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Korea has many types of residences such as individual houses, villas, tenement houses, and apartments. Most housing complexes in Korea do not come furnished, and damages to the residence during the lease period must be compensated by the tenant.

Individual house

	This is a house built on selected land for a single family. Each house has its own private gate and garden. Many foreign workers in Korea choose to rent a house
	and live together. The house owner receives a security deposit and monthly rent from tenants.

Villa

This is a type of common housing where many individual living quarters exist in a single building. Each living quarter has its own bedroom, kitchen, and bathroom, and separate heating as well. Tenants can pay in the form of monthly rent or Jeonse (long-term rent).

Tenement house

	This type of housing is similar to individual house in that it is built on private property, but the purpose is to create a tenancy. These houses cannot have more then 4
	stories and at least one side of individual tenements within the complex will meet another tenement. In a strict sense, it is different from apartments in that each household has its own private yard. Tenants can pay in the form of monthly rent or Jeonse (long-term rent).

Apartment

Apartments have become the most common type of housing in Korea because it efficiently utilizes the country's limited land space. The whole complex (including playground and park) is shared and jointly managed by occupants except for individual flats.Apartments are usually bought by occupants, but Jeonse (long-term rent) is possible and there are apartments for rent as well.

Entering into a lease

Tenants must conclude a lease agreement with house owners before moving into a house. Housing contracts are usually made through real estate brokers (for a certain fee), but tenants can directly negotiate with house owners if desired. Recently, real estate listings in newspapers and on the internet have become popular sources of information. However, most foreigners find concluding a housing contract a complicated task, so they seek the help of Korean acquaintances.

Jeonse (Long-Term Rent)

This is a type of housing agreement where the tenant pays a Jeonse deposit in advance to cover the rent during the lease period. The Jeonse period is two years by law, but in many cases the contracting parties choose to rent only one year. The tenant gets back his/her Jeonse deposit when the lease expires.

Monthly Rent

This is a payment system where tenants lay down a security deposit at the beginning of the contract and pay rent to the owner each month. The monthly rent is not returned, but the security deposit is returned when the lease expires. However, if a tenant fails to pay his/her monthly rent, the house owner will collect the unpaid rent from the security deposit.

Things to remember

	Check the register document before signing a contract: Always check the register book (deunggibudeungbon) of the property to see if it is under provisional seizure or provisional registration and make sure it is not an encumbered real estate. The register book can be obtained at the registration office of jurisdiction.
	The agreement must be concluded with the owner listed in the register book. Any housing agreement concluded with a lessor and not the original owner is not protected by law and can be made void.
	Double check the contract: Check to see if the name, address, contact number, and signature of the lessor,lessee, and broker are correct, and confirm the total payment amount and method of payment, along with schedules and dates.
	Check the utilities before entering into the agreement: Before moving into the house, check if water, electricity, and heating are operational, and decide with the owner on how taxes and utilities will be paid.
	Receive a confirmation date stamp (hwakjeongiljain) after signing the contract: Submit your Resident Registration Certificate and contract to the registration office of jurisdiction and receive a confirmation date stamp. The stamp is also granted by the Dong Office at the time of moving-in notification. Personal identification and housing contract are required for this process.

Real Estate Brokerage Fee

Real estate brokerage fees are applied differently according to the type of transaction such as purchase or rent, and the price of the deal. However, there is a ceiling on the amount of commission an agent can request.

Useful Information - The unit to measure floor space in Korea is "pyong." (1pyong = 3.3058㎡) - In most cases furniture is not included with the house. Furniture can be purchased cheap   at local recycle centers (secondhand). - Normally shoes are not allowed inside the house and must be taken off at the entrance. - The leasing period for housing is usually two years, but this period may be shortened   upon agreement. - Before moving out, the occupant should notify the owner of the house at least 1~2   months before leaving to receive the security deposit without any complications. - The actual date of moving can be different from the maturity date on the contract to   provide convenience to the parties moving in and out. - The services of professional movers are usually solicited when moving. For a certain   fee, movers will take care of everything from packing to unloading.