South Korea Commercial Landlord Disclosures: Property Information, Key Money, and Agent Obligations
Guide to commercial lease disclosure requirements in South Korea including property registry review, converted deposit information, key money, and the agent's confirmation document.
Legal Disclaimer
This content is for general informational and educational purposes only. It does not constitute legal advice and should not be relied upon as such. Laws change frequently — always verify current regulations and consult a licensed attorney in your jurisdiction for advice specific to your situation. Landager is a property management platform, not a law firm.
Commercial lease transactions in South Korea require landlords and real estate agents to disclose specific information to prospective tenants. In addition to the standard property disclosures, commercial leases involve unique considerations around converted deposits, permitted uses, and key money.
Disclaimer: This guide provides general legal information for educational purposes only and does not constitute legal advice. Always consult a licensed attorney in South Korea for guidance specific to your situation. Information last verified: March 2026.
Landlord Disclosure Obligations
Pre-Contract Disclosures
| Item | Description |
|---|---|
| Fixed-date certification status | Prior deposit claims on the property |
| Tax clearance certificate | National and local tax delinquency status |
| Property registry | Ownership, mortgages, liens, encumbrances |
| Building register | Use designation, area, illegal construction status |
| Land use plan | Zoning, development plans |
Commercial-Specific Disclosures
| Item | Description |
|---|---|
| Permitted uses | Business types allowed under building management rules |
| Converted deposit status | Whether the lease exceeds the regional threshold and its implications |
| Existing tenant information | Total deposits from other tenants in the building |
| Management fees | Itemized breakdown (common electricity, cleaning, elevator, etc.) |
| Parking | Availability, spaces, additional costs |
Property Confirmation and Explanation Document
When a licensed real estate agent brokers the transaction, the agent must prepare and deliver a detailed confirmation document covering:
| Category | Contents |
|---|---|
| Basic information | Address, area, floor, structure, year built |
| Rights | Owner, mortgages, seizures, liens |
| Use restrictions | Zoning, urban planning limitations |
| Facilities | Electricity, water, gas, HVAC, fire safety |
| Management | Fees, repair reserve fund, management method |
| Transaction terms | Deposit, rent, key money (if applicable) |
Commercial-Specific Agent Obligations
- Business type restrictions — notify if building rules or zoning prohibit certain businesses
- Business licensing feasibility — whether the location supports required permits
- Illegal construction status — unauthorized additions or use changes
- Nearby development plans — redevelopment or reconstruction projects
Key Money Disclosures
| Item | Description |
|---|---|
| Existing key money | Amount paid by the prior tenant |
| Landlord interference history | Any past key money disputes |
| Remaining renewal period | How many years remain of the 10-year renewal right |
A separate key money agreement specifying the type (facility, business, location) and amount is recommended.
Best Practices for Landlords
- Verify building register status — business registration may be denied for illegal constructions
- Explain converted deposit implications — affects the scope of tenant protections
- Disclose permitted use restrictions — prevents post-contract disputes
- Itemize management fees transparently — distinguish common charges from individual charges
- Address key money clearly — document 10-year renewal period and key money recovery rights
How Landager Helps
Landager helps you store and manage lease documents, building registers, and confirmation documents digitally, with renewal-timed update alerts.
Sources & Official References
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