Jeonse is a unique Korean rental system where the tenant pays a large lump-sum deposit (typically 50-80% of the property value) instead of monthly rent. The deposit is returned in full when the lease ends.

Wolse is the standard monthly rent system, usually with a smaller deposit (보증금). You pay a deposit plus monthly rent.

Which is better for foreigners?

Wolse (monthly rent) is usually more practical for foreigners since jeonse requires a very large deposit. However, if you have the capital, jeonse can save money long-term.

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Housing in Korea

Jeonse vs Wolse Calculator

Convert between key money deposit and monthly rent.

1Jeonse to Monthly Rent

Jeonse Deposit

만원 (₩10K)

New Deposit (보증금)

만원 (₩10K)

Conversion Rate 4.5%

Legal cap: Bank of Korea base rate + 2% (currently ~5.5%)

Equivalent Monthly Rent

₩1,087,500

with a ₩10,000,000 deposit

📖 Understanding Korean Rentals

Jeonse (전세): You pay a large deposit (typically ₩50M–300M+) and NO monthly rent. The landlord invests your deposit and earns returns. When your lease ends, you get the full deposit back. Risk: if the landlord can't repay, recovery can be difficult.

Wolse (월세): Smaller deposit + monthly rent, similar to Western rentals. More common for foreigners and short-term stays.

Banjeonse (반전세): A hybrid — moderate deposit with reduced monthly rent.

Tip for foreigners: Always register your lease at the local 주민센터 (community center) for legal protection. This gives you priority claim on the deposit if anything goes wrong.

✓Updated for 2026Last reviewed October 6, 2026See what changed

Written and reviewed by Taeyang Kim · Rates and thresholds are taken directly from the official notices of Korea's National Tax Service, National Pension Service, National Health Insurance Service, Ministry of Employment and Labor, and Minimum Wage Commission. Results are non-binding estimates for reference only and may differ from the actual amount depending on your circumstances. Found a mistake? Tell us through Contact.