For foreigners, settling down in Korea for the first time remains unfamiliar and complex. Language barriers, security deposit fraud, and high initial costs pose significant obstacles to their daily lives. The startup Look Home (FOHO, Foreigner Home) aims to solve these problems through technology and services. CEO Han Chul-hwa clearly outlined Look Home's starting point, stating, "Life in Korea should be comfortable, even just for the first time."
The inconvenience of New York City was the impetus for starting a business.
Representative Han has traveled abroad frequently since childhood, and recently lived in New York, where he experienced the rental process firsthand. During that time, he keenly realized how cumbersome the process of finding a place to live can be, with phone numbers, remittances, and cultural differences. Upon returning to Korea, he discovered that the Korean real estate system is overly complex and unfriendly to foreigners. Most listings require high deposits, and on-site translation support is lacking.
He decided, "I had to solve all the problems foreigners face when finding a home in an unfamiliar city," and began meeting 50 to 60 landlords a day to secure listings. Initially, he focused on a simple room search algorithm that reflected price and preferences, but he soon realized that the payment and contract process were the bigger challenges. Later, following a security deposit fraud incident involving an international student, he introduced a one-stop model encompassing payment, contract, and settlement.
From exploration to payment and settlement
LookHome is more than just a platform for listing properties. It supports all the necessary steps for foreigners arriving in Korea, finding a home, and starting their life there.
A dedicated manager will be assigned to respond within 24 hours and provide real-time translation services across all channels, including KakaoTalk, phone, and text messages. They will also assist with communication with landlords and even assist with preparing documents for issuing an Alien Registration Card (ARC).
Another notable feature is the introduction of a monthly rent card payment feature for foreigners without bank accounts. Landlords are offered an automatic remittance system, while tenants are offered properties requiring no deposit. A 4.9% success fee is charged upon closing the contract, maintaining a transparent revenue structure. Upon moving in, new residents are provided with a "settlement kit" containing bedding and daily necessities, and essential services such as opening a SIM card and bank account are provided.
The platform's technological foundation is also robust. LookHome is designed to structure listing data to ensure high visibility in SEO (search engine optimization) and AI-powered searches. Han, a representative, emphasized, "It's a platform with a high promotional impact for landlords," adding, "It clearly differentiates itself from existing real estate platforms in its AI-based matching and exposure strategies."
Combining people and technology creates trust.
Lookhome's competitive edge stems from the harmonious blend of people and technology. Each client is assigned a dedicated manager to promptly respond to inquiries. When necessary, they consult with lawyers to conduct registry verification and filter out risky keywords. One Chinese client was infamous for a jeonse (lease) scam just before signing a contract, but Lookhome's verification system helped him avoid the scam.
A representative said, "I've built trust by reviewing properties with clients all day long. This isn't just about providing service; it's about building relationships." Lookhome has established a "24-hour response policy" to ensure prompt and consistent communication.
To Tokyo and Boston
With approximately 2.3 million foreigners residing in Korea (as of 2024, according to the Ministry of Justice), housing demand, particularly among international students, workers, and researchers, is rapidly increasing. Consequently, housing services for foreigners, such as Encostay and Homes in Korea, are emerging one after another. Han, a representative, stated, "This is a positive sign that demonstrates the market's potential," but added, "While most services simply provide information, Look Home addresses all the post-move-in living issues."
Lookhome initially established trust among minority language communities, particularly in Vietnam and the Middle East. By taking an approach that considered cultural context and payment habits beyond simple translation, it established a barrier to entry that competitors would find difficult to match.
LookHome, currently operating from Seoul, plans to expand to Tokyo and Boston by 2026. Japan is easing restrictions on foreign residences, and demand for a transparent rental system is high. Boston, in the US, continues to see steady demand, particularly from international students and researchers.
A representative stated, "Securing stable cash flow is crucial in multiple cities, as the influx of foreigners could plummet due to policy changes or external factors." The representative added, "We aim to achieve 300 million won in recurring revenue and 50,000-60,000 monthly active users (MAU) within the next one to two years." Lookhome plans to automate post-move-in consultation and community functions by developing a Chat GPT-based living agent and a 10-language support system.
One representative emphasized the power of compound interest, saying, "If you provide a little better value every day, it will accumulate over time and lead to greater results." He added that reducing the anxiety and loneliness felt by foreign customers goes beyond simple business and has social implications. He offered advice to aspiring entrepreneurs, saying, "Rather than waiting for perfect conditions, you should learn from small actions."
Look Home plans to continue building a global housing infrastructure that will allow foreigners to live safely anywhere.
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