If you're a foreigner renting a home in Korea, there's a high chance you’ll need to hand over a deposit of ₩10–₩100+ million (approx. $7,500–$75,000 USD). This is standard under Korea’s jeonse (lump-sum lease) and wolse (monthly rent + deposit) systems. But if the landlord defaults, disappears, or refuses repayment at the end of the lease, tenants can lose everything.
Korean citizens have some legal protections and access to public deposit guarantees (e.g., via HUG). Foreign residents usually don’t. Language barriers, administrative hurdles, and residency status often block access—leaving even long-term expats exposed to real financial risk.
After seeing too many renters burned, we built deposit insurance specifically for foreigners in Korea. It covers unpaid housing deposits in cases of landlord fraud, bankruptcy, or non-compliance. Applications are available in English, with support for Korean property verification (등록부등본), landlord confirmation, and claims.
We're not solving everything, but it's a start. Feedback from other global housing markets is welcome.
As someone who’s rented in Korea as a foreigner, this hits close to home. The deposit system is confusing even for locals, and the lack of accessible insurance or guidance in English makes it worse. Glad to see a product addressing that.
This is a smart move. Many foreign renters in Korea are exposed because the standard deposit amount is huge and the protections are weak or not in English. A tailored deposit insurance product for foreigners addresses a clear gap.
If you're a foreigner renting a home in Korea, there's a high chance you’ll need to hand over a deposit of ₩10–₩100+ million (approx. $7,500–$75,000 USD). This is standard under Korea’s jeonse (lump-sum lease) and wolse (monthly rent + deposit) systems. But if the landlord defaults, disappears, or refuses repayment at the end of the lease, tenants can lose everything.
Korean citizens have some legal protections and access to public deposit guarantees (e.g., via HUG). Foreign residents usually don’t. Language barriers, administrative hurdles, and residency status often block access—leaving even long-term expats exposed to real financial risk.
After seeing too many renters burned, we built deposit insurance specifically for foreigners in Korea. It covers unpaid housing deposits in cases of landlord fraud, bankruptcy, or non-compliance. Applications are available in English, with support for Korean property verification (등록부등본), landlord confirmation, and claims.
We're not solving everything, but it's a start. Feedback from other global housing markets is welcome.
Launch page → foreignerhome.com/en/insurance/deposit
As someone who’s rented in Korea as a foreigner, this hits close to home. The deposit system is confusing even for locals, and the lack of accessible insurance or guidance in English makes it worse. Glad to see a product addressing that.
This is a smart move. Many foreign renters in Korea are exposed because the standard deposit amount is huge and the protections are weak or not in English. A tailored deposit insurance product for foreigners addresses a clear gap.