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Laws › Act on Report on Real Estate Transactions › CHAPTER III SPECIAL CASES REGARDING ACQUISITION OF REAL ESTATE BY FOREIGNERS

Act on Report on Real Estate Transactions — Article 9 (Permission for Land Transaction Conducted by Foreigner, etc.)

부동산 거래신고 등에 관한 법률 제9조

(1) Notwithstanding Articles 3 and 8, where any land that a foreigner, etc. intends to acquire is located in any of the following zones, areas, etc., he or she shall obtain permission from the report-receiving authority for the acquisition of the land before entering into a contract for the land acquisition (hereinafter referred to as "land acquisition contract"), as prescribed by Presidential Decree; provided, the same shall not apply where a permission for the land transaction contract is obtained in accordance with Article 11: <Amended on Nov. 26, 2019; Mar. 21, 2023; Aug. 8, 2023; Feb. 6, 2024>

1. Military bases and installation protection zones defined in subparagraph 6 of Article 2 of the Protection of Military Bases and Installations Act, and such other areas as may be necessary to limit land especially acquisition by a foreigner, etc. for the purposes of national defense as prescribed by Presidential Decree;

2. Designated cultural heritage under Article 2 (3) of the Act on the Conservation and Utilization of Modern and Contemporary Cultural Heritage, and protective facilities or protection zones therefor;2-2. Natural monuments, etc. designated in accordance with the Act on Conservation and Utilization of Natural Heritage and protective facilities or protection zones therefor;

3. Ecological and scenery conservation areas defined in subparagraph 12 of Article 2 of the Natural Environment Conservation Act;

4. Special districts for protection of wildlife under Article 27 of the Wildlife Protection and Management Act.

(2) Following consultation with the heads of related administrative agencies, a report-receiving authority shall grant permission under paragraph (1), if the acquisition of land by a foreigner, etc. in a zone, area, etc. that falls under any subparagraph of paragraph (1) does not disrupt the attainment of the purpose of designation of the relevant zone, area, etc.

(3) A land acquisition contract concluded in violation of paragraph (1) shall be null and void.

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