SGI Seoul Guarantee Jeonse Deposit Insurance
Private insurance that protects high-value jeonse leases exceeding HUG's cap (₩300M in the metro area). Apartments are covered in full with no ceiling.
💡 For an apartment jeonse over ₩300M, HUG simply says 'over the limit.' SGI has no cap on apartments — the only realistic option for high-value jeonse.
What the ads say
Just get any jeonse guarantee through HUG — all guarantors are the same.
How it actually works
SGI's premium rates are higher than HUG's at 0.229%/yr for apartments and 0.260%/yr for other housing, but apartments are insured for the entire deposit with no cap, and non-apartment housing is covered up to ₩1B (as of 2026). Discounts of 30% apply at LTV 50% or below and 20% at 50–60%. Requirements include a contract handled through a licensed agent plus a completed move-in report and fixed date stamp, with new enrollment before the first half of the lease term passes.
⚠ Traps
- •Premiums are higher than HUG's — if you fit within HUG's cap, HUG is cheaper, so SGI only makes sense for high-value jeonse.
- •Non-apartment housing is capped at ₩1B and faces stricter underwriting.
- •Check with each local government whether the premium-support programs (full coverage for youth, 90% for general tenants) also apply to SGI.
✓ Good for
- · Tenants in high-value apartment jeonse with deposits over ₩300M
- · Renters rejected by HUG for exceeding its cap
✗ Not for
- · Tenants whose deposit is within HUG's cap (₩300M in the metro area) — HUG is cheaper
- · Low-income tenants for whom the premium is a heavy burden
Verification score (rubric)
- Real cash savings
- Ease of conditions
- No traps
- Clear audience
- Validity
- Accessibility
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