South Korean Nine-to-fivers; it takes five years and two months to save enough deposit to rent a (1173 sq. ft) place in Seoul

There are two different types of apartment rentals in Korea. One is monthly renting method, and other is paying large sum of deposit to lease a place. Leasing is a more popular method for families.
It is very hard to own a place, and it is too pricy for regular salaried workers.
According to research of real estates, it takes five years and two months to lease a place in Seoul with salary of Korean nine-to-fiver. To lease a place in KangNam-gu (a county that has highest average incomes in the nation) for middle class family, it takes eight years and nine months.

Five Counties in Seoul with highest Average leasing Payment
1.KangNam-gu: 426 million won (394,086 USD)
2.SongPa-gu: 379 million won (350,496 USD)
3.YongSan-gu: 321 million won (296,848 USD)
4.SuhCho-gu: 310 million won (287,042 USD)
5.GwangJin-gu: 295 million won (273,120 USD)

If average spending and loan payment are excluded from average salary, it takes average of 24 years and 6 months to lease a place in Seoul.

(아주경제 권지혜 기자)

Park Sae-jin swatchsjp@ajunews.com