First-home acquisition tax relief of ₩2M — a ₩1.2B home qualifies, a ₩1.201B home gets nothing
A first-time home buyer has up to ₩2M of acquisition tax waived. Three conditions: neither you nor your spouse has ever owned a home, the price is ₩1.2B or less, and the purchase is made by 31 December 2028. A ₩150M home has its full ₩1.5M tax waived; a ₩300M home pays ₩3M minus ₩2M, ₩1M; a ₩1.2B home pays ₩36M minus ₩2M, ₩34M. At ₩1.201B the cap is exceeded, the relief is ₩0, and the full ₩36.03M is due.
Conditions used in the video
- Condition ①
- neither you nor your spouse has ever owned a home
- Condition ②
- price ₩1.2B or less
- Condition ③
- acquired by 2028-12-31
- Relief cap
- ₩2M
- Basis
- Restriction of Special Local Taxation Act Article 36-3
- Proposal
- officetels · ₩3M for young buyers (before the Assembly as of 2026-09-05)
Results
- ₩150M home
- full ₩1.5M tax waived
- ₩1.201B home
- relief ₩0 · ₩36.03M in full
- ₩300M home
- ₩3M − ₩2M = ₩1M
- ₩1.2B home
- ₩36M − ₩2M = ₩34M
- Cap
- ₩1.2B. ₩1M over erases the ₩2M
- Sunset
- 2028-12-31
At a glance
With a ₩2M cap, cheap homes are fully waived, homes up to ₩1.2B get ₩2M off, and above ₩1.2B nothing.
- ₩150M₩0 (₩1.5M waived)
- ₩300M₩1M
- ₩1.2B₩34M
- ₩1.201B₩36.03M (no relief)
Why it works this way
Buy your first home and up to ₩2M of acquisition tax is waived. A ₩1.2B home qualifies. But a ₩1.201B home gets nothing at all.
Restriction of Special Local Taxation Act Article 36-3.
- No ownership historyneither you nor your spouse has owned a home
- ₩1.2B or lessby purchase price
- 2028-12-31acquired by then
A ₩150M home has its full ₩1.5M tax waived. A ₩300M home pays only ₩1M after ₩2M is taken off ₩3M. A ₩1.2B home pays ₩34M after ₩2M is taken off ₩36M.
Engine acquisition-tax-relief figures.
- ₩1.2B₩36M − ₩2M = ₩34M
- ₩1.201Bover the cap · relief ₩0 · ₩36.03M
- Difference₩1M of price, ₩2.03M of tax
Extending relief to officetels and a ₩3M limit for young buyers are in the government's 26 August 2026 proposal, still before the Assembly as of 5 September 2026 and not current law.
The legal basis
Drawn from government announcements and the statutes themselves as primary sources, covering only the relevant part.
Restriction of Special Local Taxation Act Article 36-3 (Acquisition tax relief for first-time home buyers)
In force Current · sunset 2028-12-31 (checked 2026-09-05)
Where a person who, together with their spouse, has never owned a home acquires a home priced at ₩1.2B or less, acquisition tax is waived up to ₩2M, for acquisitions through 31 December 2028.
What this means
₩1.2B is a cliff. A ₩1M difference erases ₩2M. Keeping the contract price within ₩1.2B is the practical use of this provision.
Run it on your own numbers
The calculator opens with these conditions already filled in. Change the figures and your own case comes straight out.
Open the Acquisition Tax Relief Calculator
Frequently asked
What if my spouse owned a home in the past?
Neither you nor your spouse may ever have owned a home. A spouse's past ownership disqualifies you.
Do officetels qualify?
As of 5 September 2026, current law covers housing. Extending it to officetels is a government proposal still before the Assembly.
I heard young buyers get ₩3M?
That is also part of the 26 August 2026 government proposal. Until it passes the Assembly, the current cap is ₩2M.
Why does ₩1.201B get nothing at all?
A price of ₩1.2B or less is a condition, so exceeding the cap removes the relief entirely. The amount does not taper; it goes to zero.
Results are estimates based on the inputs and on the rules as at the stated date. They may differ from a lender's actual assessment, and the rules change often. Take professional advice before any decision that matters.