Foreign Buyers · South Korea · 한국 구매자
페낭 부동산 투자 가이드 — 한국인 구매자를 위한 2026년판
한국인은 페낭에서 영구소유권(freehold) 콘도를 최소 RM1,000,000(약 KRW 3억 6,400만)부터 구매할 수 있으며, 연 4–5.5%의 임대 수익률을 기대할 수 있습니다. 단, 송금 전 외국환은행 신고가 필수입니다.
Korean buyers can purchase Penang freehold property above RM1M (~KRW 364M indicative mid-2026) with 4–5.5% gross rental yield — but must file a report with a designated foreign exchange bank before remitting funds, under Korea's Foreign Exchange Transactions Act.
The KRW/MYR Numbers — 2026
At an indicative mid-2026 rate of KRW 1 ≈ MYR 0.00274 (or MYR 1 ≈ KRW 364), the RM1,000,000 foreign-buyer minimum on Penang Island costs roughly KRW 364 million. The average Seoul apartment sold for approximately KRW 1.2 billion in early 2026 — meaning the Penang Island entry point is well under a third of an average Seoul unit, for a freehold title.
~KRW 364M
RM 1,000,000
Foreign-min freehold, island
~KRW 469M
RM 1,287,000
Waterstone, Tanjung Bungah
~KRW 546M
RM 1,500,000
Premium north island
Indicative mid-2026. KRW/MYR rate fluctuates — reconfirm at time of remittance.
Before You Remit — The Korean Bank Report
This is the step that catches Korean buyers off guard. Under Korea's Foreign Exchange Transactions Act, a Korean resident buying overseas real estate must file a prior report with a designated foreign exchange bank (외국환은행) and receive approval before remitting funds — there is no minimum threshold that exempts this. Post-completion, you must file an acquisition report within 3 months of remitting, and a status report every 2 years while you hold the property. If the acquisition value is KRW 200 million or more (which most Penang Island purchases at the RM1M minimum will be), you must also file an annual overseas asset statement with Korea's National Tax Service. Run this in parallel with your Malaysian SPA and state consent process — not after — since both have their own timelines. Confirm current procedure with your bank's foreign exchange desk before remitting.
Why Penang Resonates with Korean Buyers
Freehold at a Price Seoul Can’t Match
RM1M (~KRW 364M) buys a freehold sea-facing condo in Tanjung Bungah or Tanjung Tokong — a combination that does not exist in Seoul at this price point.
Yield 2-4x Seoul
Penang long-term residential gross yield 4–5.5%; well-managed STR 6–9%. Seoul apartment gross yields run roughly 1.2–3% (market tracking data, early 2026).
No Direct Flight, ~9hr One-Stop
No non-stop ICN–PEN route exists. Fastest one-stop connections via Kuala Lumpur or Hong Kong run roughly 8.5–9.5 hours total on Korean Air, Malaysia Airlines, or Cathay Pacific.
Lower Cost of Living
Grocery, dining, and services costs in Penang run well below Seoul equivalents — a compounding gap for buyers planning extended stays or retirement.
Visa Pathways for Korean Buyers
Property ownership and visa status are separate in Malaysia — you can purchase without any long-stay visa:
- Social visit pass — 90 days visa-free, renewable via border run; no work rights.
- MM2H — 5-year renewable long-stay pass; South Korea is a consistent presence among applicant nationalities. See our MM2H Penang guide.
- DE Rantau — 12-month renewable pass for verified remote workers.
- Employment Pass — requires a Malaysian employer; full resident tax treatment.
Contact Zac
한국인 구매자? 최신 프로젝트 리스트 받기
현재 한국인 구매자에게 적합한 프로젝트 3–5개를 보내드립니다 — 영구소유권, 외국인 구매 가능, PSF는 실제 거래 데이터와 대조되었습니다.
📲 WhatsApp Zac — 한국인 구매자Korean Buyer Strategies in Penang
Strategy 1 — Freehold Seafront Lifestyle Base (Tanjung Bungah)
Sea-facing freehold residence for own-stay or extended retirement use. Priced at less than a third of an equivalent Seoul apartment.
Typical fit: Waterstone (Tanjung Bungah).
Strategy 2 — Yield-Focused Freehold (Georgetown / Gelugor)
Long-term residential lease targeting 4–5.5% gross yield, well above Seoul's roughly 1.2–3% apartment yield range.
Typical fit: Lumina Residence (Georgetown), Merione Residences (Gelugor).
Strategy 3 — Pre-Retirement Base with MM2H Runway
Purchase first on a social visit pass, evaluate MM2H once settled. Premium freehold residential title in the established north island expat corridor.
FAQ for South Korean Buyers
Can South Korean citizens buy property in Penang?
Yes. South Korean citizens are treated as foreign buyers — RM1M minimum on Penang Island, RM600K on mainland, state consent (COSA) required, 3% foreign levy on Penang Island. No additional restrictions specific to Korean nationals on the Malaysian side.
Do I need to report the purchase to a Korean bank or Bank of Korea?
Yes. Under Korea's Foreign Exchange Transactions Act, Korean residents must file a report with a designated foreign exchange bank and receive approval before remitting funds to buy overseas real estate — there is no minimum threshold. Post-acquisition, a report is due within 3 months of remittance, and a status report every 2 years while you hold the property. Holdings valued at KRW 200 million or more also require an annual statement to the National Tax Service.
What is the KRW cost of an RM1M Penang condo in 2026?
At an indicative mid-2026 rate of KRW 1 ≈ MYR 0.00274 (MYR 1 ≈ KRW 364), an RM1,000,000 Penang Island condo costs approximately KRW 364,000,000 — well under a third of the average Seoul apartment price of roughly KRW 1.2 billion in early 2026.
How is Penang rental income taxed for Korean owners?
Rental income is taxed in Malaysia (LHDN) at progressive non-resident rates after allowable deductions. Korean residents must also declare foreign-source income and holdings per Korean tax law, including the annual overseas real estate statement for holdings above KRW 200 million. Confirm with a cross-border tax advisor.
What is RPGT for a Korean seller of Penang property?
Foreign sellers, including Korean nationals, pay Real Property Gains Tax at 30% for years 1–5 of ownership, dropping to 10% from year 6. The buyer's solicitor retains 7% of the purchase price at completion pending LHDN's final assessment — 3% is the citizen rate, and 5% applies only to Malaysian companies.
See also: Foreign buyer guides · RPGT calculator · MM2H Penang