Home › Free tools › Jeonse ↔ wolse conversion calculator
Jeonse ↔ wolse conversion calculator
Free jeonse to wolse calculator for Korea: convert deposit to monthly rent and back using the conversion rate (전월세전환율). 2026 legal cap 5.00% (base rate 3.00% + 2%p).
Legal cap for converting an existing lease: Bank of Korea base rate (3.00% since Oct 2026) + 2%p = 5.00%. Market rates for new leases are often 4–7%; check the area's rate on the MOLIT real-transaction site.
What is the jeonse–wolse conversion rate (전월세전환율)?
Korean leases trade deposit against rent. Jeonse (전세) is a large deposit and no monthly rent; wolse (월세) is a smaller deposit plus monthly rent. The conversion rate says how much yearly rent equals 1 KRW of deposit: at 5%, lowering the deposit by 100,000,000 KRW adds about 416,667 KRW a month in rent.
The legal cap
If a landlord converts part of an existing deposit into rent during or on renewal of the lease, the Housing Lease Protection Act Enforcement Decree (Art. 9) limits the rate to the lower of 10% or the Bank of Korea base rate + 2 percentage points. With the base rate at 3.00% (held on 22 Oct 2026, BOK), the cap is 5.00%. New contracts are freely negotiated, so compare listings in the same building.
Which is cheaper for me?
Compare the monthly rent to what the extra deposit would earn or cost you. If you would borrow the deposit at 4.5% interest, a 5% conversion makes wolse slightly more expensive than jeonse; if your money earns only 2.5% in a deposit account, jeonse saves money—but carries the risk of not getting a large deposit back. Read our deposit-protection guide before signing.
FAQ
What is the jeonse to wolse conversion rate in 2026?
For converting an existing lease the legal cap is the Bank of Korea base rate plus 2 percentage points: 3.00% + 2% = 5.00% as of October 2026. New leases are negotiated and often use 4–7%.
How do I calculate monthly rent from a jeonse deposit?
Monthly rent = (jeonse deposit − new deposit) × conversion rate ÷ 12. Example: (300M − 50M) × 5% ÷ 12 ≈ 1,041,667 KRW.
Can foreigners rent on jeonse?
Yes. Foreigners with an ARC can sign jeonse or wolse leases and should complete the move-in report and fixed date to protect the deposit.
Related guides
Protecting Your Jeonse or Wolse Deposit in Korea: A Foreigner's Checklist
Protect a Korean rental deposit as a foreigner: registry check, address report, 확정일자, HUG deposit guarantee, lease registration order.
Visa & ImmigrationKorea Admin Cheat Sheet for Foreigners: 1345, Address Changes, Lost ARC, Re-entry, Leaving
Deadlines and hotlines for foreigners in Korea: 15-day address report, 14-day lost-ARC reissue (35,000 KRW), re-entry rules, departure checklist.
More free tools
Korea take-home pay calculator (2026)
Net monthly pay after pension, health, care, employment insurance and income tax.
Free toolKorean name romanizer (Hangul → English)
Write a Korean name in English using the official Revised Romanization rules.
Free toolKorean age calculator
International age (만 나이), year age and traditional Korean age in one click.
Free toolNHIS premium calculator for foreigners (2026)
Estimate your monthly Korean health insurance bill as an employee, student or regional subscriber.
Free toolKorea visa & ARC document checklist
Printable document list for ARC registration, visa extension, address change or reissue.