jeonse Archives | Be Korea-savvy
Low-Income Bracket Drives Monthly Rent Growth

Low-Income Bracket Drives Monthly Rent Growth

SEOUL, Dec. 14 (Korea Bizwire) – Of the South Korean households that are renters, 60.5 percent utilize “wolse”, or monthly payment rental systems, boosted by a growing low-income bracket. According to the Korea National Council of Consumer Organizations, the percentage of households renting using “jeonse” – a key money deposit system usually requiring a lump-sum [...]

South Korean Home Ownership Reaches Record Levels

South Korean Home Ownership Reaches Record Levels

SEOUL, April 26 (Korea Bizwire) – Soaring rental prices in the housing market in recent years are seeing upper-middle class households purchase their own homes, with the home ownership rate reaching 56.8 percent, the highest figure since records began in 2006, according to a report released yesterday by the Ministry of Land, Transport and Maritime [...]

Seoulite Couple Needs 28.5 Years to Lease a “Jeonse” House

Seoulite Couple Needs 28.5 Years to Lease a “Jeonse” House

SEOUL, Oct. 30 (Korea Bizwire) – It takes 28.5 years for a newlywed couple to lease a “jeonse” apartment in Seoul, according to the Citizens’ Coalition for Economic Justice which analyzed data from Kookmin Bank, Statistics Korea and the Ministry of Employment and Labor. Houses in capital regions such as Gyeonggi Province and Incheon City take [...]