Jeonse → monthly rent
Korean landlords can convert part of a jeonse deposit into monthly rent, but the law caps the conversion rate at the Bank of Korea base rate plus 2 points. This shows the maximum rent.
KRW
KRW
%
How it works
Rent = (old deposit − new deposit) × rate ÷ 12. Under the Housing Lease Protection Act the rate cannot exceed the lower of 10% and the base rate + 2 points.
The cap applies to conversions during an existing lease. New leases are negotiated freely, where market rates of 5–7% are common.
Assumptions
- Base rate from input (default 2.5% as of Sep 2026)
- Shows the legal cap; market conversion rates may differ
FAQ
What is jeonse?
A Korean lease where the tenant pays a large refundable deposit (often 50–70% of the home's value) instead of monthly rent. The deposit is returned in full at the end of the lease.