South Korea (KR)
South Korea is a high-income East Asian democracy with world-class broadband, dense public transport, export-led technology giants, sophisticated healthcare, a powerful popular culture sector and one of Asia's most convenient urban lifestyles for expats who can adapt to Korean-language administration.
Leaving South Korea
How to properly exit — protecting your finances, rights and records.
📅 General Timeline
3 months before departure: serve written notice to landlord per your lease terms. Notify international school of withdrawal (one full term). Contact NPS to confirm your eligibility for a lump-sum refund or totalisation and begin the application process. Confirm jeonse deposit return timeline with landlord in writing. 2 months before: notify employer formally of departure date. Confirm NHIS deregistration will be handled through payroll. Settle any outstanding NHIS premiums. Cancel private health insurance with 30-day notice. Arrange international health cover. 1 month before: cancel KEPCO electricity, gas, and internet/broadband contracts (noting early termination fees). Notify bank of departure and update contact details to avoid being locked out of online banking when SIM is cancelled. Cancel mobile postpaid plan or port number. 2 weeks before: photograph apartment thoroughly with dated video. Settle all outstanding management fees (관리비) and utility balances. Agree deposit/jeonse return date and method with landlord in writing. Return ARC to immigration office or plan to return it at the airport. Final week: conduct joint move-out inspection with landlord. Return all keys and access cards. Transfer remaining KRW balances via bank SWIFT or Wise. Keep a Korean bank account open for 2–3 months for NPS refund and jeonse/deposit return. After departure: NPS lump-sum refund can be applied for from abroad at nps.or.kr. File Korean income tax (종합소득세) by May 31 of the following year if applicable via hometax.go.kr.
Deregistration
Required departure steps for foreign residents leaving South Korea: (1) ARC (Alien Registration Card) return: foreign residents with an ARC must return it to the local Immigration Office (출입국·외국인청, HiKorea.go.kr) upon departing permanently. You can also return it at the airport immigration counter on departure. Failure to return the ARC can create complications for future Korean visa applications. (2) Work permit (E-series visa) cancellation: your employer must notify the Ministry of Employment and Labor (MOEL) and the immigration office when your employment ends. Confirm this has been done. (3) Foreign Resident Registration (외국인등록): automatically cancelled when your ARC is returned. (4) Workplace address and HR: obtain your final payslip, National Pension contribution statement, and a certificate of employment (재직증명서) from your employer — all needed for NPS refund and home-country tax purposes. (5) Report of residence address change: if you moved within Korea before departure, update your registered address at your local district office (주민센터) within 14 days — this ensures official correspondence is properly addressed until ARC return. (6) Schools: notify with the required advance notice — international schools (KIS, YISS, BIFS, SFS) typically require one full term; Korean schools require shorter notice.
Tax clearance
NTS (National Tax Service — 국세청, hometax.go.kr) administers personal income tax in South Korea: (1) Tax year and filing: South Korea's tax year is January 1–December 31. For employees, income tax is withheld monthly; the annual settlement (연말정산, year-end tax reconciliation) is processed in February by the employer for the prior year. (2) Departure-year filing: if you leave mid-year, your employer will process a final year-end settlement for the period you worked. For self-employed or income from multiple sources, you must file a comprehensive income tax return (종합소득세 신고) by May 31 of the following year. You can file via the Hometax portal (hometax.go.kr) from abroad. (3) Tax clearance: NTS does not issue a routine individual departure tax clearance certificate. However, outstanding tax obligations can be flagged at immigration — check your NTS Hometax account for any outstanding liabilities before departure. (4) No exit tax on capital gains or deemed disposal applies for most departing individual residents. (5) South Korea has double-taxation agreements with approximately 95 countries — the most extensive DTA network in Asia. Check whether your home country has a DTA with South Korea for planning purposes.
Pension portability
NPS (National Pension Service — 국민연금, nps.or.kr) is South Korea's state pension system. Foreign nationals have specific departure rights: (1) Lump-sum refund eligibility: if you are a national of a country with a bilateral social security totalisation agreement with South Korea, you are NOT eligible for a lump-sum refund on departure — your contributions count toward your home-country pension system via totalisation. Countries with agreements include: USA, Canada, Germany, UK, France, Australia, Japan, China, India, and approximately 30+ others. Check the NPS website for the current list. (2) If your home country does NOT have an agreement with South Korea, and you are leaving permanently, you may apply for a lump-sum refund (반환일시금) of your NPS contributions (employee portion only). Apply via the NPS website (nps.or.kr) or at any NPS branch with: your ARC return confirmation, departure evidence, and bank account details. Processing: 2–4 weeks after departure. The refund amount is your total contributions with accrued interest. (3) NPS contribution rate: employee contributes 4.5% of monthly salary; employer contributes 4.5% — only the employee portion is refundable. (4) Korean pension (if you meet the threshold of 10 years contributions and reach retirement age): payable internationally to a foreign bank account. Contact NPS for direct deposit setup. (5) Occupational pensions: if your employer offered a DC (defined contribution) or IRP (individual retirement pension) plan, contact your plan administrator (퇴직연금) for withdrawal or transfer options.
Health insurance
NHIS (National Health Insurance Service — 국민건강보험, nhis.or.kr) provides health insurance in South Korea: (1) Employee coverage: NHIS coverage ends on the last day of employment. Your employer deregisters you from NHIS when employment ends. (2) Regional subscriber (지역가입자): if you were paying NHIS premiums independently (not through an employer), cancel your regional NHIS subscription at any NHIS branch or service centre. Request a final premium reconciliation statement. (3) Outstanding premiums: unpaid NHIS premiums can prevent re-entry to Korea and appear on your immigration record. Settle all outstanding premiums before departure. (4) Arrange international or home-country health insurance before your NHIS coverage ends. (5) Medical records: request copies from your hospital or clinic — major hospitals in Seoul (Severance, Asan Medical Center, Samsung Seoul Hospital) provide English-language medical summaries on request. Allow 5–10 working days. (6) Prescription medications: collect a 90-day supply for chronic medications. Some Korean-prescribed medications may require different prescriptions elsewhere.
Bank account
Major Korean banks include Kookmin Bank (KB), Shinhan Bank, Woori Bank, Hana Bank, NongHyup (NH), and IBK. Korean Won (KRW) currency: (1) Online banking access: Korean banking apps and internet banking typically require authentication via ARS (automated response) to your registered Korean phone number or via official certificate (공인인증서/공동인증서). Update your banking contacts to international methods before cancelling your Korean SIM. (2) Keep accounts open for 2–3 months after departure to receive: NPS refund, final salary, rental deposit return, and any NHIS premium refunds. (3) International transfers: Korea has no significant capital controls for individuals. SWIFT transfers from Korean banks are standard. Wise is widely used for KRW to foreign currency transfers and is significantly cheaper than bank SWIFT fees. (4) Kakao Bank and Toss (digital banks): these require a Korean ARC-linked account; they may restrict or close accounts when ARC is returned. (5) Close accounts in person at a branch with your passport and ARC before departure if possible. Once your ARC is returned, some banks may restrict account services to existing transactions only. (6) Tax withholding on non-resident accounts: once classified as a non-resident, interest income is subject to 15.4% withholding tax under most Korean tax laws.
Utilities
Key Korean utility providers: (1) Electricity — KEPCO (Korea Electric Power Corporation, kepco.co.kr): cancel online via My KEPCO or at a KEPCO branch. Request a final meter reading on your move-out day. Security deposits (if any) are refunded after final settlement. (2) Gas — city gas managed by regional providers (Seoul City Gas, Korea District Heating, etc.): cancel at the local office or online. Take a final meter photo on your last day. (3) Water: managed by your local district (구) water authority — cancel at the district office. (4) Internet/broadband — KT (kt.com), SKT (SK Broadband), LG U+: most internet contracts are 12–24 months with early termination fees (조기 해지 위약금) proportional to the remaining contract period. Submit cancellation in writing or via the provider's website. Return rented ONT/router. Early exit fees can range from 30,000–200,000 KRW. (5) Mobile phone — SKT, KT, LG U+, MVNO: cancel postpaid plans in store (in person with ARC/passport). Prepaid plans can lapse. Note: many Korean internet and government services require your Korean mobile number for OTP — migrate these before cancelling your SIM. (6) Apartment management fees (관리비): settle all outstanding management fees (including elevator maintenance, cleaning, waste, etc.) before handing over keys — landlords routinely condition deposit return on this clearance.
Rental contract
Korean residential tenancies are governed by the Housing Lease Protection Act (주택임대차보호법): (1) Notice period: for month-to-month (월세) or jeonse (전세) leases, the tenant must give at least 1 month written notice before departure. Many fixed-term leases specify 2–3 months notice. Check your specific lease contract (임대차계약서) carefully. (2) Jeonse leases: the landlord must return the full jeonse deposit (typically 50–80% of market value of the property) within 1 month of lease end under current Housing Lease Protection Act provisions. If the landlord refuses to return the jeonse deposit, you have legal priority rights that follow the property — consult a Korean lawyer before finalizing your departure. (3) Written notice: notify the landlord in writing (KakaoTalk message with screenshots; email; or formal letter). (4) Move-out inspection: conduct jointly with the landlord. Photograph every room, appliance, and all meter readings. Korean landlords commonly charge for full repainting, professional cleaning, and appliance restoration — review what is covered in your lease contract before the inspection. (5) Deposit return: for non-jeonse (regular monthly rent/월세) contracts, deposits (typically 1–3 months rent) should be returned within 30 days of move-out. Keep your rental contract and all payment records — needed if disputes arise.
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