A Korean national with permanent residence of a foreign country is not a foreigner pursuant to the Foreigner’s Land Acquisition Act. Therefore, the process according to the land acquisition notification is not necessary, but the inflow and outflow of capital need to be notified pursuant to the Foreign Exchange Transactions Act, because according to that Act, the overseas Korean national is a non-resident.Required documents for transferring ownership

1. Social registration card (if still existent);
2. If the social registration card is cancelled, then the following documents are needed:

– Proof of address or proof of residence (issued by an overseas public institution, or
notarized by a foreign notary office);
– Real estate registration number issued by the registry division of the Seoul District
Court (Tel. 82-2-530-1892).

When applying for the registration number, the following documents need to be submitted:

– Certificate of registration of overseas Korean (issued by a Korean embassy or
consulate overseas);
– Family register;
– Power of attorney (if proxy files application);
– Application through mailing service is available.