Jeonse to Monthly Rent Calculator
Convert Korean deposits both ways, apply the 2026 statutory ceiling in the right contract context, and check a landlord’s quoted rent.
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Enter Korean lease amounts in KRW 10,000 units for an instant, legally scoped conversion.
Saved in this browserConversion result
The entered 6.00% exceeds the 5.00% statutory ceiling, so the calculation was capped at 5.00%.
Calculation basis
(300,000,000 KRW − 100,000,000 KRW) × 5.00% ÷ 12 = 833,333 KRW/month
Ceiling = min(10% a year, Bank of Korea base rate 3.00% + 2 percentage points) = 5.00% · base rate effective August 27, 2026 · verified October 27, 2026
Check the quoted terms
For an existing or renewed lease, the quote is 166,667 KRW per month above the ceiling. Article 10-2 permits a tenant to claim repayment of excess rent already paid.
How to use
- Choose Jeonse → monthly or Monthly → jeonse.
- Enter the deposit and rent amounts in units of KRW 10,000.
- For jeonse → monthly, choose whether this changes an existing or renewed lease or prices a new contract.
- Enter an annual conversion rate and review the amount and rate used immediately.
- Optionally enter a landlord’s rent quote to see its implied rate and any excess over the statutory ceiling.
How to convert jeonse to monthly rent and back
For jeonse → monthly, use (current jeonse deposit − new deposit) × annual conversion rate ÷ 12. Reducing a KRW 300 million jeonse deposit to KRW 100 million converts KRW 200 million. At 5.00%, annual rent is KRW 10 million and the whole-won monthly ceiling is KRW 833,333 after rounding down so it does not exceed the cap. For monthly → jeonse, use monthly-rent deposit + monthly rent × 12 ÷ conversion rate.
Korea’s statutory conversion ceiling is 5.00% in 2026
Article 7-2 of the Housing Lease Protection Act and Article 9 of its Enforcement Decree set the ceiling at the lower of 10% a year or the Bank of Korea base rate plus 2 percentage points. The Bank of Korea raised the base rate to 3.00% effective August 27, 2026, so the ceiling verified October 27, 2026 is min(10%, 3.00% + 2%p) = 5.00%. Official sources: Korean Law Information Center, Housing Lease Protection Act (effective January 2, 2026) and Enforcement Decree (effective July 1, 2026; the 2% provision took effect September 29, 2020); Bank of Korea Monetary Policy Decision dated August 27, 2026.
When the legal ceiling applies
The ceiling governs conversion of all or part of an existing residential deposit into monthly rent, commonly during a lease or at renewal. It does not automatically price the deposit and rent first agreed in a new lease, and the statute does not cap the reverse monthly → jeonse estimate. The calculator therefore caps only existing-or-renewal jeonse → monthly calculations; new contracts and reverse comparisons retain the rate you enter.
Reverse-calculate a landlord’s rent quote
A quote’s implied rate is monthly rent × 12 ÷ converted deposit × 100. A proposal to change KRW 300 million jeonse into a KRW 100 million deposit plus KRW 1 million monthly rent implies 6.00% on the KRW 200 million difference. That is KRW 166,667 per month above the 2026 existing-lease ceiling of KRW 833,333. Article 10-2 permits a tenant to claim repayment of rent paid above the Article 7-2 ceiling, but the dates and form of an individual contract still matter.
Frequently asked questions
What is Korea’s legal jeonse-to-monthly conversion rate in 2026?
The ceiling verified on October 27, 2026 is 5.00% a year. It is the lower of 10% and the Bank of Korea base rate of 3.00% plus 2 percentage points. The 3.00% base rate took effect on August 27, 2026; a later base-rate change would also change the ceiling.
How much rent is a KRW 300 million jeonse with a KRW 100 million deposit?
The converted portion is KRW 200 million. At the 2026 statutory ceiling of 5.00%, KRW 200 million × 5% ÷ 12 equals KRW 833,333.33, so the whole-won monthly ceiling is KRW 833,333 after rounding down.
Does the statutory conversion ceiling apply to a new Korean lease?
Article 7-2 limits conversion of an existing deposit into monthly rent, such as a change during the lease or at renewal. It does not automatically set the initial deposit and rent in a new contract. For a new lease, 5.00% can be a negotiation benchmark rather than an automatic price limit.
Is the 5% ceiling mandatory when converting monthly rent back to jeonse?
No. Monthly → jeonse is a comparison calculated as deposit + monthly rent × 12 ÷ conversion rate. Article 7-2 limits deposit → rent conversion, so enter the market or negotiated rate you want to use for the reverse estimate.
Can a tenant recover rent paid above the legal conversion ceiling?
Article 10-2 of Korea’s Housing Lease Protection Act permits a tenant to claim repayment of rent paid above the Article 7-2 conversion ceiling. Whether the ceiling applies depends on the date and form of the individual lease change, so the contract facts should be checked.
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Updated 2026-10-27