Read 1418 times

  • tweeks12
  • Waygookin

    • 15

    • March 03, 2015, 05:52:14 pm
    • korea
Housing Deposit Every Year ?
« on: February 01, 2016, 03:39:02 pm »
I work in a public school for EPIK. my co-teacher said I would they would be taking 500K out of my next check to cover the housing deposit.

This is my second year in the same apartment , just wanted to know why would I have to put down another deposit ?

Is this a common thing ?


  • Lurch
  • Expert Waygook

    • 727

    • September 05, 2011, 08:31:17 am
    • Chungju
Re: Housing Deposit Every Year ?
« Reply #1 on: February 01, 2016, 03:40:48 pm »
If you are with EPIK and living in the provided housing, you should not be paying housing deposits at all that I'm aware of. Read your contract.


  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: Housing Deposit Every Year ?
« Reply #2 on: February 01, 2016, 03:45:11 pm »
I work in a public school for EPIK. my co-teacher said I would they would be taking 500K out of my next check to cover the housing deposit.

This is my second year in the same apartment , just wanted to know why would I have to put down another deposit ?

Is this a common thing ?
You only pay that once, when you first move in.

It's a security deposit to cover outstanding utility bills and/or damage, for it you do a runner.

Disregard.  She is wrong.


  • JNM
  • The Legend

    • 4088

    • January 19, 2015, 10:16:48 am
    • Seoul, South Korea
Re: Housing Deposit Every Year ?
« Reply #3 on: February 01, 2016, 05:45:51 pm »
Unless you change apartments,  no.


  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: Housing Deposit Every Year ?
« Reply #4 on: February 01, 2016, 05:50:35 pm »
What would changing apartments have to do with it?

After successfully moving out of your first place (no damage, etc.), they would simply apply that money to your new place or they could play give and take.

Either way, you wouldn't give more than 500,000, as it is most certainly isn't an annual thing.


Re: Housing Deposit Every Year ?
« Reply #5 on: February 02, 2016, 07:22:54 am »
As long as it hasn't changed, EPIK states in the contract that the school will withhold 600,000 won, taking 300,000 for each of the first two paychecks, in order to cover possible damages. That is what my past 5 contracts with EPIK said, however, I moved to to another school (not EPIK, but public) this year, so not sure if there is an update that I am unaware of. As another poster stated, that is taken out once, and should roll over.


Re: Housing Deposit Every Year ?
« Reply #6 on: February 02, 2016, 08:32:04 am »
I had 900,000 taken out of for security deposit...wish they would give me this with the 7 year interest!



  • afheil89
  • Veteran

    • 245

    • August 23, 2014, 12:41:16 pm
    • Seoul
Re: Housing Deposit Every Year ?
« Reply #7 on: February 02, 2016, 10:27:39 am »
Im with SMOE/EPIK. You only pay the security deposit your first year. You get it back when you leave. Each MOE might be different with the price of the deposit but with SMOE it was 500,000.
I teach, eat, and travel through Korea and write about it. http://www.ashleyheil.com


  • Hot6^
  • Hero of Waygookistan

    • 1759

    • March 14, 2014, 02:46:01 pm
    • Bucheon
Re: Housing Deposit Every Year ?
« Reply #8 on: February 02, 2016, 12:26:49 pm »
GEPIK it's a 900,000 won deposit, but yes regardless, if you are staying:

A: They give it back to you, and then you pay it again.

B: They Just carry it over and you don't pay again.
What you put into Korea, is what you will get out of Korea; it will not spoon feed you.