Renting in Korea as a Foreigner: Deposit, Jeonse, Wolse and Agent Fees

Checked on 2026-11-02

Korean rentals usually involve a large deposit. Most of the risk for tenants is getting that deposit back, so complete the steps below in order.

Jeonse and wolse

Wolse is monthly rent with a deposit. Jeonse is a much larger deposit with no monthly rent. To compare them, convert the monthly rent into a deposit. For an existing lease being changed or renewed, the legal conversion cap is the lower of 10% and the base rate plus 2 points, currently 5.0% a year. New contracts are not capped this way.

Before you sign

• Get the registry document (deunggibu) and check that the person signing is the owner.
• Check existing mortgages. A deposit ranks behind debts registered earlier.
• Compare the registered debts and your deposit with the market price of the home.
• Pay the deposit to the owner's account, not a third party's.

After you move in: two steps

1. Report your new address. Registered foreigners must report a change of residence within 15 days of moving, at a community service center (jumin center) or an immigration office. Korea's Supreme Court held in 2016 that this report has the same effect as a Korean resident registration for tenant protection.
2. Get a fixed date (hwakjeong ilja) on your lease at a community service center or other authorized office. Foreigners can receive it using their registration number.

Moving in and reporting your address gives you the right to assert your lease against third parties from the next day. Adding a fixed date gives you priority repayment if the home is sold at auction. Do not change your registered address before you get your deposit back. If the landlord does not return it when the lease ends, ask a lawyer or legal aid office about a tenancy registration order before you move out.

Agent fees

Agent fees have legal caps and can be negotiated within them. For a rental, the base amount is the deposit plus monthly rent × 100. If that is under ₩50 million, use the deposit plus monthly rent × 70 instead.

Higher rates apply from ₩600M: 0.4%, 0.5% and 0.6% in the bands above it. These are the Seoul rates, and each province sets its own within the national limit.

Example: a ₩10 million deposit and ₩700,000 rent gives a base of ₩80 million, so the cap is ₩300,000, plus VAT if applicable. Agree on the fee before signing.

Official sources

• Immigration Act, Article 36 (change of residence)
• Supreme Court decision, 13 Oct 2016, on foreigners and tenant protection
• Easy Law: tenant protection, opposing power and priority repayment

This is general information based on public laws and government pages, not legal or tax advice. Rules can change, so confirm with the agency concerned. Spotted a mistake? Tell us