective homeowners should carefully review these requirements and plan their transactions accordingly.

<Designated Land Transaction Approval Zones for Foreigners>

	Cities / Counties / Districts
Seoul	All districts of Seoul
Incheon	Jung-gu, Michuhol-gu, Yeonsu-gu, Namdong-gu, Bupyeong-gu, Gyeyang-gu, Seo-gu
Gyeonggi Province	Suwon, Seongnam, Goyang, Yongin, Ansan, Anyang, Bucheon, Gwangmyeong, Pyeongtaek, Gwacheon, Osan, Siheung, Gunpo, Uiwang, Hanam, Gimpo, Hwaseong, Gwangju, Namyangju, Guri, Anseong, Pocheon, Paju

If you have any questions or need assistance with the prior approval process, please feel free to contact us at oiaa@openvisakorea.com.