[Survive & Thrive] Renting a home: Jeonse, wolse and everything in between
Hashtag KoreaApr 26, 2023
Navigating the rental market in South Korea requires understanding two key terms and their concepts: "Wolse" and "jeonse." Wolse, which means monthly rent, is self-explanatory: Tenants pay a deposit and the monthly rent to live in the residence. But the deposit is usually much higher than most other countries, conventionally equal to or more than 10-months' rent. A quick scope of the Cheongpa-dong area near Seoul Station showed that a studio of 22 square-meters cost 500,