In Korea, if you find a property you like, it is common to pay a holding deposit to reserve it. This lets the landlord know that you are serious about renting the property, and the listing is usually taken off the market so it is no longer shown to other potential tenants.
You may wonder, "Isn't it risky to send money right away?"
To protect both the tenant and the landlord, the real estate agent will first send a summary of the lease terms to both parties. Once both the landlord and the tenant agree to all of the terms, the holding deposit is transferred to the landlord.
The holding deposit is not an extra fee. It becomes part of your security deposit, so when you pay the remaining balance before moving in, you simply pay the remaining amount after deducting the holding deposit.
This process is commonly used in Korea to reserve a property while the final lease agreement is being prepared.