Jeonse vs. Wolse vs. Banjeonse—2025 Guide for Foreigners Renting in Korea

Jeonse vs. Wolse vs. Banjeonse—2025 Guide for Foreigners Renting in Korea

• Wolse (월세) is the closest to what expats expect: low deposit, monthly payments. It’s flexible, predictable, and great if your employer helps with housing costs.

• Jeonse (전세) is Korea’s unique “key-money lease.” You put down a large deposit (up to 80%), pay no rent for 2 years, and get your deposit back—assuming all goes well. It’s financially efficient long-term, but risky and capital-heavy.

• Banjeonse (반전세) is the in-between: smaller deposit than Jeonse, plus some rent. Think of it as a 60:40 blend of Jeonse and Wolse.

One-Page Snapshot

▲ = amount scale, ★ = higher/better

1. Start at the top:If you have roughly ₩150 M (≈ USD 110 K) in liquid cash, follow the left branch; otherwise, take the right.

2. Length of stay vs. cost tolerance determines which rental model fits best.
• Staying 2 years or more → Jeonse often wins on total cost.
• Unsure about tenure or cash-strapped → Wolse keeps risk and lock-in low.
• Somewhere in-between → Banjeonse splits the difference.

Safety Checklist for Foreign Tenants

1. Register your lease (전입신고 + 확정일자) within 14 days — it gives your deposit legal protection.

2. Get Jeonse Deposit Guarantee insurance (SGI or HUG). Seoul and Busan offer up to ₩400,000 in subsidies.

3. Use the landlord verification tool (집주인 확인 서비스) to check for mortgage or legal disputes.

4. Check the building's completion certificate (사용승인서) — avoid illegal or unregistered spaces.

FAQ

Make Every Rental Price Option Work for You