Can Foreigners Buy Real Property in Korea? Korean Real Estate Law for Non-Korean Residents and Non-Residents

Unlike some Asian countries that do not allow or strictly limit foreign ownership of real properties, South Korea has a buoyant market that permits foreigners to purchase real estate and even land in Korea. The major restrictions on ownership of real estate for non-Koreans were lifted during the 1997 Asian Financial Crisis based on the advice of the IMF. The lifting of these restrictions, led, in part, to a commercial and residential real estate boom. The major benefit to Korea

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