Was ist Gyeyakgeum (계약금) — down payment?

Gyeyakgeum (계약금) is the deposit paid at contract signing — usually around 10% of the price for a purchase. It confirms the deal; if the buyer backs out they typically forfeit it, and if the seller backs out they usually repay double.

The 계약금 commits both sides, so only sign once your financing and checks are in order. For a lease, a smaller contract deposit works the same way.