General Information

Renting an apartment or room in Korea is a bit different from most systems that adoptees are familiar with in the western world.  The following are some descriptions to help you familiarize yourself with the types of rental methods, as well as commonly available housing if you're planning on living in Korea. 


Terms (you should know before renting in Korea!)

Pyung (평 - pronounced "pyung")
The unit of measurement most often used in Korea to determine area.  One pyung is the equivalent of 3.3 sq. meters.

Real Estate Agency (부동산 - pronounced "boo-dong-san")
If you're thinking about renting property in Korea, a real estate agency stop is usually a must.  They're located in just about every area of Seoul as real estate as investment property has become quite popular in Korea over the past 10 years.  It's recommended that you bring a Korean friend or G.O.A.'L volunteer with you when going to a real estate agent, especially if you don't speak Korean - as most speak hardly to no English.

Key-money or Deposit-money (보증금 - pronounced "bo-jeung-geum")

Similar to Western countries, many rental properties require that a renter pay a deposit on the apartment along with signing a lease.  However, unlike Western countries, in Korea, this "key-money" (or deposit) usually runs anywhere from KRW1,000,000 upwards to KRW20,000,000 or more.  It should be noted that this key-money is returned to the renter after the lease term expires.  (The average person renting for a one or two-year term pays in key-money about the equivalent of US$5,000 to US$10,000, so expect to have some cash on hand, or someone who's willing to borrow you the money in Korea.) 

Okay, now that you understand key-money, it's on to the two types of actual rental methods commonly used in Korea:

1. Monthly Rent (월세 - pronounced "wol-sae")
These days Koreans and foreigners commonly pay rent on a monthly basis for a fixed term (one or two-year lease, sometimes month-to-month) along with putting down key-money.  As most adoptees come from Western countries, this type of monthly rental system should be familiar to you.  Average monthly rent will vary depending upon the size of the room or apartment, the location, if the building is new or old, included amenities and/or furniture, etc.  (The average person renting by monthly rent for a oneroom or officetel in Seoul can expect to pay KRW5,000,000 - 20,000,000 in key-money and pay KRW400,000 -  1,000,000 in rent.  This is an estimate, other situations may call for more or less money.)  

OR

2. Chunsae (전세 - pronounced "chun-sae")
In the recent past, and still sometimes today (especially for larger apartments of two bedrooms or more), property is available for rent by the chunsae method.  It's been said that this type of rental method is unique to Korea, and native Koreans are particularly accustomed to and take a liking to this kind of renting.  Chunsae can be summed up as paying a large amount of key-money (e.g. KRW50,000,000 or more for a oneroom or officetel) as a deposit/down payment, to be retained by the owner of the rental property for the duration of the lease, and then returned to the renter in it's entirety when s/he moves out of the apartment.  Unique to chunsae, the renter is not usually obliged to pay additional monthly rent on the apartment during the lease, though utilities are usually paid separately, as consumed, by the renter.  An owner of a property usually makes money off the accumulated interest earned of the key-money through investments or deposit into her/his bank account.


Types of Housing available in Korea

Boarding House (aka 하숙집 - pronounced "ha-sook" in Korean)
Renting a room at a "ha-sook" usually implies simply that you rent you're own room, but share facilities such as a bathroom, common kitchen/eating area, as well as possibly a common living room area.  Ha-sooks can are generally found around universities where students generally reside.  They are very popular with Korean and foreign students as there is usually not much, if any at all, key-money involved.  Monthly rent is usually paid in advance, at the beginning of each month.  Sometimes the landlord provides breakfast and dinner, and the price for this food can either be included or excluded from the monthly rent as decided upon by the boader.  (Average monthly rent ranges from KRW300,000 - 500,000 in Seoul)

Pros: Rent on a month-to-month basis with little committment necessary and no contract necessary, little or no key-money, convenient locations if studying at a university.
Cons: Rooms can be small and/or old, if staying long-term - not usually recommended.


Oneroom (aka 원룸 - pronounced "one-room" in Korean)
A oneroom is similar to a studio apartment in the US, is that it has no separate bedroom, just one living space that incorporates a kitchen (kitchenette) into the same space.  The bathroom is normally a separate room, but with the exception of possible closet space and/or veranda, it's basically - as the name implies - one room.  Onerooms are normally rented on a one to two-year basis.  Depending on the owner they can be rented via Monthly Rent or Chunsae.  A typical oneroom is 6-12 pyung and renters often have to furnish their own onerooms and usually should supply their own appliances, e.g. washer, gas range, air conditioner, refrigerator, etc.  Onerooms are often located in villas (see below) or other similar three to six-story buildings.   (Average monthly rent ranges from KRW400,000 - 800,000+ and require a key-money of 5-20 million won in Seoul)


Officetel (aka 오피스텔 - pronounced "oh-pi-su-tel" in Korean)
An officetel is somewhat similar to a oneroom in terms of size and living space.  Offictels usually are located in buildings having many stories - e.g. 10+.  Officetels often come with "full option" which means that the appliances are included in the rental unit.  Typically sizes range from 10-20 pyung for a single room officetel.  Some offictels have more than one room or a loft-area for a separate sleeping area.  The advertised area for an offictel is often divided into two different measurements - 1) includes parking space area, the space in hall outside the actual living space and actual living space; and 2) actual usable living space (which is usually 2/3 to 1/2 of the total area given in the #1 measurement).
(Average monthly rent ranges from KRW500,000 - 1,000,000+ and require a key-money of 5, 10 or 20million won in Seoul)

Pros: All appliances are usually included - meaning no need to have to buy and sell these items when moving in and out.  Most newer officetels have other facilities such as a gym and/or stores/restaurants located in the same building for convenience.
Cons: Tend to be relatively expensive for a small living space.  


Villa (aka 빌라 - pronounced "bee-lah" in Korean)

A villa is usually a four to six-story building housing several different units on each floor - sometimes these are onerooms on the lower levels, and as you go up the units become larger, e.g. two-bedroom units, etc. 


House (aka 주택 - pronounced "joo-tek" in Korean)


High-rise Apartment (aka 아파트 - pronounced "ah-pah-tuh" in Korean)
High-rise apartment buildings are most often referred to in the Korean pronunciation of "ah-pah-tuh", but often are written as APT.  These buildings dot the Seoul skyline as they are just about everywhere in the city and are a very common way of living for many city dwellers.  An APT can range in size from 15pyung - 80pyung+ on the luxurious side.  If not owned, they are most often rented by the chunsae method for a contract of at least 2-years, though some exceptions can be found.  Chunsae depends on the size/location of the APT.