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Protect your precious money! Things to do after moving

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Protect your precious money! Things to do after moving

Job Manager

When looking for a home to move into in Korea, unlike in other countries, you will find that deposit amounts range from 5 million won to hundreds of millions.
The more money you have to put down, the more worried you'll be about getting that precious money back. There are some things that tenants must do after signing a lease to ensure that their rights are protected!



1) Already have an ARC(Alien Registration Card)

You should notify the community service located near your new address within 14 days ((if you do not notify your move-in within 14 days, you will be fined), following which you can get a stamp stating the fixed date on your contract paper.
Just visit a community service center with your contract paper and ARC to fill out the form.
When notifying your new address you will receive 2 different stamps: 전입신고 (move-in notification) and 확정일자 (fixed date).

전입신고: When moving to a new home you need to register your change of address.
확정일자: This refers to the date written on the lease contract. At the time of signing the contract will be stamped with a date to confirm when the contract was signed.

It may sound complicated but you must report both in order for the tenant to claim the right to live and the right to lease deposits.
Make sure to report both so that you can keep your deposit. Just in case there is an issue with the home or your landlord incurs a major amount of debt!

How to report your move-in and receive a fixed date:
💬 “안녕하세요, 전입신고 하고 확정일자 받으러 왔어요”
"Hello, I'm here to report my move-in and get a fixed date"



2) Do not have an ARC yet

When going through airport immigration, you do not need to bring a completed contract (this is done when you move in).
Just tell them the address of your place in Korea. After moving in, you can complete the address registration for foreigners with the completed contract in hand.
Bring your contract and passport to the Korean immigration office and they will do all the paperwork for you.
Once you are done with this process, your deposit is protected by the ‘HOUSING LEASE PROTECTION ACT’.
This might not be familiar to you. If a building is put up for auction, you have the right to preferential payment that can be repaid, up to a maximum of 3,7000,000 won for buildings located in Seoul (the amount varies for different provinces and cities).


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