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If you are a corporate executive with a high budget and you want to rent an apartment in Seoul, I believe there are three types of rental agreements: (a) - JEONSE/CHONSEI (‘KEY MONEY DEPOSIT’) (b) - WOLSE (Monthly Payment + Deposit) (c) - KALSE (FULL PAYMENT UP FRONT) Expats are normally barred from the Jeonse and Wolse options and are only able to rent on Kalse terms. Is this statement true? In order to protect their pre-payment of the full 24 months most people using the Kalse option will opt for a Keun Mortgage Registration. Is this statement true? What is the cost of a Keun Mortgage Registration and is there any an alternative to protect the Lessee?
Advice welcome. Thank you.