Korean Rent Decoder
Turn "1000/70" into real numbers, fees and move-in cash.
Listings write prices in units of 만원 (10,000 won), so “1000/70” means a 10 million won deposit and 700,000 won a month. Landlords often accept a bigger deposit for lower rent, or the reverse. For the agent fee, the deal value is the deposit plus 100 times the monthly rent. If that comes to less than 50 million won, the rent is multiplied by 70 instead. The figure shown is the legal ceiling for ordinary housing (rules in force since October 2021). It is a maximum, so you can agree on less, and VAT may be added on top. Tenant and landlord each pay their own agent fee. Officetels and commercial units use different rates.
Korean rental listings compress a lot into a few numbers. Paste a price such as 1000/70 to see the deposit, the real monthly cost, the maximum agent fee and how much cash you need on move-in day.
Reading a listing
Prices are written in units of 10,000 won. In 1000/70 the first number is the deposit, 10 million won, and the second is the monthly rent, 700,000 won. A single large number such as 3억 with no rent is jeonse, where you lend the landlord a lump sum and pay no monthly rent.
Wolse, jeonse and ban-jeonse
Wolse is monthly rent with a deposit and is what most foreigners choose. Jeonse replaces rent with a very large deposit that is returned when you leave. Ban-jeonse sits between the two. Deposit and rent trade off against each other, so landlords will often lower the rent if you can put down more.
Protecting your deposit
Register your address and get a fixed date stamp (확정일자) on the contract as soon as you move in. Together they give your deposit legal priority if the property is ever sold or seized. Before signing, ask the agent to show you the property register so you can see existing loans against the building.
Questions people ask
What does 1000/70 mean in a Korean rental listing?
A deposit of 10 million won and a monthly rent of 700,000 won.
Do I get my deposit back in Korea?
Yes. The deposit is returned in full when the lease ends, minus any unpaid rent or damage.
How much is the real estate agent fee in Korea?
It is capped by law and depends on the size of the deal. For a 5 million won deposit and 400,000 won rent the ceiling is 165,000 won. For a 10 million won deposit and 600,000 won rent it is 280,000 won. The amount is a maximum, so you can negotiate below it, and VAT may be added.
Who pays the agent fee, the tenant or the landlord?
Both. The tenant and the landlord each pay their own fee to the agent, and each is capped separately.
What is jeonse?
A lease where you pay a large lump-sum deposit and no monthly rent. The landlord returns the full deposit at the end.