Jeonse and wolse explained
Jeonse (전세) is a uniquely Korean lease: you pay a large deposit, often 50–80% of the home's value, and no monthly rent; the full deposit is returned at the end of the lease. Wolse (월세) combines a smaller deposit with monthly rent. The conversion rate links the two: annual rent ÷ (deposit difference).
Protecting your deposit
- Register your move-in (전입신고) and get a fixed date (확정일자) on your contract at the community center right after moving in.
- Check the property register (등기부등본) for mortgages before signing.
- Consider jeonse deposit guarantee insurance (HUG/HF), available to registered foreign residents.
Read in Korean: 전월세 전환 계산기