- Investment Guide
- Establishment of Corporation
- Real Estate Acquisition
- Taxation and Accounting
- Factory Establishment and Location
- Legal interpretations
Foreigners who cannot speak Korean can call 112 or 119 or use the bbb free interpretation service around the clock. – When a foreigner calls the 112 emergency number, a three-way call is set up with the caller, 112 personnel and interpreter. – In the case of fire or an emergency medical situation, you can call the Safety Report Center at 119. You can report the emergency through the same interpretation services that are provided at 112. – To use bbb Korea's service, call their representative number at 1588-5644 and select the extension number of the language that you speak, and you will be connected to the volunteer interpreter‘s cell phone (services in 20 languages). ※How to use the bbb mobile application – Connect to the smartp application of bbb, and select the extension number of the language that needs interpretation. Without going through the automatic response system, you are immediately and conveniently connected to the mobile phone of the volunteer that provides interpretation for that language. ※ Emergency Ready application: Disaster and emergency alert for foreigners – The Emergency Ready application was developed by the Ministry of Interior and Safety. it can be used to make a 119 report or receive various push notification services in English and Chinese, including information on locations of emergency medical facilities, police stations, fire stations, embassies, and emergency situations regarding COVID-19.
Korea has the ’volume-based waste fee’ system, under which a fee is imposed based on the amount of waste. Waste is sorted out and recyclables are separated and then disposed of. Waste should be disposed of in a designated area in a designated bag according to the type of waste. 1. General waste (for disposal) – Unrecyclable waste should be disposed of in a designated bag. – Volume-based waste bags can be purchased at supermarkets or discount marts nearby. The color and size of general waste bags and food waste bags differ by disstrict, so make sure to purchase waste bags that match your district. 2. Recyclable garbage (for recycling) – Paper, bottles, scrap metal, cans, vinyl, plastic, etc. can be recycled, and must be disposed of in the designated collection area for recyclables. Some llarge apartment complexes have a day of the week designated for collection of recyclables. 3. Food waste – When disposing of food waste, foreign substances and liquid must be removed. Then the waste must be put in the food waste collection bin or discharged in a bag exclusively for food waste. – Each local government has a volume-based food waste collection system based on RFID. ※ General waste that can be mistaken as food waste – The following items must be placed in a general waste bag: 4. Large-sized waste (furniture, home appliances, etc.) – Large-sized waste such as old furniture or electronic appliances that can no longer be used cannot be put in a volume-based bag. In such case, they are disposed of after reporting to the governing district. First, a sticker must be purchased at the district (dong) community center, apartment community center, or district (gu/ gun) webpage. After attaching this sticker, the item can be disposed of on the designated date for collection.
When a foreigner who has registered as an alien changes his/her place of stay, he/she must report change of place of stay to the head of the district (si/gun/gu or eup/myeon/dong) or the head of the immigration office governing the place of stay within 14 days from the date of move-in. ◎ Report period: Within 14 days from moving to the new place of stay ※However, beginning from December 10, 2020, a report must be made within 15 days from the date of move-in (revised Immigration Act). ◎ Documents to be submitted: – When applying in person: Passport or alien registration certificate, integrated application form (Attached form 34 of the Enforcement Rules of the Immigration Act), document proving place of stay – If an agent is applying: Power of attorney, agent's ID, family relations registration document or other document confirming family relations (for foreigners under the age of 17, his/her parent can report on his/her behalf) ※ When a foreigner that has made an alien registration does not report within 14 days from changing his/her place of stay, he/she shall be imposed a penalty of up to KRW 1 million for violating Article 36 of the Immigration Act.
The webpage of the Korea Association of Realtors shows a list of the global realtors in Korean, English, Japanese and Chinese. In addition, the Seoul city government webpage, and other webpages of each local government provide information on licensed real estate brokerages that use foreign languages. ※ In addition, there are various applications showing real estate offerings available on the market. – Zigbang: www.zigbang.com – Dabang: www.dabangapp.com – Hanbang: www.karhangbang.com – Naver Real Estate: land.naver.com ※ Real estate brokerage fee – The real estate brokerage fee is set according to the transaction amount. The rates also differ according to the regulations of the city or province. The webpage of the Korea Association of Realtors (www.kar.or.kr) has information on the real estate brokerage fee of each city or province.
※1. The real estate brokerage fee ceiling is the amount calculated by multiplying the transaction amount with the maximum rate. When that amount exceeds the ceiling, the ceiling is used as the brokerage fee. 2. In the case of brokerage of sale or exchange with transaction amount of at least KRW 900 mln, or lease of housing worth KRW 600 mln or more, the following provisions apply: A. Brokerage fee shall be within the following range. It shall be determined by the brokerage contract: (1) Sale or exchange of at least KRW 900 mln: 9/1000 of the transaction amount or less (2) Lease of at least KRW 600 mln: 8/1000 of the transaction amount or less
The major ones are Jeonse, monthly rent, and semi-Jeonse. 1. Jeonse – This is a lease method that is unique to Korea. A lump-sum amount is given to the owner of the house as a key money deposit. The tenant resides in the house for a certain period. After the contract period is over, he/she receives the full amount of the key money deposit from the owner. The Jeonse contract is usually for a term of two years (one year in the case of officetels), and it is prescribed in the law that the house owner cannot terminate the contract within two years unless the tenant so agrees. Thus, pursuant to the Housing Lease Protection Act, even if it is a one year contract, if the tenant wishes, he/she can reside in the house for two years. 2. Monthly rent – This is a lease contract in which the lessee pays a monthly rent to the lessor. In the case of a ‘rent with deposit‘, a certain amount is paid as a key money deposit along with a fixed monthly rent, while ‘rent with no deposit‘ refers to paying only the monthly rent. In general, in the case of monthly rent, a deposit is paid together with a monthly rent, and maintenance costs are paid in addition. 3. Semi-Jeonse – This is a mixed type of lease contract. In the above two cases, the full amount of the Jeonse deposit is given to the house owner in order to lease the house. Or, a monthly contract is established based on which a monthly rent is paid. In the case of semi-Jeonse, a certain deposit amount is paid, and a monthly rent is paid, and thus this is the same idea as the ’rent with deposit’. But at the point of renewing the Jeonse contract, if the landlord demands an increase in the Jeonse deposit, the additional Jeonse deposit can be paid by making a tantamount raise in the monthly rent.
Korean language institutes of major universities nationwide, as well as foreigner support centers and private educational institutes provide on/offline classes.
1. Offline classes – Seoul Global Center: http://global.seoul.go.kr – Incheon Free Economic Zone Global Center: www.ifez.go.kr – Busan Foundation for International Cooperation: www.bfic.kr 2. Online classes – Barunsori, National Institute of the Korean Language: www.korean.go.kr/hangeul/cpron/main.htm – KBS Let’s Learn Korean: http://rki.kbs.co.kr/learn_korean/lessons/e_index.htm – Talk to Me in Korean: https://talktomeinkorean.com 1. Offline classes – Institute of International Education, Kyung Hee University: www.iie.ac.kr – Korean Language Institute, Yonsei University: www.yskli.com – Korean Language Classes, Sogang University: http://korean.sogang.ac.kr – Korean Language Center, Korea University: http://klc.korea.ac.kr – Language Education Institute, Busan National University: https://lei.pusan.ac.kr – Korean Language Institute, Hansei University: http://www.hansei.ac.kr/kor/471/subview.do – Easy Korean Academy: www.edukorean.com 2. On/offline – Nuri, King Sejong Institute: www.sejonghakdang.org
Although foreign schools, foreign educational institutions, and Korea International School (Jeju Campus) have similar names, the classification, legal basis and entry qualifications are all different.
※ The Ministry of Education's general information site (www.isi. go.kr) has various information regarding foreign educational institutions, from foreign kindergartens to foreign schools, international schools, etc.
Foreigners residing in Korea can apply for credit card issuance, and the issuance criteria differs depending on the card company. ◎ Eligibility – Foreigners with an alien registration card employed in Korea ◎ Required documents – Document certifying income (for at least the past 3 months), labor contract, alien registration card ◎ Procedure for issuance – The credit card evaluation team conducts the document evaluation. When the applicant does not pass the evaluation, a credit card can be issued with a deposit as collateral. In the case of corporations, it is possible to apply for a credit card exclusively for foreign-invested companies (such cards are issued by Shinhan Bank, Hana Bank).
In general, childcare subsidies (for use of daycare centers) are provided by the local governments. Only children who are Korean nationals with a resident registration number are eligible for the subsidies. However, in some local government districts, children of foreigners can receive childcare subsidies according to the local ordinance. Childcare subsidies for foreigners in the city of Ansan (as of July 21, 2020) ◎ Eligibility – Qualification: Children of foreigners aged 0 to 5 years using the local daycare center, whose registered place of stay is Ansan City - Assistance period: Subsidy provided during period of stay (from the month following the first three-month stay in Ansan City) ◎ Details – Subsidy amount: KRW 220,000 per month (per person) – Method of payment: When payment is settled with the Children's Happiness Card, the subsidized amount is deposited into the daycare center’s account – How to apply: The child’s guardian submits the application form and required documents to the daycare center. ◎ Inquiries: Ansan City's Childcare Policy Division (031-481-2304) Childcare subsidies for pre-school children registered as foreigners in the city of Bucheon (as of July 21, 2020) ◎ Eligibility – Qualification for receiving assistance: Children of foreigners aged 3 to 5 years using the local daycare center, whose registered place of stay is Bucheon City (the guardian must also reside in Bucheon City) – Assistance period: Subsidy provided during period of stay (from the month following the first three-month stay in Bucheon City) ◎ Details – Subsidy amount: KRW 240,000 per month (per person) – Method of payment: When payment is settled with the Children's Happiness Card, the subsidized amount is deposited into the daycare center’s account – How to apply: The guardian submits the application form and required documents to the daycare center. ◎ Inquiries: Bucheon City's Childcare Policy Division (032-625-4810)
What are the documents that need to be submitted when applying for national health insurance subscription?Alien registration card, documents that can replace family relations certificate when registering family members, and power of attorney when an agent is making the application are needed. ◎ Health insurance application: Submit to a nearby National Health Insurance office or Help Center for Foreigners. In the case of applying as an employee subscriber, the National Health Insurance office governing the location of the workplace provides assistance. ◎ Application procedure – When the foreigner is making the application in person: Submit alien registration card to have the application processed on the spot. – When registering family members: Bring documents that can confirm your family relations (Documents issued from home country require the Republic of Korea's Ministry of Foreign Affairs’ verification or apostille received within nine months from the date of issuance. Korean translation must be included. Documents issued domestically have an effective period of three months.), as well as alien registration card of each family member to be registered. – When delegating application: Power of attorney, alien registration card of person delegating and person delegated, documents regarding cause of delegation (e.g., document proving that person cannot apply in person due to hospitalization) -> Delegation only possible to family members (bring documents proving family relations) ◎ For questions regarding national health insurance subscription – National Health Insurance webpage (www.nhis.or.kr) – National Health Insurance Service customer center: 1577-1000 – Foreign language operator: 033-811-2000