South Korea Commercial Property: Offices, Retail and Buildings

Across all South Korean listings, the median asking price is €2,861,345, and the middle half sits between €1,197,772 and €6,181,835. The median asking price per m² is €5,710. These are prices from listings on RealEstateAbroad, not transaction records, and they are pulled up by the commercial mix. A small ground-floor shop and a multi-storey building in a prime district are very different assets, so always work from the specific unit's rent roll.

• Foreigner reporting. Foreign buyers must report an acquisition to the local authority within 60 days of signing the contract (and obtain a permit first in restricted zones). A local lawyer or judicial scrivener (beopmusa) normally handles it.
• Key money and deposits. Korean leases often include large refundable deposits (jeonse and wolse structures). Check what the seller holds and whether it transfers to you.
• Acquisition tax. Commercial buildings carry a higher acquisition tax than ordinary homes, commonly around 4-5% all-in, plus annual property tax. Verify with a Korean tax adviser.
• Building ledger. Review the building register for unauthorised extensions, which can block financing or trigger fines.