In Hea Song was studying at Guildhall University
Detectives believe the body in the property in Augusta Street, Poplar, East London, could be that of In Hea Song.
The 22-year-old was studying hotel management at Guildhall University in London and had not been since 8 December.
A police spokesman said they were contacted by the new occupiers of the house on Friday and a Home Office pathologist had been to the scene.
Suitcase body
The spokesman said: "Inquiries are continuing to identify the body, which remains at the house."
Ms Song's parents had travelled to the UK to appeal for information about their daughter.
Gilyong Song and his wife Nyoungok said they had been "longing" for the return of their daughter.
Mr Song said: "It's hard to imagine what it is like to lose someone you love."
Police initially linked Ms Song's disappearance to the discovery of another South Korean woman, 21-year-old Hyo Jung Jin.
Her decomposed body was found in a suitcase near York in November last year.
A 30-year-old man, Kyu Soo Kim, from Holborn, central London, appeared at the Old Bailey on 28 January charged with the murder of Ms Jin.
He was remanded in custody and will reappear in court later this month.