Security Deposit Insurance
Jeonse, Korea’s lump-sum security deposit system, requires tenants to pay up to 70% of a property’s value upfront. Launched on November 3, 2025, Foreigner Home Security Deposit Insurance keeps that money safe—even if the landlord defaults or a fraudulent listing occurs.
Foreigners can face language barriers, unclear ownership records, and unexpected landlord debt. Insurance keeps your security deposit safe until the day you move out.
If the landlord refuses or is unable to return the deposit, the insurer reimburses you directly and handles recovery from the owner.
We verify ownership documents, outstanding mortgages, and legal filings before you sign, reducing exposure to “ghost” or double-leased properties.
Our bilingual specialists explain security deposit (jeonse) clauses, tenant rights, and potential penalties so you understand every stage of the process.
Use these checkpoints to understand the structure and why an insurance-backed security deposit is critical for foreigners.
Instead of paying monthly rent, you provide a large lump-sum deposit for the lease term (commonly 2 years). The landlord invests this money and returns it at contract end.
You should review the certified registration and check for existing liens. Insurance applications require us to confirm these documents on your behalf.
Registering a fixed-date stamp and moving in quickly establishes legal priority. Insurance complements this by paying out even if priority rights are contested.
The guarantee focuses on scenarios foreigners worry about most: landlord default, fraudulent activity, and legal obstacles around security deposits.
Reimburses the full security deposit (jeonse) if the landlord cannot repay at lease end because of bankruptcy, refinancing, or refusal.
Activates if the property was sold, re-leased, or mortgaged without your knowledge, causing loss of priority claims over your security deposit.
Provides legal consultation, interpreter services, and document preparation to navigate court filings or mediation related to your security deposit.
If you must vacate while reclaiming the deposit, receive financial support for temporary housing and moving fees.
We pair you with advisors who understand security deposit (jeonse) requirements, immigration status, and international payment workflows.
Review ownership, identify unpaid taxes, and assess the landlord’s debt profile before signing.
We compile application forms, notarised IDs, and proof of funds, submitting them directly to the insurer.
Track ownership changes during your lease and assist with extensions, early move-outs, or unit changes.
Follow these steps to activate protection before you transfer your funds.
Provide property documents, deposit amount, and personal identification. We run compliance checks within 24 hours.
We share insurer options, premium amounts, and any required documents such as employment or bank statements.
Complete the application with bilingual assistance. Premiums can be paid via Korean bank transfer or supported international remittance.
Receive the guarantee certificate before your deposit is wired. We remain on call for move-in, registration, and potential claims.
Common questions from foreigners navigating Korean security deposits (jeonse) for the first time.
It is not legally required but is strongly recommended, especially if the property has existing loans. Many landlords welcome insured tenants because it demonstrates financial reliability and protects the jeonse deposit.
Premiums average 0.154–0.192% of the deposit amount, depending on the landlord’s credit and property debt ratio. We provide exact quotes after reviewing the registration.
Yes. You will need identification, visa details, and proof of funds or employment. We help collect any additional documents the insurer requests for the security deposit guarantee.
Inform us as soon as you discuss termination with the landlord. We coordinate with the insurer to adjust coverage, ensuring the deposit refund timeline is still protected.
Once required documents are submitted, approved claims typically pay out within 30 days. We stay involved to track progress and push for expedited handling when possible.
Coordinate a consultation before transferring funds so we can verify documents, file insurance, and keep your savings protected. Typical premiums range from $270 to $920 USD for deposits between KRW 150 million and KRW 400 million.