Korean Job Discussion Forums

[yunasy]

Saying I get a housing allowance from a job, how do I go about getting an apartment? Is there a large deposit? My Korean friend told me that a deposit could be equal to 10,000$. I find this hard to believe.

[vDroop]

Yep. Usually 5-10 thousand "key money" for a decent 1 room place. Of course there are exceptions depending on location, age and size of the place. My place right now only required 1 month up front, but it's tiny.

Really, if it's your first year in Korea I'd recommend a job that provides housing.

[etopkorea]

Believe it.

For a small place (monthly rent of about 400,000 - 600,000 won per month) the smallest deposit I've ever seen was about 5 million won (about $5,000). However, 10 million won is a very normal deposit for a one or two bedroom place.

If you don't have that kind of cash for the deposit, you'll probably have to take the free housing offered by your employer, or find someone who is looking for a roommate and is not asking for a deposit.

If you take the free housing from your employer, you should be able to save enough money the first year to pay the deposit on an apartment for your second year.

[morningsoju]

this all depends on where you live too.

in the middle of seoul would be 5k min to 10k. places like Ilsan, which is still a nice place, take 3k. the seoul apt would also be smaller and cost almost twice as much.

[furtakk]

i've seen 2-3 mill deposits, but the places are usually dumps. i have seen quite a few nice places that have a 5 mill deposit, but usually the rent is a lot higher (like 6-800K). 10 mill seems to be the standard for your average one-room/one-bed room/officetel.

[cdninkorea]

I lived in a one room my 2nd year that I found through a real estate agent myself. It was 1 million key money and 500,000 per month, but my window had a view of another wall and, because of this, very little sunlight. Also, this was in '06, so I'm sure even that place is more expensive now.

This year I had trouble finding a two bedroom place in Dongdaemun-gu (NE Seoul) for 20 million key money and 650,000 won per month in rent. Ouch!

[northway]

There are decent places in Itaewon and HBC for around 3 million, but generally you're going to be spending more than that.

[jammo]

Negotiate the price! it is usually done

Good luck

[FDNY]

[fustiancorduroy]

[judoka]

You do get the deposit/key money back when you move out, right? In other words, this money is not a gift to the landlord.

[fermentation]

[coralreefer_1]

As others said, it really all depends on where you live.

Others seem to be giving you prices in the Seoul area and its suburbs, but the original post lists no area of the country.

I currently have a very nice 3-bedroom place with plenty of sunlight, veranda, rooftop area for cookouts that noone uses, huge living room and kitchen (which is why i got the place even though I live alone) and thee deposit was only 3 million a month, with rent at 420,000.

This is outside of Daegu in a university area. (Yeungnam University)