🔁 Jeonse ↔ Monthly Rent Conversion Calculator
Convert between jeonse and monthly rent, or see how rent changes when you raise or lower the deposit — and check the legal conversion rate cap.
Semi-jeonse rent table
How to use
Pick a calculation. Jeonse → monthly rent is for when part of a jeonse deposit stays as the deposit and the rest becomes monthly rent. Monthly rent → jeonse shows what your current deposit and rent are worth as a jeonse. Change deposit shows how much rent moves when you raise or lower the deposit at renewal. The conversion rate defaults to the legal cap (5.0%); replace it with the landlord’s rate or the local market rate. The table below lists the rent for each deposit share (semi-jeonse, ban-jeonse) under the same terms.
Jeonse and wolse in 30 seconds
Jeonse (전세, lump-sum deposit lease) is a uniquely Korean lease: you hand the landlord a large deposit — often 50–70% of the home’s price — pay no monthly rent, and get the full deposit back when the lease (usually two years) ends. The landlord earns by investing the money. Wolse (월세, monthly rent) works like rent elsewhere but still with a security deposit, typically ₩10M–₩100M in Seoul. Most leases fall somewhere between, and the conversion rate (jeonwolse jeonhwanyul) is the annual rate used to swap deposit for rent.
Formulas
- Jeonse → rent
monthly rent = (jeonse deposit − monthly-lease deposit) × conversion rate ÷ 12 - Rent → jeonse
jeonse equivalent = deposit + monthly rent × 12 ÷ conversion rate - Change deposit
new rent = current rent − (new deposit − current deposit) × conversion rate ÷ 12 - Implied rate
conversion rate = monthly rent × 12 ÷ (jeonse deposit − monthly-lease deposit) × 100
Example: converting a ₩300M jeonse to a lease with a ₩100M deposit at 5.0% gives (₩300M − ₩100M) × 0.050 ÷ 12 = ₩833,333, about ₩833K a month. In reverse, a ₩100M deposit with ₩800K rent equals ₩100M + ₩800K × 12 ÷ 0.050 = ₩292,000,000, roughly a ₩292M jeonse.
Legal conversion cap (base rate + 2 points)
Article 7-2 of the Housing Lease Protection Act and Article 9 of its decree cap the rate used to turn all or part of a deposit into monthly rent at the lower of 10% a year and the Bank of Korea base rate + 2 percentage points. The base rate is now 3.00% (Monetary Policy Board decision of 27 August 2026), so the cap is 5.0% a year. When the base rate changes, the cap changes immediately — update the base rate box.
| Base rate | Legal cap | ₩300M jeonse → ₩100M deposit rent |
|---|---|---|
| 2.50% | 4.50% | ₩750K a month |
| 2.75% | 4.75% | ₩792K a month |
| 3.00% | 5.00% | ₩833K a month |
| 3.25% | 5.25% | ₩875K a month |
| 3.50% | 5.50% | ₩917K a month |
When the cap applies — and when it doesn’t
- Applies during the lease, or when you renew or exercise the right to request renewal and keep living in the same home while part of the deposit becomes rent. Rent above the cap is void, and you can reclaim any excess already paid.
- Does not apply to a new lease with a new tenant, which is freely negotiated — market rates are often above the cap.
- 5% renewal cap when you renew using the right to request renewal, the total increase is also limited to 5%, measured by converting rent into deposit with the conversion rate.
What is the market conversion rate?
The Korea Real Estate Board publishes monthly conversion rates by region and housing type based on actual contracts (R-ONE statistics). In recent years the nationwide housing rate has hovered around 5–7% a year: apartments are usually lower than villas, multi-family and detached houses, and Seoul and the capital region are lower than the provinces. To judge a landlord’s offer on a new lease, compare it with the latest figure for your area and housing type.
Tips for expats and foreign tenants
- Rent vs. a jeonse loan If the conversion rate is higher than the interest on a jeonse deposit loan, borrowing to raise the deposit usually costs less. At a 6% conversion rate and 4% loan rate, raising the deposit by ₩100M cuts rent by ₩500K a month while adding about ₩333K of interest. Foreign residents can get jeonse loans from some banks with an alien registration card and Korean income.
- Protect a large deposit The bigger the deposit, the bigger the risk of not getting it back. Check the property registry for prior mortgages, register your move-in (jeonip singo) and get a fixed date (hwakjeong ilja) on the contract, and see if HUG or HF deposit-return insurance is available.
- Monthly rent tax credit Eligible employees (no home, total pay ₩80M or less, among other conditions) can claim 15–17% of annual rent as a tax credit; foreign workers can qualify too.
- Maintenance fees are extra This calculation covers rent only. Compare offers on the same basis — with or without the monthly management fee (gwallibi).
This is a reference tool based on the conversion formula. The base rate defaults to the 27 August 2026 decision (3.00%); if it has changed since, check the Bank of Korea website and update the box. For actual lease terms and disputes, rely on the contract, the Housing Lease Dispute Mediation Committee or a lawyer.