As rent increases, students must decide whether to move away or give up

Leaflets about shared flats and private boarding houses are posted on a bulletin board near ChungAng University in Dongjak District, southern Seoul, on Sunday. [NEWS1]

Rising monthly rents for one-room accommodation in university towns is putting more financial burden on college students ahead of the spring semester.

According to real estate brokerage app Daebang, the average on-year November rent for one-rooms, or accommodation less than 33 square meters in size, was 70,000 won ($54.90) higher around Korea University, 60,000 won around Seoul National University and 72,000 won around Yonsei University. This is roughly a 10 percent increase considering that monthly rents were around the 500,000 won range.

Students who cannot afford the rising cost have no choice but to move.

Lee Ye-rim, a 26 year old Korea University student who lived close to the school, had to move farther away when the landlord told her that her monthly rent will increase to 570,000 won from 510,000.

"I lowered my standards to prioritize cheaper rooms far away to save money over my physical fatigue, because the rent fees rose in general," Lee said.

There are some students who choose to take the semester off.

"I have no choice but to take a semester off because I can't afford the higher deposit and monthly rent," said a college student who lives in Seodaemun District, western Seoul.

According to Higher Education in Korea, a website jointly run by the Ministry of Education and Korean Council for University Education, the average dormitory occupation rate for universities in the metropolis area was 18.3 percent, lower than the 27.7 percent in other areas.

One alternative for students is special dormitories operated by regional governments for students who don't live in Seoul, but these are either too competitive to get in or too far from the school. Another alternative is shared flats run by Korea Asset Management Corporation, but these have also increased their prices by 20 percent in two years.

"I wish I was born in Seoul," said the student from Seodaemun District.

Increased interest rates and schools no longer running online lectures are among the reasons for the increasing rents in university towns.

"We are running low on supplies because there are less buildings being built amid the rising construction fees," a realtor in Seodaemun District said. "Making 50,000 won hikes in monthly rents is easy because high interest rates turn people toward monthly rents over jeonse, [when a very large refundable deposit is paid up front for rent-free occupancy for a fixed period]." Schools resuming face-to-face lectures are the reason for the rise in demand, according to the realtor.

However, rent is not the only problem for students. Some universities are on the brink of abandoning the flat tuition policy that has been around for 14 years.

Dong-A University in Busan was the first to break the trend by raising its undergraduate tuitions by 3.95 percent this year, a move that was quickly followed by eight other universities.

Education Minister Lee Ju-ho on Feb. 8 expressed regret about some universities raising their tuition fees, pleading with others to keep in line with the government’s freeze policy, but many are expected to follow Dong-A University's steps under financial burden.

For many students who are not able to receive any financial support, a common move is to cut back on living costs.

"I turn on the heating system every eight hours and buy cheap foods like frozen chicken breast in bulk," said a college student surnamed Kim. Others say they first search on flea market platforms for secondhand products before heading to online malls to buy daily necessities.

BY CHOI SEO-IN, SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]