From Applying for Korean Nationality Reinstatement to Adapting to Life in Korea
Many overseas Koreans are preparing to return to Korea after years of living abroad.
This process is often referred to as “reverse immigration.”
While it may seem manageable due to familiarity with the Korean language or having family and relatives in Korea,
the reality is that returning to Korea often involves much more preparation than expected and can lead to unforeseen challenges.
Below are five critical things you must know in advance to avoid setbacks when preparing for your reverse immigration.
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1. Housing Preparation
One of the most important aspects of returning to Korea is deciding where and how you will live.
Korea has a unique housing system, including jeonse (lump-sum deposit leases), which may differ from housing systems abroad.
Housing prices and rent can vary significantly between Seoul metropolitan areas and rural regions, so it’s essential to determine your preferred location and housing type early on.
1) Choosing a location:
✔Metropolitan areas with convenient transportation and medical facilities
✔Regions where you have family or previous ties
2) Choosing a housing type:
✔Purchase: Apartment, villa, or detached home
*Check your eligibility for mortgage loans in advance
✔Lease: Jeonse or monthly rent
2. Health Insurance / Private Insurance
1) National Health Insurance
If you’re aged 65 or older and regain Korean nationality,
you’ll be automatically registered as a regional subscriber once you complete resident registration.
✔Premiums are calculated based on income and assets.
✔Enrolling in national health insurance ensures you can access regular checkups and medical services at discounted rates.
2) Private Insurance (Actual Expense, Life Insurance)
In addition to national health insurance, you can also apply for private insurance.
🔖Actual Expense Insurance
✔Covers non-reimbursed hospital costs such as outpatient visits, hospitalization, and non-covered services.
✔Up to 90% of your out-of-pocket costs may be reimbursed.
🔖Life Insurance
✔Pays a death benefit to designated beneficiaries and often includes a savings component.
✔Can be part of an estate plan if your family resides in Korea.
✔If your children (beneficiaries) reside overseas, additional paperwork may be required.
❗️ Individuals aged 65 and older are eligible for national health insurance, but only some insurers offer private policies to seniors.
❗️ Many private plans have an age limit (usually 65–70), and premiums tend to be high.
❗️ Pre-existing conditions (hypertension, diabetes, cancer, heart disease) may restrict or prevent approval during underwriting.
3. Transferring Assets and Finances
If you've been living abroad for a long time, you'll need to transfer your assets to Korea when returning.
This includes learning about foreign remittance procedures and foreign financial account reporting requirements.
✔If bringing in over USD 10,000, you must declare it at customs.
✔There’s no limit to how much you can remit under your name, but you must report foreign accounts.
✔To open a Korean bank account, you need a Resident Registration Card or Alien Registration Card.
✔This requires completing nationality reinstatement procedures first.
✔Consider opening a foreign currency account to hold USD, but be mindful of exchange rate fluctuations.
4. Taxes
If you register as a resident and live in Korea for 183 days or more, you are classified as a Korean tax resident.
This means you may be required to report not only domestic but also overseas income, such as interest, dividends, or rental income.
✔Key taxes in Korea include comprehensive income tax and property tax.
✔Income tax is reported every May.
✔If your overseas financial account balance exceeds USD 500,000, you must file a report in June each year.
✔Failure to do so may result in penalties.
✔Fortunately, Korea has tax treaties with countries like the U.S. and Canada to prevent double taxation on the same income.
5. National Pension and Basic Pension
1) National Pension
✔If you previously contributed to the Korean National Pension,
you can resume pension benefits once your nationality and resident registration are restored.
✔You must meet the minimum contribution period of 10 years to receive payments.
✔You can also join as a new subscriber and build up to 10 years.
2) Basic Pension
✔If you are 65 or older and your income and assets fall below a certain threshold,
you may be eligible for a monthly government pension allowance.
Before preparing for reverse immigration, the first step is to update your visa or residency status.
If you currently hold a foreign nationality as an overseas Korean, follow the steps below in order:
1) Report nationality loss
2) Obtain an F-4 visa (Overseas Korean visa)
3) File your residence report and receive an ARC
4) Apply for nationality reinstatement
5) Receive your Resident Registration Card
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Jumping straight into life in Korea can be overwhelming, as housing, healthcare, finance,
and culture may be very different from what you're used to.
Before fully committing to reverse immigration, consider options like split living (alternating between Korea and the U.S.)
or spending a month in Korea to test the waters.
1) Prepare for Nationality Reinstatement While Rehearsing Daily Life in Korea
To apply for nationality reinstatement, you must reside in Korea for a certain period.
During your stay, try living like a local—use public transportation, make medical appointments, rent a car, and experience everyday life firsthand.
2) Visit and Explore Areas Where You Might Live After Returning
There is a significant difference in lifestyle and cost of living between metropolitan and non-metropolitan areas in Korea.
For seniors over 65, living in metropolitan areas or locations near subway stations is often more convenient
due to better access to hospitals and public transport. However, such areas usually come with a higher cost of living.
Spend time exploring different regions to evaluate which location and housing type best suit your needs.
3) Practice Cultural and Emotional Adaptation
A sudden transition to life in Korea can feel unfamiliar and isolating, especially if you don’t have family or relatives nearby.
Take the time to build emotional connections by visiting relatives, attending church services, joining networking or community center events,
and engaging with the local community in advance.
Hanguk Visa provides customized visa solutions for overseas Koreans and foreign nationals living in Korea.
We offer consulting and agency services for personal and business visas, including translation, stay duration management, and more.
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We also guide you through the entire nationality recovery process: nationality loss report, recovery application, and non-exercise oath.
Our team can handle all document preparation, translations, notarizations, and apostille procedures with speed and accuracy.
We also offer legal and administrative consultations to help with common issues in the nationality recovery process.
We’ll suggest the best visa solution for your specific situation.
📞Tel: 02-3210-1113
✉Kakao Channel: 한국비자
📣Instagram: @hanguk_visa
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