Korea Money Note explains the money, tax, and paperwork rules that foreign residents in Korea run into, in plain English and based on official Korean sources.
What we cover
- Taxes: year-end tax settlement, income tax filing in May, the flat-rate option for foreign workers, and refunds
- National Pension: contributions, lump-sum refunds when you leave Korea, and social security agreements
- Health insurance: National Health Insurance enrollment, premiums, dependents, and coverage
- Banking and money transfers: opening an account, overseas remittance limits, and required documents
- Housing: jeonse and wolse leases and how to protect your deposit
- Starting a business: business registration and the basic tax obligations that come with it
- Paperwork: alien registration, residence reports, and other everyday administrative steps
How we write
- We check every rule against official sources such as the National Tax Service, National Pension Service, National Health Insurance Service, Ministry of Justice (HiKorea), Korean law databases, and government press releases. Many of these sources are only available in Korean, so we translate and explain them.
- Each article lists the official sources it relies on and the date we last checked them.
- We use the same English terms the agencies use, so you can match what you read here with official forms and websites.
- Proposals that are still under discussion or not yet in force are clearly marked as such.
- When a rule changes or we find a mistake, we update the article and note the date.
Who runs this site
The site is run by a Korean writer who worked as a financial advisor and branch manager at a Korean financial company. That background is used to turn Korean-language rules and forms into clear, practical English.
Please note
The information on this site is general guidance and is not tax, legal, immigration, or financial advice. Rules can change and individual situations differ, so please confirm with the relevant agency, your bank, or a licensed professional before you file, sign, or send money. For visa and immigration questions, check HiKorea or call the Korea Immigration Service at 1345.
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Contact
For corrections, topic suggestions, or partnership inquiries, email contact@koreamoneynote.com.