A foreign friend was looking at the contract and asked me. "There's no monthly rent, so why would the landlord make this contract?" In Korea, there is a type of contract called jeonse. One very big number is written on a single page of the contract. ## The Big Number on the Contract With jeonse, you don't pay monthly rent. Instead, you leave a large part of the home's price with the landlord as a deposit. After living there for about two years, when you move out, you get that money back in full. In other words, what you pay to rent the home isn't "the money itself" but "the act of leaving money with someone." ## Why doesn't the landlord lose out? The landlord can put the large sum they hold into a bank and earn interest. They can also use it to buy another home. That interest and those investment gains take the place of monthly rent. In the past, bank interest rates were high and housing prices rose often, so it was a good deal for both sides. The tenant had no money going out every month, and the landlord could put a large sum of money to work. These days, as interest rates change, many people choose monthly rent instead. ## Things You Must Keep in Mind If the landlord can't return the money on the promised date, it's a serious problem. So on the day you move in, report your move-in at the community service center right away and get a confirmation date stamped on your contract. There is also deposit guarantee insurance that protects your deposit. Conditions can change, so be sure to check with the Housing & Urban Guarantee Corporation or your nearest community service center.