Guesthouse in Jung-gu

These are the budget guesthouses around Jung-gu area as per KNTO which are much closer to Myeongdong compared to Jongno-gu area. 
Rate may vary during peak season, so check the rate carefully before booking.
I compared how far each guesthouses via subway from Myeongdong Station (the place that I like ^^) so you may get the rough idea of the location. 

Note:  900 won if you use T-Money pass otherwise the basic fee is 1000 won for subway.

Jin Guesthouse
Room Min 19,000 won to max 100,000 won
Chungmuro Station, Line 3 and 4, exit 3
Chungmuro to Myeongdong: 1 minute,1 station, 0.7 km, 900 won, No transfer station
Note: Perfect! Just in Myeongdong and very near to Namsan Cable Car Station around 5 minutes walk. 

Bangrang Hostel
Room Min 28,000 won to max 60,000 won
Chungjeongno Station, Line 2 or 5 , Exit 5 or 6
Choongjungno to Myeongdong: 20 minutes, 7 stations, 6.9 km, 900 won, Transfer to blue line 4 at Dongdaemun Stadium Station
Note: It would be fine if you love to shop at Dongdaemun but a bit far from the other tourist spots. 

Seoul Backpackers
Room Min 22,000 won to max 65,000 won
Hoehyeon Station, Line 4, Exit 4 
Hoehyeon to Myeongdong: 1 minutes, 1 station, 0.3 km, 900 won, No transfer
Note: Hoehyeon Station is where Namdaemun located and Myeongdong is just in front of Namdaemun. No sweat at all. ^^ This place is hotcake. According to my friends who have stayed there, they fell in love with the guesthouse at first sight!

Room Min 40,000 won to max 100,000 won
Euljiro-4(Sa)-ga Station, Line 2/5, Exit 4
Euljiro-4(Sa)-ga to Myeongdong: 12 minutes, 3 station, 3 km, 900 won, Transfer at Dongdaemun Stadium Station
Note: Very near to Cheongyecheon stream 

Room Min 45,000 won to max 80,000 won
Myeongdong Station, Line 4, Exit 3
Note: My favourite!I have stayed here and it is situated right below the Namsan cable car station. Myeongdong is just 5 to 10 minutes walk down the hill. My friends and I went to Myeongdong every single night when we were there.
Room min 28,000 won to max 140,000 won
Myeongdong Station, Line 4, Exit 3
Note: Situated near the Namsan cable car station too but not as near as Namsan Guesthouse