Jeonse ↔ Monthly Rent Converter (Korea)

How it works

• Jeonse is a large refundable deposit instead of monthly rent; wolse is a smaller deposit plus monthly rent.
• Jeonse → monthly: (jeonse − new deposit) × rate ÷ 12. Monthly → jeonse: deposit + rent × 12 ÷ rate.
• The legal cap is the lower of 10% and the Bank of Korea base rate + 2%p — 5.0% with the base rate at 3.00% (changed 2026-08-27). This site checks the BOK rate daily. The cap applies when converting an existing lease; new leases are negotiated freely.

FAQ

How is jeonse converted to monthly rent in Korea?

Multiply the part of the deposit being converted by the conversion rate and divide by 12. At 5%, ₩200M of deposit becomes about ₩833,000 a month.

What is the legal jeonse-to-wolse conversion rate?

The lower of 10% and the Bank of Korea base rate plus 2 percentage points — currently 5.0%.