KR · 한국인 투자자를 위해
Seoul yields at 2-3% net under jeonse-system distortion. KRW structural weakness against USD and THB. Korean inheritance tax 50%. K-REITs exposed to Bank of Korea rate cycle. The Korean distribution stack offers domestic exposure at compressed yields with no genuine geographic diversification.
Bangkok prime · 5 to 6% net standard rental cashflow (no jeonse distortion), structural KRW hedge, world-class Korean-friendly healthcare (Bumrungrad / Samitivej), 20-25K Korean expat community established in Sukhumvit Soi 12 "Korea Town." Thai-Korea double-tax treaty in force. This page is the side-by-side honest comparison.
Your Korean alternatives, after-tax
Seoul / Busan direct property
2 to 3% net (jeonse-distorted)
Korean acquisition tax + registration tax stack · jeonse system caps yield economics for landlords · KRW structural weakness against USD and THB · Korean inheritance tax 50%
K-REITs (listed)
4 to 6% gross
Listed equity volatility · concentrated in domestic Korean office / logistics / residential · sensitive to Bank of Korea rate cycle · narrow sector exposure
Domestic property funds
3 to 5%
KRW-only · long lock-up · domestic concentration · limited international RE exposure
US property (popular Korean outbound)
3 to 5%
USD/KRW volatility · US estate-tax exposure · landlord-tax stack · concentrated in CA / HI / NJ for Korean buyers · pricing arbitraged
Vietnam / Da Nang property (cheaper ASEAN alternative)
5 to 7% gross
70-year leasehold (not freehold) · Vietnamese foreign-ownership cap (30% per building) · lower regulatory transparency · longer documentation cycle
The structural wedge
Korean inheritance tax
In Korea
50% headline rate · global-asset basis for Korean residents · among the highest IHT regimes globally
Thai treatment
Thailand-located property is generally subject to Korean IHT for Korean tax residents. Thai-Korea double-tax treaty (in force) provides credit mechanisms. For Korean retirees on LTR who become Thai tax-resident, the residency structure can shift the global tax base materially. Coordinate with Korean 세무사.
KRW structural weakness
In Korea
KRW has weakened materially against USD and THB over 2020-2025 · Bank of Korea accommodation and current-account dynamics
Thai treatment
THB has appreciated against KRW over the past 5 years. Holding Bangkok property is a structural KRW hedge · the rental yields convert favorably and the capital base appreciates relative to KRW-denominated assets.
Jeonse system distortion
In Korea
Korean residential market is shaped by jeonse (large refundable deposit, low monthly rent) · landlord economics differ materially from international standard rental cashflow
Thai treatment
Bangkok rental market is on standard international monthly-rent basis. 5-6% net yield is real cashflow, not deposit-arbitrage-distorted. Maison Siam handles operations · transparent fees, monthly net deposits.
Healthcare cost arbitrage for retirees
In Korea
Korean national health insurance covers domestic care but private healthcare costs increasing · hospital capacity strain in Seoul
Thai treatment
Bumrungrad and Samitivej treat Korean patients regularly · Korean-language services available · costs ~1/3 of equivalent Korean private hospital. For LTR Wealthy Pensioner cohort, this is a core attractor.
한국·태국 이중과세방지조약 (in force). Thai-Korea double-tax treaty eliminates double imposition. Korean 세무사 coordination essential for IHT structuring · we introduce on request.
Visa pathways for Korean buyers
DTV
For whom
Korean remote workers, content creators, K-content / K-tech professionals · 35-50yo on 5y flex visa
Why
5y multi-entry, 180-day stays, 500K THB threshold (~₩18M). Pairs with 8-14M THB 1-bed in Asok, Phrom Phong, or Sukhumvit-mid corridor.
LTR Wealthy Global Citizen
For whom
Korean HNW with $1M+ assets and $80K+ income · senior chaebol-affiliate executives, post-IPO founders
Why
10y residency + 17% Thai-source tax cap + foreign-source remittance exemption. Combined with Korean tax-residency planning, structurally efficient.
LTR Wealthy Pensioner
For whom
Korean retirees with $80K+ pension equivalent · combining national pension + corporate pension + savings drawdown
Why
10y residency + 17% Thai tax cap. Pairs with 12-22M THB 2-bed Phrom Phong or Sathorn. Established Korean expat community in Sukhumvit Soi 12 'Korea Town'.
Thailand Privilege
For whom
Korean HNW seeking long-stay without LTR-level qualification · 900K to 5M THB membership
Why
Includes bank-account introduction service. Bangkok Bank has Korean-language support at HNW tier. Useful for buyers under 50 who don't fit DTV criteria.
Four Korean profiles we work with
The Seoul corporate retiree
Senior executive retiree from Korean MNC or chaebol affiliate. ₩2-5B net worth + corporate pension. Considering Bangkok as full-residence base · healthcare quality + lifestyle + KRW hedge. LTR Wealthy Pensioner. Typical purchase: 12-22M THB 2-bed Phrom Phong or Sathorn.
The K-content / K-tech founder
Just exited a Korean entertainment / SaaS / D2C company. ₩3-8B post-tax. Building cross-Asian diversification base · DTV-to-LTR pathway. Already part of the 20-25K Korean expat community in Bangkok. Typical purchase: 15-30M THB 2-bed Asok, Thonglor, or Phrom Phong.
The Korean family-office principal
Multi-generational Korean family wealth. ₩10B+ net worth. Building cross-Asian diversification + Korean IHT-aware structuring. Typical purchase: 30-80M THB branded residence in Riverside, Sathorn, or Phrom Phong.
The Bangkok-Seoul dual-life professional
Senior tech / finance professional with regional Asian remit. Splits time between Seoul and Bangkok. Already part of established Korean community in Sukhumvit Soi 12. DTV holder. Typical purchase: 10-18M THB 1-bed Asok or Phrom Phong.
Why investors trust Khorna
Projects underwritten
50+
Across 11 prime Bangkok corridors
Data refreshed
Weekly
DDproperty asking-price scrape · live
Net yield audited
5 to 7%
Per project, not portfolio average
Buyer-side alignment
100%
We earn from developer side, not from you
Founder credential
Built by ex-Société Générale Hong Kong investment banker, top-ranked at FazWaz Thailand.
Alexandre Beaumont leads Khorna's underwriting and developer-relationship work. Twelve years of cross-border investment-banking discipline applied to Bangkok property. Etienne Alcouffe builds the data + product layer · live FX, scraped market data, proprietary scoring.
About the team →Methodology
Every data table on this site cites its source. Bangkok prime pricing scraped weekly from DDproperty + verified against CBRE Thailand + JLL quarterly reports. FX from Frankfurter API. Sovereign and macro from S&P / Fitch / Moody's published ratings. School and hospital data from registries (JCI, AEFE, Auslandsschulwesen, British Schools Overseas, Ookla Speedtest).
Khorna Score is published openly · 6-component breakdown on every project page. Khorna Verdict reasoning is published openly. We disclose where the convergence-thesis math has uncertainty.
See the methodology →Investor guide · PDF
6-page tailored PDF · home-market alternatives with after-tax numbers, the tax wedge analysis, visa pathways, our area + unit recommendations for your profile. Sourced data, published methodology.
No spam · just the PDF by return, and one follow-up if relevant.
Talk to us
Tell us your Korean tax situation, your existing allocation, and your timeline. We model your existing yield and tax stack against a Bangkok-prime allocation · Korean-language follow-up available.
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