Of the taxes on buying or selling a home in Korea, the smallest — and so the easiest to forget — is stamp duty, a tax on documents such as contracts. A property sale contract carries 20,000 to 350,000 won depending on the amount, and homes of 100 million won or less are exempt. Bank loan agreements use the same scale, but 50 million won or less is exempt. We read articles 1, 3, 6 and 8 of the Stamp Tax Act as written.
1. Deeds transferring ownership of property: 20,000 to 350,000 won. Over 10 million to 30 million won 20,000; to 50 million 40,000; to 100 million 70,000; to 1 billion 150,000; over 1 billion 350,000 won (art. 3(1) item 1).
2. Homes up to 100 million won and loans up to 50 million won are exempt. Deeds transferring a home of 100 million won or less, and loan agreements of 50 million won or less, pay nothing (art. 6 items 5 and 8).
3. Tax is due “per copy.” Where two people draw up a document together, they are jointly liable (art. 1(2), art. 3(2)).
Who pays — art. 1
Paragraph 1 A person who draws up in Korea a contract on the creation, transfer or change of rights in property, or another document proving it, shall pay stamp duty on that document …
Paragraph 2 Where two or more persons draw up a document jointly, they shall be jointly liable for the stamp duty …
Documents are judged by substance, not title (art. 3(4)), and electronic documents are included (para. 3).
How much — art. 3(1)
| Stated amount | Stamp duty | If it is a home |
|---|---|---|
| 10 million won or less | Not in the table (no band) | Exempt |
| Over 10m to 30m won | 20,000 won | Exempt (100m or less) |
| Over 30m to 50m won | 40,000 won | Exempt (100m or less) |
| Over 50m to 100m won | 70,000 won | Exempt (100m or less) |
| Over 100m to 1bn won | 150,000 won | 150,000 won |
| Over 1bn won | 350,000 won | 350,000 won |
Combines item 1 of the article 3(1) table (deeds transferring ownership of real estate, ships and aircraft) with article 6 item 5 (homes of 100 million won or less exempt). The “10 million won or less” row is ours, marking that the table has no band there.
Other documents on the same scale
- Loan agreements with financial or insurance institutions — item 1 amounts apply (art. 3(1) item 2), but 50 million won or less is exempt (art. 6 item 8). A 300 million won loan agreement is 150,000 won (our example).
- Statutory contracting or mandate deeds set by Decree — item 1 amounts (item 3).
- Transfers of mining rights, intangible property rights, fishing rights and similar — item 1 amounts (item 5).
- Golf, sports club and condominium memberships — item 1 amounts (item 6).
The same table also covers transfers of registrable movables (3,000 won), credit card member and merchant applications (300 won) and gift vouchers by face value (50 to 800 won), among others.
When buying a home — our example
| Example | Document | Stamp duty |
|---|---|---|
| Villa sold for 90m won | Home sale contract | 0 won (home of 100m or less) |
| Shop sold for 90m won | Shop sale contract | 70,000 won |
| Flat sold for 600m won | Home sale contract | 150,000 won |
| 400m won loan on the same flat | Loan agreement | 150,000 won |
Our examples, per copy. If buyer and seller each keep an original, the number of copies rises accordingly (art. 3(2), “per copy”). The Act sets joint liability but not who bears how much, so we do not settle that here.
How to pay — art. 8
Duty is paid by attaching an electronic revenue stamp for paper documents to the document. Alternatively, the amount can be paid in the way the Decree sets and the payment marked on the document (art. 8(1) proviso).
Checklist
- ☐ A home of 100 million won or less? Exempt
- ☐ A loan agreement of 50 million won or less? Exempt
- ☐ How many original copies? Duty is “per copy”
- ☐ Buy and attach the electronic revenue stamp, or mark the payment
Questions that remain
Is there stamp duty on a jeonse lease?
Leases do not appear in the article 3(1) table. As a lease does not transfer ownership, it reads as outside item 1 (our reading).
What about selling pre-sale rights?
Article 3(4) judges documents by substance, not name. Check your case with the National Tax Service.
Sources
- Stamp Tax Act [in force 2 Jan 2026] [Act No. 21065] — original text (checked 1 October 2026). Article 1 (drafter, joint liability), article 3 (taxable documents table, per copy, electronic documents, substance), article 6 (exemptions: homes 100 million won, loans 50 million won) and article 8 (electronic revenue stamps).
- Our own working. The sale and loan examples are ours.
Where to check further
- All the costs of buying — buying an apartment step by step.
- Refinancing — mortgage refinancing.
Written on 1 October 2026. Articles are from the National Law Information Center; the tables and examples are ours.
