<Anchor>
There are not a few foreigners who buy apartments or buildings in Korea.
There are even stories of'reverse discrimination' saying that various real estate regulations are strict for Koreans and not for foreigners, but in fact, reporter Park Hyun-seok pointed out at the corner.
<Reporter>
How much has foreign real estate acquisitions increased in recent years?
Overall trading volume peaked in 2018 and seemed to decline, but rebounded last year.
Compared to five years ago, it increased by 25%, and during the same period, the number of Chinese transactions increased by nearly 80%.
However, it is argued that this is because various regulations that have been strengthened by the current government are an exception to foreigners.
Is it true?
Let’s weigh them one by one.
First of all, if you borrow from a commercial bank in Korea, there is no difference between being a foreigner.
Various regulations such as LTV, DTI, DSR are equally applied.
The same applies when you buy, hold, and sell taxes.
Foreign individuals as well as foreign corporations are no exception and are subject to more stringent regulations than individuals.
However, when foreigners receive loans from overseas and remittances like their own banks, not domestic banks, we can't of course be regulated because we have no way of knowing and no way to stop them.
This is because it is a cash purchase in Korea.
In addition, even if you decide to speculate and buy multiple houses in the name of your family, it is difficult to determine whether these foreigners are family members or not, so it is virtually impossible to tax multi-homed people.
[Gimwanil Accountant / Tax Corporate Ghana: (foreigners) because they are not managed by the resident registration if the (family members) to report each be a separate three dajutaekja double taxation problem seems to be a possibility does not occur]
So Gyeonggi It changed their real estate transactions to a permit system for six months from October last year, saying that it would prevent real estate speculation by foreigners and domestic and foreign corporations.
A bill that imposes additional tax on acquisition tax on foreigners and foreign corporations is also being discussed at the National Assembly.
There are voices who oppose “how to prevent foreign investment,” but in Singapore, Hong Kong, Australia, and Canada, there are separate regulations such as paying more taxes when foreigners acquire real estate.
Experts say that it is time for a more detailed investigation into the real estate speculation of foreigners.
(Video coverage: Chansu Lee, Video editor: Soyoung Lee, VJ: Youngsam Jung, Choa Kim, Author: Hyojin Kim, Jeongyeon Kim, Bowon Yang, CG: Sungyong Hong, Jaeyoung Choi, Yejeong Lee, Jaeeun Sung, Siwon Jung)