Jeonse (전세) is a large deposit and no monthly rent. Landlords and tenants still compare it with wolse (월세) using a yearly conversion rate. Monthly ≈ jeonse × rate ÷ 12. The rate is yours to set — typical private talk is 4–7%, and that is not a statutory figure.
Monthly equivalent833,333
Jeonse equivalent200,000,000
Implied annual amount10,000,000
How this calculation works
Jeonse → monthly: treat the deposit as principal. Annual cost ≈ deposit × conversion rate. Divide by 12 for a monthly equivalent.
Monthly → jeonse: jeonse ≈ monthly × 12 ÷ rate. A ₩1,000,000 wolse at 6% is about ₩200 million jeonse.
The conversion rate is a market/negotiation input, not a law. Korea also has a separate legal cap on how fast a landlord may convert jeonse to wolse under the Housing Lease Protection Act — that cap tracks the Bank of Korea base rate plus a spread and is not what this box defaults to.
Use the same rate on both sides of a comparison. Mixing 4% one way and 7% the other invents a bargain that does not exist.
Worked example
₩200 million jeonse at 6% → ₩12 million a year → ₩1 million per month. Reversing ₩1 million monthly at 6% returns ₩200 million jeonse. At 4% the same deposit is only ₩666,667 a month.
Frequently asked questions
What conversion rate should I type?
There is no official “right” rate in this calculator. Private listings and brokers often talk in the 4–7% range. Type the rate in your offer or the rate your counterparty used, then see the monthly. Do not treat the default 5% as a government number.
Is this the legal 전월세전환율?
No. The statutory ceiling for converting a jeonse contract into monthly rent is a different rule (Housing Lease Protection Act / related decrees), usually tied to the Bank of Korea base rate plus a published spread. This tool is a simple deposit × rate ÷ 12 comparison.
Why do some ads show 4% and others 7%?
A higher rate makes jeonse look more expensive versus wolse (good for a landlord pushing monthly). A lower rate makes jeonse look cheaper. Always ask which rate they used.
Does this include maintenance (관리비)?
No. 관리비, parking, and utilities sit on top of both jeonse and wolse. Add them separately when you compare total monthly outflow.
What about jeonse loan interest?
If you borrow the deposit, your real cost is the loan rate, not this conversion rate. Compare loan interest with wolse; this calculator does not model 전세자금대출.
Can I convert a mixed 보증금+월세?
Convert the remaining jeonse-like deposit at your rate and add the existing monthly. The formula here is one lump deposit or one monthly, not a hybrid contract.