Wolse (월세) System
Wolse is more similar to traditional rental systems, involving a smaller deposit and monthly rent payments.
Key Features
- Deposit Range: Can be as low as 500 USD to 50,000+ USD2
- Monthly Rent: Typically 100 to 1000+ USD2
- Common Ratio: Often 10:1 (e.g., 50 million KRW deposit, 500,000 KRW monthly rent)
- Typical Monthly Rent: 500,000 - 1,500,000 KRW for a 1-2 bedroom in Seoul
Additional Costs
- Maintenance Fees: Usually extra, around 100,000 - 200,000 KRW monthly
- Utility Costs: Expect 50,000 - 150,000 KRW monthly depending on usage
Advantages
- Lower upfront cost compared to Jeonse
- More flexible for short-term stays or those with limited savings
Considerations
- Monthly rent can be a financial burden
- Less stability, as landlords may increase rent or terminate contracts more easily5
Comparison Table: Jeonse vs Wolse
| Feature |
Jeonse |
Wolse |
| Upfront Cost |
High (50-80% of property value) |
Lower (varies) |
| Monthly Payment |
None |
Rent + Utilities |
| Contract Length |
2 years (renewable) |
Varies |
| Financial Risk |
Deposit loss if landlord defaults |
Regular rent payments |
| Flexibility |
Less flexible |
More flexible |