If you’re new to Korea, understanding the local rental system can be confusing.
Unlike many countries, Korea offers two main rental options: Jeonse and Monthly Rent (Wolse).
In this post, we’ll break down what they mean, how they work, and help you decide which one is right for you.
Renting a place to live in Korea can be a bit of a culture shock—especially if you’re new to the country. One of the first things you’ll notice is that Korea doesn’t just have “monthly rent” like many other countries. Instead, there are two main rental systems: Jeonse and Monthly Rent (Wolse). And they’re pretty different from each other.
In this post, I’ll walk you through what each one means, how they work, and which one might be better for your situation as a foreigner living in Korea.
🏠 So, What is Jeonse?
Jeonse (전세) is a rental system you might not find anywhere else in the world. Instead of paying rent every month, you pay the landlord a huge deposit—we’re talking 50% to 80% of the home’s value—all upfront.
Sounds wild, right?
The good news is that you don’t pay any monthly rent while you live there. And at the end of your lease (usually 2 years), the landlord gives back your entire deposit—as long as there’s no damage or issues.
It’s a great system if:
- You have enough money saved up
- You want to avoid monthly expenses
- You’re planning to stay in Korea long-term
But yeah… it’s definitely not for everyone.
💸 Then What’s Monthly Rent (Wolse)?
This one’s more familiar to most of us. You pay a smaller deposit (usually 1–3 months’ rent), and then you pay rent every month like you would back home.
Monthly rent is much more common for:
- Students
- Expats on short stays
- Anyone without a big chunk of cash
It’s flexible and easier to manage at first, but over time the cost adds up. Plus, you don’t get most of your money back—only the deposit (if any) is refundable.
🔍 Which One’s Better?
It depends on you!
If you’re staying long-term and can afford a big deposit, Jeonse could save you money in the long run—and you don’t have to worry about monthly payments.
If you’re new to Korea or just staying for a year or two, Monthly Rent is more realistic. It gives you more housing options without the stress of coming up with a massive deposit.
🌟 My Tip?
If you’re just getting started in Korea, don’t rush.
Talk to locals, explore your neighborhood, and work with a real estate agent who understands what foreigners need. And always—always—read the contract carefully (don’t worry, I’ll cover that in a future post 😉).
In the next post, I’ll introduce the different types of housing in Korea—like apartments, villas, officetels, and even goshiwons.
Stay tuned! 💬
