Korea Jeonse to Wolse Conversion Calculator (전월세 전환율)
Convert between Jeonse lump-sum deposit and monthly Wolse rent under Housing Lease Protection Act Article 7-2 statutory interest rate ceilings.
🏠 보증금 및 전환율 설정 (Jeonse / Wolse Inputs)
법정상한: 기준금리 + 2.0%
주택임대차보호법 제7조의2 법정 상한 요율 내 적정 월 임대료입니다.
전월세 전환 산출 명세 주택임대차보호법 시행령
| 항목 (Item) | 산출 공식 (Formula) | 금액 (KRW ₩) |
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❓ 자주 묻는 법정 질문 (FAQ)
What is the statutory Jeonse-to-Wolse conversion rate cap in Korea?
Under Article 7-2 of the Housing Lease Protection Act (주택임대차보호법) and its Enforcement Decree, when converting a Jeonse deposit to monthly rent, the conversion rate cannot exceed the lower of: (1) 10% per annum, OR (2) The Bank of Korea base interest rate plus 2.0% (typically capping the rate between 5.0% and 5.5%).
What is the mathematical formula for converting Jeonse into Wolse?
Monthly Rent (월세) = `(Converted Jeonse Deposit Amount × Annual Conversion Rate) ÷ 12`. For example, converting KRW 100,000,000 at a 5.5% conversion rate yields `(100,000,000 × 0.055) ÷ 12 = KRW 458,333` per month.
How do you convert monthly Wolse rent back into a Jeonse deposit (reverse calculation)?
Converted Jeonse Equivalent = `(Monthly Rent × 12) ÷ Annual Conversion Rate + Base Deposit`. For example, a monthly rent of KRW 500,000 with KRW 20,000,000 deposit at 5.5% converts to `(500,000 × 12 ÷ 0.055) + 20,000,000 = KRW 129,090,909` total Jeonse value.
Does the statutory conversion rate cap apply to brand-new lease contracts?
The legal cap under Article 7-2 strictly applies when renewing an existing lease or when converting an existing Jeonse contract to Wolse during the tenancy term. For brand-new lease agreements with new tenants, conversion rates are subject to market consensus, though market rates rarely exceed statutory guidelines.
How does a tenant verify if their landlord is charging an illegal conversion rate?
Tenants can compare the contracted monthly rent against the statutory ceiling formula (BOK Base Rate + 2.0%). Any excess rent paid above the legal ceiling can be reclaimed through the Housing Lease Dispute Mediation Committee (주택임대차분쟁조정위원회) or civil restitution.
Engr. Muhammad Shahzad
Verified Korean Labor & Statutory Systems SpecialistChartered Systems Engineer and International Labor Policy Analyst. Specializing in computational labor standards under the Korean Labor Standards Act (근로기준법), 4 Major Social Insurances (4대보험), National Tax Service (국세청) withholding schedules, and Housing Lease Protection statutory architectures.