Saving money in Korea should be the goal of every foreigner. But many expats living in Korea find the Korean pension system difficult to understand. In this article, I want to explain the Korean National Pension Service, why it is required, and its benefits.
Prices for apartment houses in Korea have risen by nearly 20% this year. As a result, the tax burden for home ownership in Korea is expected to surge, with taxes for multi-home owners in the Seoul metropolitan area increasing by more than double.
Why it matters: The Korea housing market is a fire growing out of control. Every year, tens of thousands of apartments are built to meet insatiable speculative demand, yet they remain unoccupied due to high prices, multi-home owners, and Korea's dwindling population
Many foreigners in Korea struggle to become fully aware of available financial opportunities.
Why it matters: For many foreigners, their job status is legally connected to their visa sponsorship. Whatever your job is, make sure that your money earned per hour is sufficient to meet your financial goals in Korea.
All taxpayers in Korea, including expats living in Korea, must pay into Korea's national pension service. Here's how to check your Korean national pension easily online.