Korea’s housing system may be very different than what you’re used to in your own countries.
Make sure you know the types of housing, and how much money you’ll need.
The Jeonse is a real estate term unique to Korea that refer to the way rooms are leased(rented). You pay a big security deposit to the owner and he/she holds on this money for the duration of your contract and gives it back in full when you’re ready to move out. Instead, you don’t have to pay any additional monthly rental fee during your stay. You might not be familiar with the jeonse system but it is safe because your right as a tenant is guaranteed by law. The jeonse deposit varies depending on the location and the size of room(house).
It is most common type of private housing in Korea. You pay a security deposit which is far smaller than Jeonse’s and pay the monthly rent. If you can pay the more security deposit, you can save the monthly rent.
The costs can vary according to its location and size but the usual rent is $400 per month plus a security deposit of $3,000 ~ $5,000.
Essentially functional as a dormitory, you have your own closet-spaced room. Usually there’s free internet and TV, and sometimes even free rice and kimchi included starting at the very cheap price of 200,000 won a month (approximately $180 USD) without the security deposit you’ll need for the other housing options. It’s not very comfortable, but this is by far the cheapest option for those looking for a place to rent in.