Why is it So Hard for Foreigners to Rent Short-Term in Korea? (And How to Fix It)
You’ve booked your flight to Seoul. You’re excited to live like a local. But when you start looking for an apartment for just one or three months, you hit a wall.
"Why is the deposit $10,000?" "Why do they want a 2-year contract?" "Why won't the agent reply to my English text?"
The Korean rental market is unique and notoriously difficult for short-term foreign travelers. Here are the three main reasons why—and the simple solution.
1. The "Key Money" Culture (High Deposits)
In most countries, a security deposit is equal to one or two months' rent. In Korea, it’s a different game.
The Barrier: Even for monthly rentals (Wolse), landlords typically demand a massive deposit (Bo-jeung-geum), often ranging from 5 million to 20 million KRW ($4,000 - $15,000 USD). This creates a huge cash flow problem for travelers who just want to stay for a few months.
The LiveAnywhere Solution: We understand that holding thousands of dollars in a foreign landlord's bank account is scary. LiveAnywhere offers low or reasonable deposit options tailored for short-term stays, so you can keep your cash for traveling.
2. The "2-Year Standard" (Contract Duration)
The Korean real estate system is built around long-term stability.
The Barrier: The standard housing contract in Korea is 2 years (or sometimes 1 year). Landlords dislike short-term tenants because finding a new tenant every few months is considered a hassle and incurs frequent brokerage fees.
The Consequence: Foreigners are often forced into overpriced hotels or uncomfortable Goshiwons (tiny study rooms) because regular apartments won't accept a 1-3 month lease.
The LiveAnywhere Solution: Flexibility is our core value. Whether you need to stay for 1 month, 45 days, or 3 months, our platform is designed specifically for flexible terms without the long-term commitment.
3. The "ARC" & Banking Loophole
Even if you find a place, paying for it is another hurdle.
The Barrier: To sign a formal lease, you usually need an Alien Registration Card (ARC) and a Korean bank account for bank transfers. Most landlords do not accept credit cards. If you are a digital nomad or on a tourist visa, you physically cannot sign a traditional lease.
The LiveAnywhere Solution: No ARC? No Korean bank account? No problem.
Easy Payment: You can pay securely via global credit cards on our platform.
Verified Listings: You don’t need to navigate shady Craigslist ads or visit real estate agents who don't speak English. We bridge the gap completely.
Conclusion
The traditional Korean rental market wasn't built for global nomads—but LiveAnywhere was. We remove the high deposits, the rigid contracts, and the administrative headaches so you can focus on enjoying Korea.