Foreign tourists in Korea can get a refund on value-added tax (VAT) when they shop at stores with a "Tax Free" sign. For expensive electronics such as smartphones, laptops, and cameras, the amount you get back and when you get it depend on the refund method and the customs steps you follow when you leave. Tax Free is a system that lets foreign tourists claim back the tax on goods they buy during a trip. A Global Tax Free notice posted at a store entrance in Seoul's Myeongdong shopping district. Photo: Tenant News Refunds are about 4–8% of the purchase price The Tax Free refund applies to foreign tourists who spend at least ₩15,000 per receipt. The amount you actually get back is about 4–8% of the purchase price. The taxes refunded are VAT and the individual consumption tax. The VAT included in the price is about 9%, and you receive that amount minus the refund agency's fee. You qualify if you are a non-resident foreigner staying in Korea for less th...
When a foreigner looks for a home in Korea, the contract type and two reporting deadlines matter more than the housing type. Report your move within 15 days of moving in (a change-of-residence report). If your lease is above a set amount, report the contract within 30 days of signing (a lease report). In Korea, even monthly rent comes with a deposit. There is also a separate system called jeonse (전세), which uses a very large deposit. Which one you choose can change the lump sum you need at move-in by tens of times. A residential alley lined with low-rise villa and one-room apartment buildings in Seoul. Photo: Yonhap News Six Types of Housing in Korea Foreigners in Korea usually choose from one-rooms, officetels, goshiwons, hasukjibs, serviced residences, and apartments. Size, rent, and maintenance fees differ by type. One-room (원룸) : A small home made up of a single room. It is also called a studio. Officetel (오피스텔) : Usually larger than a one-room a...