Read 6534 times

  • suntofu
  • Adventurer

    • 32

    • March 03, 2014, 05:34:36 pm
    • Busan
Importing/Shipping Car
« on: March 06, 2014, 11:01:12 am »
Has anyone done this when coming to teach in south korea?
i want to bring my car and was wondering how much it would cost. also wondering if the government (us or rok) would pay for most of it. I know that government jobs usually do pay for things like that cause a family friend had done it citing that most of the cost was covered by the government.

anything on this subject would be helpful! thanks everyone

  • nzer-in-gyeongnam
  • Moderator - LVL 3

    • 782

    • August 07, 2010, 01:23:29 pm
    • Gyeongnam-do
Re: Importing/Shipping Car
« Reply #1 on: March 06, 2014, 11:23:51 am »
Buying a car in Korea is really easy and relatively cheap, so unless you're wanting to pay the bill yourself (can't see the government wanting to pay for the shipping of cars or all foreigners would be doing it).

You'll have to get an international license or get a Korean one here, to drive in Korea, and you'll need to pay compulsory insurance on any vehicle you drive in Korea too.

Are you looking to be here for a LONG time? If not, leave your car in the US with family or in storage and use it when you are back on vacation. - Just my suggestion.
"It's better to have tried and failed, than never to have tried at all!"
Teach this to your students... they'll thank you for it later!

  • oskinny1
  • Expert Waygook

    • 662

    • November 01, 2010, 10:31:37 am
    • Busan
Re: Importing/Shipping Car
« Reply #2 on: March 06, 2014, 11:34:07 am »
It may depend on if you are working for a contractor and what they are willing to provide. I know many military folks bring cars over.

The best thing would be to ask the infrastructure or HR people at your place of employment.

Check out the site below.

  • waygo0k
  • The Legend

    • 4151

    • September 27, 2011, 11:51:01 am
    • Chungnam
Re: Importing/Shipping Car
« Reply #3 on: March 06, 2014, 12:47:58 pm »
For teachers - NOT...WORTH...IT  :laugh:

Insurance and Freight cost alone will run you a guesstimated $3000. Then you'll have to pay import duty/clearance (maybe both, don't really remember) before they can release the car at the port, this will be a percentage of the estimated cost of the vehicle - decided by the Korean government (remember foreign vehicles are significantly more expensive here....some have 70%-100% mark ups!). I'f I'm correct, the tax will be 40% of the government-provided value.

At this stage, you cannot drive the car legally, even to the registration office. You'll have to find a forwarding company (one of them tow trucks, or someone with permission to drive/transport vehicles in these type of situations), another few hundred down the drain.

Now for the part that will make you cry:

You will have to pay for insurance...and insurance companies in Korea LOVE clients with foreign cars - because they can charge you double, triple, quintuple, even 10 times the rates for local cars (I know someone with a 2010 Mustang GT...his insurance is 10 MILLION WON!!!!!!!).

When you go to register the car, you will have to pay the registration fee, AND another tax - again a percentage of the government's estimate of your car's value. the time you're done bringing the car over and registering it, the amount of money spent on the entire process would probably buy you the same car in the states ;D

  • ado
  • Adventurer

    • 58

    • August 30, 2012, 07:58:30 am
    • Yeongwol
Re: Importing/Shipping Car
« Reply #4 on: March 06, 2014, 01:04:54 pm »
First question is how long are you planning on staying?

You are looking at around 33% of your car and shipping cost for the tax and duty. IIRC if you shhip it as part of your household items and within 6 months of arrival you don't have to do the type approval test (or something similar).

Once it arrives and released from customs you get a temp plate which you can drive to tests and reg offices etc. To register the car I think you have to pay around 10% for bonds and other fees then they'll give you your plates.

These are just information that I remember from when I looked into it. There are lots of info online as well.

I have a 05 Cooper S and my insurance is 800k a year. Insurance isn't expensive here unless you are bringing a Ferarri.

  • suntofu
  • Adventurer

    • 32

    • March 03, 2014, 05:34:36 pm
    • Busan
Re: Importing/Shipping Car
« Reply #5 on: March 06, 2014, 01:24:15 pm »
thanks for all the info guys. yeah it seems expensive to ship a car to korea. I'll be there a while and I'm paying bills on it anyways so i thought id try to bring it over. especially if i could have government assistance. im applying for a teaching job with the government so i was hoping i could register my car in korea and have them pay it as a personal property that i need to bring with me. oh well we'll see! thanks everyone. ill post results in the instance that it could help someone else in the future.

  • Ichi
  • Adventurer

    • 30

    • August 20, 2010, 05:48:32 pm
    • South Korea
Re: Importing/Shipping Car
« Reply #6 on: March 07, 2014, 01:41:32 pm »
I shipped my car over here last year.  its actually much cheaper than you would expect.  if you live anywhere near LA then it will be better, if not its worth taking a road trip to save the cash.  i paid about $1500 total for shipping from LA to Busan then they shipped the car in the crate to Incheon.  My car was brand  new and actually made in Korea so I didn't have to pay any taxes on it.  But like others have said it might be anywhere from 20~40 percent.  If its a Chevy or a Ford you might be ok because of the tax agreements.  not sure though.  MY insurance is pretty cheap i only pay about $600 for the year.  Taxes are annoying though seems like I have to them about 4 times a year and it runs about $130 each time.  Gas prices here are TERRIBLE!  if you are planning to ship a car here i would only do it if its brand new or very close to new.  Remember it has to be paid off and you have to get the title released.  also like others have said only ship it here if you plan on being here for a long time. make sure you don't mind it getting scratched up or even getting in a car accident.  because one or both is guaranteed to happen. lastly if you are really considering a car think about getting a used car here since they are very cheap and new cars lose their value really quickly here.  since the country is so small most of the used cars have very low miles on them but sell for much less than they do back home. 

  • suntofu
  • Adventurer

    • 32

    • March 03, 2014, 05:34:36 pm
    • Busan
Re: Importing/Shipping Car
« Reply #7 on: March 09, 2014, 04:24:05 am »
ah thanks very much! do you know anything about japanese cars? the honda's in particular?

Re: Importing/Shipping Car
« Reply #8 on: March 09, 2014, 07:42:10 am »
New honda civics are around 36,000,000 won. That's double the price in the states.

Accord 6 cylinders are around 50,000,000 won.

Definitely not worth it.

If you are working with the DOD, you can buy a Ford on base for the same prices of Fords in the states.