Jeonse
Korean: 전세 · jeonse
A Korean lease where you pay a large lump-sum deposit and no monthly rent, and get the deposit back at the end.
In a jeonse lease you hand the landlord a large deposit (보증금) at the start and pay no monthly rent. When the lease ends, the landlord returns the full deposit.
Because so much money is at stake, protecting the deposit matters most: complete your move-in or change-of-residence report, take possession of the home, and get a fixed date (확정일자) on the contract. The Housing Lease Protection Act then gives you opposing power and priority repayment (Art. 3(1), Art. 3-2(2)).
A jeonse lease is different from a jeonse right (전세권), which is a property right under Article 303 of the Civil Act.
Legal basis
Housing Lease Protection Act (주택임대차보호법), Art. 3, Art. 3-2
Common questions
Q. Is jeonse cheaper than monthly rent?
A. It depends on the cost of the deposit money. Compare monthly rent with the interest on a loan for the deposit, or the savings interest you give up. The jeonse vs wolse calculator does this for you.
Q. Is a jeonse lease the same as a jeonse right (전세권)?
A. No. A jeonse lease is a lease protected by the Housing Lease Protection Act. A jeonse right is a separate property right under Article 303 of the Civil Act.
Explanations follow the current Korean statutes on the National Law Information Center (law.go.kr). Laws change, so check the original text before relying on it. This is general information, not legal advice. All terms