Jeonse Explained: Korea’s Wild Deposit Rental System
Three years ago, I signed a jeonse (전세, “key money”) lease on my apartment in Seongnam for 410 million won — roughly $300,000. I handed that entire amount to my landlord. Not as a down payment. Not as a purchase. Just to rent the place. Today, that same apartment’s jeonse deposit has climbed to 570 … Read more