Jeonse vs Wolse
A jeonse’s huge deposit isn’t “free” — the cash is locked up. Compare both leases by their real monthly cost, and see how much jeonse ties up.
How you value the money locked in the deposit — your jeonse-loan rate if you borrow, or your savings rate if it’s your own cash.
| Jeonse — deposit cost | 666,667 |
| Wolse — rent | 800,000 |
| Wolse — deposit cost | 66,667 |
| Extra cash jeonse ties up | 180,000,000 |
returned at the end of the lease, but locked up meanwhile — and at risk if anything goes wrong.
How it works
It converts both options to an effective monthly cost. Wolse’s cost is its rent plus the opportunity cost of its (smaller) deposit; jeonse’s cost is the opportunity cost of its large deposit. The lower monthly cost wins — but jeonse ties up far more cash.
It’s how you value the money locked in a deposit. If you borrow for the jeonse, use your jeonse-loan rate; if it’s your own savings, use the rate you’d otherwise earn. A higher rate makes the big jeonse deposit look more expensive.
Not always. Jeonse usually costs less per month, but it locks up a large deposit you can’t use — and that deposit is exactly what’s at risk in fraud. Weigh the monthly saving against the cash tied up and the risk.
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A ₩200M jeonse at 4% costs about ₩670,000/mo in locked-up value — vs a wolse of ₩20M deposit + ₩800,000 rent at about ₩867,000/mo. Jeonse is ~₩200,000/mo cheaper, but ties up ₩180M more.
“Cheaper per month” isn’t the whole story — a large jeonse deposit is exactly what’s lost in deposit fraud. Always check the property register and protect your deposit (see the guide).
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People also asked
Usually on a monthly basis, because you only “pay” the opportunity cost of the deposit rather than rent. But if rates are high, or you’d borrow the whole deposit, the gap shrinks — compare your own case.
Often 50–80% of the property’s value. That’s why jeonse ties up so much cash and carries the most risk if anything goes wrong.
Foreign residents can apply for a jeonse loan if they meet the conditions (enough time left on your ARC, employment, a debt-ratio limit). The loan interest then becomes your real monthly cost — put that rate into the calculator.