Jeonse to Monthly Rent Calculator — Korea’s Legal Conversion Rate
Last verified: 13 September 2026 · Figures follow Korean law and official rates; confirm the current rate at the linked source.
When a landlord turns part of a jeonse (전세) deposit into monthly rent, or wolse (월세), Korean law limits the rate they can use. The calculator above converts in either direction and shows how the rate compares with that limit. It opens with example figures, so replace them with your own.
How it’s calculated
Jeonse to monthly rent: take the part of the deposit being converted (the jeonse deposit minus the deposit you keep), multiply it by the annual conversion rate, and divide by 12.
Monthly rent to jeonse: multiply the monthly rent by 12, divide by the rate, and add the deposit you already pay.
The rate is capped at the lower of 10% a year or the Bank of Korea base rate plus 2 percentage points (Housing Lease Protection Act, Article 7-2, and its Enforcement Decree, Article 9). The Bank of Korea raised the base rate to 3.00% on 27 August 2026, which puts the cap at 5.0%, and the calculator starts there. Check the current base rate before you rely on either figure.
Who this applies to
The Act covers leases of homes, and the cap doesn’t depend on the tenant’s nationality. It matters most when you renew a lease and the landlord wants to move you from full jeonse to a smaller deposit plus rent (often called ban-jeonse), or when you compare listings priced both ways.
A lease term that breaks the Act to the tenant’s disadvantage has no effect (Article 10), and rent paid above the cap can be claimed back (Article 10-2). The cap covers turning deposit into monthly rent; for the reverse, treat the calculator’s figure as a reference point for negotiation. For how jeonse works and how to protect your deposit, see our guide to jeonse.
Worked example
The default inputs convert a ₩200,000,000 jeonse deposit into a ₩50,000,000 deposit plus monthly rent, at the 5.0% cap. The converted amount is ₩150,000,000, so the rent is ₩150,000,000 × 5.0% ÷ 12 = ₩625,000 a month, or ₩7,500,000 a year.
| Conversion rate | Monthly rent on ₩150,000,000 |
|---|---|
| 3.0% | ₩375,000 |
| 4.0% | ₩500,000 |
| 5.0% (the cap at today’s 3.00% base rate) | ₩625,000 |
| 6.0% | ₩750,000 |
| 7.0% | ₩875,000 |
In the other direction, the default is ₩500,000 a month of rent on a ₩50,000,000 deposit. At 5.0% the extra deposit is ₩500,000 × 12 ÷ 5.0% = ₩120,000,000, for a total jeonse deposit of ₩170,000,000 (about 170 million won).
Where to check
- Bank of Korea: the current base rate. Add 2 percentage points to get the cap, up to 10%.
- Enforcement Decree of the Housing Lease Protection Act, Article 9 (English translation): the 10% ceiling and the 2-point margin.
- Housing Lease Protection Act, Articles 7-2, 10 and 10-2 (English translation). The Korean text on law.go.kr is the official version.
Frequently asked questions
What is the legal jeonse-to-monthly-rent conversion rate in Korea?
It is capped at the lower of 10% a year or the Bank of Korea base rate plus 2 percentage points (Enforcement Decree of the Housing Lease Protection Act, Article 9). Check the current base rate at the Bank of Korea and add 2.
How much monthly rent is ₩150 million of jeonse deposit worth?
At the current 5.0% cap, ₩150,000,000 × 5.0% ÷ 12 = ₩625,000 a month. At 4.5%, the cap before the August 2026 rate rise, it was ₩562,500. Each percentage point on the rate adds ₩125,000 a month on that amount.
What can I do if my landlord uses a rate above the cap?
Lease terms that break the Housing Lease Protection Act to the tenant’s disadvantage have no effect, and rent paid above the cap can be claimed back (Articles 10 and 10-2). Ask the landlord to recalculate at the legal rate. If you can’t agree, apply to the Housing Lease Dispute Mediation Committee.