Rent Conversion Calculator
Convert between Jeonse deposit and monthly rent using the conversion rate.
About This Tool
The Jeonse-Wolse Conversion Calculator converts between Korea's unique Jeonse (lump-sum deposit) and Wolse (monthly rent) systems. Enter a Jeonse deposit to find the equivalent monthly rent, or vice versa, using the official conversion rate. Essential for Korean renters comparing housing options.
How to Use
- Choose conversion direction: Jeonse to Monthly or Monthly to Jeonse.
- Enter the relevant amounts (deposit and/or rent).
- Adjust the conversion rate if needed (default 2.5%).
- Click Calculate to see the converted amounts.
Frequently Asked Questions
What is Jeonse?
Jeonse is a unique Korean rental system where tenants pay a large lump-sum deposit (typically 50-80% of the property value) instead of monthly rent. The landlord uses the deposit for investment income, and it is fully returned when the lease ends.
What is the Jeonse-Monthly conversion rate?
The conversion rate determines how Jeonse deposits translate to monthly rent. It is legally capped at the Bank of Korea base rate + 2 percentage points. As of 2026, the typical rate is around 2.5%.
How is monthly rent calculated from Jeonse?
Monthly Rent = (Jeonse Deposit - Monthly Rent Deposit) × Conversion Rate ÷ 12. Example: If Jeonse is ₩300M, deposit is ₩50M, rate is 2.5%: (300M - 50M) × 2.5% ÷ 12 = ₩520,833/month.
Which is better: Jeonse or monthly rent?
It depends on your financial situation. Jeonse requires a large upfront deposit but no monthly payments. Monthly rent requires less upfront capital but ongoing payments. Consider opportunity cost of the large deposit vs. monthly rent expenses.
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How It's Calculated
The conversion uses the Jeonse-Wolse conversion rate set by the government or agreed upon between landlord and tenant.
• Jeonse → Wolse: Monthly Rent = (Jeonse Deposit − Wolse Deposit) × Conversion Rate ÷ 12
• Wolse → Jeonse: Additional Jeonse = Monthly Rent × 12 ÷ Conversion Rate. Total Jeonse = Wolse Deposit + Additional Jeonse
The legal cap on conversion rate = Bank base rate + 3.5% (as per Housing Lease Protection Act). The calculator also shows the effective annual cost comparison including opportunity cost of the deposit.
⚠️ Disclaimer
The conversion rate used may differ from the rate agreed in your actual lease contract. Legal cap rates change with the Bank of Korea base rate. This tool is for comparison purposes only and does not constitute legal advice.
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Understanding Jeonse-Monthly Rent Conversion: 2026 Rates and Practical Guide
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2026-03-23Jeonse vs Wolse: Understanding Korean Housing Costs & Which Is Better 2026
Learn the difference between Jeonse (lump-sum deposit) and Wolse (monthly rent) in Korea. Understand conversion rates, opportunity costs, and which option saves you more in 2026.