Korea has no plain retirement visa. Long-term routes are mainly the F-2 residency (including an investment programme of around 1 billion won in designated tourism and leisure zones), leading after five years to F-5 permanent residence; family routes also apply.
A few things to line up early:
Visa rules change often — treat this as a starting point and confirm the latest official requirements before you plan.
Remember: buying a home and gaining the right to live there are usually separate steps. See how ownership works in South Korea, and what it costs to live there in our cost-of-retiring guide.
A useful rule lets foreign nationals who've been Korean residents for five years or less (in the past ten) be taxed only on Korean-source income plus any foreign income actually remitted to Korea, so an overseas pension kept abroad can escape Korean tax in those early years. After five years, worldwide income is taxed at progressive rates of 6-45%, plus a 10% local surtax.
Excellent and affordable — foreigners staying more than six months must join the National Health Insurance Service, with premiums for a retiree commonly around 150,000-160,000 won a month, and the scheme covering roughly 60-80% of costs at world-class hospitals. You can walk into top hospitals with your NHI card. Very safe with low crime and superb infrastructure; English is limited outside younger, urban circles so some Korean helps, and they drive on the right.
Seoul, where Itaewon and Hannam-dong are the long-standing international districts; the milder, coastal port city of Busan for a more relaxed pace; and green, volcanic Jeju Island, increasingly popular for slower subtropical living.
Thinking seriously about South Korea?
Two honest Brits, a private call, and straight answers — see if a freehold home abroad is a fit for you.
See if you qualify →