Finding Housing in Seoul with Only 1 Million Won Deposit

How Exceptional Is a 1 Million Won Deposit?

To understand just how special a 1 million won deposit is, let's look at the typical Seoul housing market:

Standard Seoul Studio Apartment (One-Room):

• Deposit (보증금): ₩5,000,000 - ₩20,000,000

• Average in decent areas: ₩10,000,000 - ₩15,000,000

• Monthly rent (월세): ₩500,000 - ₩800,000

• Real estate agent fee: ₩300,000 - ₩500,000

• Utility deposits: ₩200,000 - ₩300,000

• Typical total upfront: ₩10,000,000 - ₩20,000,000

With 1 Million Won Deposit Housing:

• Deposit: ₩1,000,000 only

• Monthly rent: ₩700,000 - ₩900,000 (all-inclusive)

• No agent fees required

• No utility deposits needed

• Total upfront: ₩1,700,000 - ₩1,900,000

You save ₩8,000,000 - ₩18,000,000 in upfront costs.

This is not a minor difference—it's transformational. A 1 million won deposit represents just 5-10% of what Seoul housing typically demands, making the city accessible to:

• Digital nomads and remote workers

• Students on language programs

• Working holiday visa holders

• Young professionals on temporary assignments

• Career break travelers exploring Asia

Unlike the 5-10 million won required for traditional rentals, 1 million won doesn't require months of saving or wiping out your emergency fund.

Best Housing Options with 1 Million Won Deposit

1. Modern Co-Living Spaces (Recommended)

Co-living has revolutionized Seoul's housing market for international residents, and many properties accept deposits of exactly 1 million won.

Deposit: ₩1,000,000

Monthly Costs:

• Private rooms: ₩600,000 - ₩900,000

• Premium locations: ₩900,000 - ₩1,200,000

• All-inclusive (utilities, WiFi, cleaning)

What's Included:

• Fully furnished private bedroom

• High-speed internet (100+ Mbps)

• Shared kitchen with appliances

• Common living areas

• Laundry facilities

• Weekly cleaning services

• Community events

Advantages:

• Exact 1 million won deposit requirement

• Professional property management

• English-speaking staff

• No furniture or utility setup needed

• Flexible month-to-month terms

• Instant international community

• Prime locations near transit

Best Neighborhoods:

• Hongdae: Creative, youthful atmosphere

• Gangnam: Modern, professional district

• Itaewon: International, diverse community

• Jongno: Historic center, excellent transit

• Sinchon: Student-friendly, affordable

Ideal For:

• First-time Seoul residents

• Those staying 1-6 months

• Remote workers and digital nomads

• Anyone seeking community and convenience

2. Premium Goshiwon

Higher-end goshiwon offer better facilities while maintaining affordable deposits.

Deposit: ₩500,000 - ₩1,000,000

Monthly Costs:

• ₩400,000 - ₩600,000

• Budget-friendly option

What's Included:

• Private room (6-8㎡)

• Bed, desk, and storage

• Shared or private bathroom

• Shared kitchen facilities

• Basic utilities included

• Some provide meals (rice, kimchi)

Advantages:

• Very affordable monthly rent

• Deposit within 1 million won range

• Central Seoul locations

• Immediate availability

• No long-term commitment

Considerations:

• Small room size

• Shared facilities

• Less privacy than co-living

• Minimal common space

Ideal For:

• Extreme budget consciousness

• Solo travelers

• Short stays (1-3 months)

• Those prioritizing location over space

Featured Property: Noden Jongno

An excellent example of what 1 million won deposit can get you in Seoul.

Why Noden Jongno Stands Out

Perfect 1 Million Won Deposit Noden Jongno's deposit is exactly ₩1,000,000—no need to negotiate or find additional funds. This removes the financial barrier while providing access to premium co-living.

Brand New Construction The building is newly constructed with modern amenities throughout. Everything is pristine—from the furniture to the appliances to the common areas. You're getting fresh, contemporary living spaces.

Prime Jongno Location Located in the heart of Jongno, one of Seoul's most central districts. The area perfectly blends historic Seoul charm with modern convenience:

• Traditional palaces within walking distance

• Historic markets and modern shopping

• Authentic Korean restaurants

• Contemporary cafes and coworking spaces

• Cultural sites and museums nearby

Exceptional Transit Access Just 3 minutes walk from the nearest subway station. This isn't just convenient—it's transformative for Seoul living:

• Quick commute to Gangnam (20 minutes)

• Easy access to Hongdae nightlife (25 minutes)

• Direct routes to Itaewon (15 minutes)

• Connected to all major Seoul districts

• No need to own a car

All-Inclusive Living Your monthly rate covers:

• Fully furnished private room

• High-speed internet

• Cleaning services

• Building maintenance

• Professional management

Transparent Pricing Your monthly rate covers your room and building amenities, with utilities billed separately based on actual usage. This straightforward pricing structure makes budgeting simple and fair.

Learn More: Visit Noden Jongno to explore available rooms, check current availability, and book your stay.

Start Your Seoul Journey

Finding housing in Seoul with just 1 million won deposit represents an exceptional opportunity that very few properties offer. Instead of the typical 10-15 million won required for standard studios, you can access quality modern accommodation for a fraction of the cost.

Ready to find your Seoul home?

Explore quality options like Noden Jongno—where 1 million won deposit gets you modern co-living in the heart of Seoul.

Your Seoul adventure awaits—and it's more affordable than you think.