Korea Acquisition Tax Guide: Rates by Number of Homes, First-time Buyer Exemptions & How to Calculate

Calculate Before You Sign

Imagine you’re a first-time buyer signing a contract on a ₩500M apartment. You think: “I’m a first-home buyer, so the rate is 1% — I need ₩5M.” But when the bill arrives, it’s actually more. The local education tax adds 0.1%, and if the unit is over 85㎡, the Special Rural Tax adds another 0.2% — bringing the total to 1.3%, or ₩6.5M. Factor in registration fees and total closing costs can approach ₩10M.

Now imagine buying that same ₩500M property as your second home in a designated regulated zone. The rate jumps to 8%. Including the surcharges, you’re looking at over ₩42M — a completely different financial picture.

Acquisition tax varies by up to 13× depending on how many homes you own and where the property is located.

Acquisition tax (취득세) is a local tax paid when acquiring real estate (land, buildings, housing), vehicles, vessels, or aircraft in South Korea. It must be filed and paid within 60 days of acquisition. Missing the deadline triggers a 20% penalty surcharge.

Note for international readers: The tax rates, exemptions, and structures described here apply specifically to South Korea. Your country will have its own equivalent transfer or stamp duty taxes — the concepts are similar but the numbers will differ.

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1. Key Figures (2024 Basis)

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2. Acquisition Tax Calculator

취득세 계산기

주택토지상가/오피스텔

취득 후 주택 수

1주택 (무주택→1주택)2주택 (1주택→2주택)3주택 이상 또는 법인

취득가액 (원)

계산하기

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3. Full Residential Acquisition Tax Rate Table

For Paid (Market-rate) Purchases

Homes Owned After Purchase	Regulated Zone	Non-regulated Zone	Notes
1st Home	1–3% (by price bracket)	1–3%	≤₩600M: 1%, ₩600M–₩900M: 2%, >₩900M: 3%
2nd Home	8%	1–3%	Heavy surcharge in regulated zone
3rd Home	12%	8%	Surcharge applies
4th Home+	12%	12%	Maximum surcharge
Corporation	12%	12%	Regardless of number of homes

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4. Exemptions and Special Discounts

First-time Home Buyer Exemption (Expanded in 2023)

Item	Details
Eligible Properties	Metro area: ≤₩400M / Non-metro: ≤₩300M (2024 basis)
Income Requirement	None — income cap removed since 2023
Eligibility	First home ever purchased (buyer + spouse combined)
Maximum Exemption	Up to ₩2,000,000
Occupancy Requirement	Must move in within 3 months; must reside for 3+ years

Newlywed Discount

• First home purchase within 5 years of marriage registration
• Can be combined with first-time buyer exemption

Multi-child Discount

• Three or more minor children in household
• Purchase price ≤₩900M → 50% reduction (subject to a cap)

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5. Calculation Examples

Example 1: First-time Buyer, Non-regulated Zone, ₩500M Home

• Acquisition Tax: ₩500,000,000 × 1% = ₩5,000,000
• Local Education Tax: ₩500,000,000 × 0.1% = ₩500,000
• Special Rural Tax (if over 85㎡): ₩500,000,000 × 0.2% = ₩1,000,000
• Total: ₩6,500,000

Example 2: Existing 1-home Owner, Regulated Zone, ₩700M Home (→ 2nd Home)

• Acquisition Tax: ₩700,000,000 × 8% = ₩56,000,000
• Local Education Tax: ₩700,000,000 × 0.4% = ₩2,800,000
• Special Rural Tax: ₩700,000,000 × 1% = ₩7,000,000
• Total: ₩65,800,000

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6. How Homes Are Counted — Common Pitfalls

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7. How to Get the Most from This Calculator

Run the numbers before signing any contract. You need three pieces of information: the purchase price, your expected home count after the transaction, and whether the property is in a designated regulated zone (check on the Ministry of Land, Infrastructure and Transport’s real-transaction disclosure system at rt.molit.go.kr).

If this is your first-ever home purchase, subtract up to ₩2M from the calculator result to estimate your actual bill. Check whether newlywed or multi-child discounts apply — they can save hundreds of thousands of won. File your acquisition tax on Wetax (wetax.go.kr) before the final payment date; knowing the number in advance lets you plan your settlement-day cash flow precisely.

8. Acquisition Tax Calculator

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References

• Local Tax Act Articles 7–15: Governing statutes for acquisition tax
• National Law Information Center: https://www.law.go.kr
• Wetax (Acquisition Tax Filing): https://www.wetax.go.kr
• Ministry of Land Real Transaction System: https://rtms.molit.go.kr