Korea is an excellent destination for anyone wanting to experience unique food, advanced infrastructure, and a vibrant city life. Renting is arguably the most popular option among both foreigners and citizens. The low cost of renting further makes Korea an ideal place to settle down.
That said, finding a rental apartment in Korea is not a walk in the park. Language barriers, unique rental terms, and legal procedures make the process more difficult. This guide will provide some clarity.
Here’s everything you need to know about renting an apartment in Korea:
Terms to Know Before Renting
Unpacking rental advertisements is the first thing you need to do. But first, it’s a good idea to have a few Korean rental terms under your belt. Here’s a list of common terms and what they mean:
Jeonse – full rent. This is a large payment you make up front instead of monthly payments
Wolse – monthly rent
Wollum – one-room apartment
Pyeong – a traditional Korean living unit. It is equivalent to about 3.3 square meters or 35.5 square feet
Cheungsu – floor number
Gwanlibi – the maintenance fee for the apartment. It includes security and cleaning of shared areas
Budongsan – real estate agency
Types of Apartments You Can Rent
Now that you know some basic terms of renting in Korea (韓國租房), let’s understand the different types of apartments in Korea. Here’s a brief breakdown:
Officetels
It is a unique Korean housing option, especially for singles and young professionals. Officetels are studio or one-bedroom apartments in mixed-use buildings that combine residential and commercial spaces.
One-room apartments (wollum)
A Wollum is a studio apartment that combines a bedroom, kitchen, and bathroom into one room. These are common among university students and single professionals.
Multi-room apartments
These are larger units with separate rooms for living, cooking, and working. Working professionals with families often prefer multi-room apartments due to their spaciousness and convenience. They are also located close to gyms, playgrounds, and other amenities.
Serviced apartments
These are fully-furnished apartments and are excellent for both short- and long-term stays. A serviced apartment ensures hotel-like amenities. You get room service, a front desk, and even community areas to ensure comfortable living.
How to Rent an Apartment in Korea
Follow these steps to find an appropriate apartment in Korea for your needs:
Find real estate agencies
The first step is finding an apartment. Reach out to real estate agencies and share your requirements. Real estate agents have access to numerous listings and can help you navigate the process.
You can also leverage expat communities and get recommendations through Facebook groups and forums like Reddit’s r/Korea.
Visit different apartments
If possible, visit the apartments and accommodations in person before making any commitments.
Prepare the necessary documents
Once you’ve finalized an apartment, submit the necessary documents to get the lease process started. You will need to submit your passport, proof of income, and bank statements.
Sign the lease
Discuss with your landlord a suitable lease type. This could be jeonse (full rent) or wolse (monthly rent). Carefully review the agreement before signing.
Register your lease
Within 14 days of moving in, register your lease at your local community center (Jumin Center).
