Cost of living in South Korea Introduction
Hey Friends! The Cost Of Living In South Korea makes it possible to Live For $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month. For a strict Budget vs a Luxury Budget.
South Korea is a beautiful country with a unique culture that draws people from all over the world. Known for its vibrant cities, delicious cuisine, and advanced technology, South Korea has become an increasingly popular destination for tourists and expats alike.
In this article, we’ll take a deep dive into the cost of living in South Korea, so you can decide whether this Unique is the right fit for your lifestyle and budget.
This article will take you on a journey with Videos, a Table of expenses, Facebook Groups, Rental sites and more to explore the costs of living in South Korea, from housing and transportation to food and things to do here.
With our expert analysis, practical insights, Research and personal experience in South Korea, you’ll know what to expect when moving to South Korea.
Whether you’re a digital nomad, Expat, Retiree, or just looking to experience South Korea for a few months, our guide is going to help you make the most of your budget with a range of expenses estimated to cost between $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month.
Here are 8 reasons why you should consider moving to South Korea:
- Cost of Living In South Korea: The Average monthly cost of living, including rent, utilities, food, and transportation, ranges from $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month.
- High standard of living and high quality of life
- Strong economy
- Delicious food: Korean cuisine is delicious and healthy. The food is diverse and includes dishes like kimchi, bibimbap, and bulgogi. You’ll also find plenty of street food vendors selling tasty treats.
- Rich cultural heritage
- Advanced technology
- Beautiful scenery
- Affordable cost of living
Table Of Contents
Cost Of Living in South Korea Quick Facts Key Takeaways
Here are some quick facts about the cost of living in South Korea:
- Here’s a breakdown of some key expenses: Total Monthly Living Costs in South Korea, Is $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month. For all expenses, and if you budget smartly, you can expect to spend $1500 to $2500 per month for all expenses.
- South Korea, is 57% times cheaper than New York City, United States.
- Living well in South Korea is possible with a monthly income of around $2500.
- The monthly rent, food budget, housing expenses, and transportation options in South Korea are determined by your budget.
- To maintain the same standard of life as $10,000 in New York City, an estimated $4,200 is needed in South Korea.
- On average, the cost of living in South Korea, is 57% cheaper than in New York City, United States.
- On average, rent in South Korea is 57% cheaper than in New York City, New York, USA.
- The costs of rent in South Korea range from $300 – $1000 Per month. Depending on your budget.
- A budget food and grocery plan in South Korea will cost around $300 – $1200 per month, depending on location and budget.
- An estimated monthly cost for a family of four in South Korea is $3250.
- An estimated monthly cost for a single person in South Korea is $1200 – 2,000.
- Transportation costs in South Korea are estimated to be $50 – $150 per month.
- Expats and digital nomads may spend more, $1500 – $2500 per month, to maintain their living standards in South Korea. We spent around $1,110 – $2,350 (KRW 1,250,000 – KRW 3,000,000) per month for example.
Our Personal Costs of Living in South Korea: Table of expenses Breakdown 2024
Living in South Korea can be an exciting and rewarding experience, but it’s important to have a good understanding of the cost of living before you go. Here’s a breakdown of our monthly cost of living in South Korea:
- Our Monthly Cost Of Rent and Accommodation: Our monthly cost for a one-bedroom apartment in South Korea ranges from $500 to $1,000, which is around KRW 562,000 to KRW 1,687,000.
- Our Monthly Cost Of Utilities: Our monthly cost for utilities in South Korea is between $80 and $200, which is around KRW 90,000 to KRW 224,000. This includes electricity, water, and internet.
- Our Monthly Cost Of Gym Membership: We pay between $30 and $100 per month for our gym membership in South Korea, which is around KRW 34,000 to KRW 112,000.
- Our Monthly Cost Of Food and Groceries: Our monthly cost for food and groceries in South Korea ranges from $300 to $500, which is around KRW 337,000 to KRW 562,000. This includes dining out and buying groceries for cooking at home.
- Our Monthly Cost Of Transportation: Our monthly cost for transportation in South Korea is between $50 and $150, which is around KRW 56,000 to KRW 168,000. This includes public transport, taxis, and car rentals.
- Our Monthly Cost Of Activities and Entertainment: Our monthly cost for activities, leisure, and entertainment in South Korea is between $100 and $300, which is around KRW 112,000 to KRW 337,000. This includes going to movies, concerts, and other events.
- Our Monthly Cost Of Health Insurance: Our monthly cost for health insurance in South Korea is between $50 and $150, which is around KRW 56,000 to KRW 168,000.
Overall, our total monthly cost of living in South Korea is between $1,110 and $2,350, which is around KRW 1,250,000 to KRW 3,000,000. It’s important to keep in mind that these costs can vary depending on your lifestyle and location within South Korea. By being mindful of your spending, you can enjoy everything that this beautiful country has to offer without breaking the bank.
Here is a table of Expenses for what we personally spent in South Korea:
| Our Monthly Cost of Living In South Korea | Cost (USD) | Cost (KRW WON) |
|---|---|---|
| Our Monthly Cost of Rent and Accommodation in South Korea | $500 – $1,000 | KRW 562,000 – KRW 1,687,000 |
| Our Monthly Cost of Utilities | $80 – $200 | KRW 90,000 – KRW 224,000 |
| Our Gym Cost per month in South Korea | $30 – $100 | KRW 34,000 – KRW 112,000 |
| Our Monthly Cost of Food and Groceries | $300 – $500 | KRW 337,000 – KRW 562,000 |
| Our Monthly Cost of Transportation | $50 – $150 | KRW 56,000 – KRW 168,000 |
| Our Monthly Cost of Activities, Leisure, Entertainment | $100 – $300 | KRW 112,000 – KRW 337,000 |
| Our Monthly Cost of Health Insurance | $50 – $150 | KRW 56,000 – KRW 168,000 |
| Our Monthly Cost of Living in South Korea total expenses | $1,110 – $2,350 | KRW 1,250,000 – KRW 3,000,000 |
Monthly Cost of Living in South Korea Summary Cost Of Rent, Groceries, Transportation, Healthcare: $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month
You can live in South Korea, for around $870 a month for all expenses on a tight budget or $4,050 a month if you want to live much more luxuriously. The Cost of living in South Korea is from $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month.
You can still maintain a monthly budget and enjoy all the beautiful things South Korea, offers.
The following is a breakdown of the average cost of living in South Korea:
- Rent: The cost of renting a studio apartment in South Korea ranges from $200 to $800 per month, which is Equivalent to around 240,000 to 880,000 KRW WON. If you’re looking for a one-bedroom apartment, the cost is slightly higher, ranging from $500 to $1,000 per month, or 550,000 to 1.1 million KRW. A two-bedroom apartment can cost between $800 to $1,500 per month, or 880,000 to 1.65 million KRW, while a three-bedroom apartment can range from $1,500 to $2,500 per month, or 1.65 million to 2.75 million KRW.
- Utilities: The cost of basic utilities, including electricity and water, typically ranges from $100 to $200 per month, or 110,000 to 220,000 KRW.
- Mobile Phone: You can expect to pay between $20 to $50 per month, or 22,000 to 55,000 KRW, for an unlimited data plan with a SIM card.
- Internet: For wifi, the cost is between $20 to $50 per month, or 22,000 to 55,000 KRW.
- Food: The cost of food in South Korea varies depending on your lifestyle. If you cook most of your meals at home, you can expect to spend around $400 to $800 per month, or 440,000 to 880,000 KRW. If you enjoy dining out, partying, and experiencing the nightlife, your monthly food expenses could be higher.
- Transportation: Public transportation in South Korea is relatively affordable, with monthly costs ranging from $50 to $150, or 55,000 to 165,000 KRW. If you prefer taking taxis or renting a car, the costs can be higher.
- Healthy Activities: If you’re looking to stay fit and healthy, South Korea offers plenty of options, including gyms, martial arts classes, yoga studios, and massages. The cost of these activities can range from $30 to $100 per month, or 33,000 to 110,000 KRW.
- Health Insurance: It’s important to have health insurance when living in South Korea, and you can choose from providers such as SafetyWing, World Nomads, or Medicare. The cost of health insurance typically ranges from $50 to $200 per month, or 55,000 to 220,000 KRW.
in total, the average monthly cost of living in South Korea ranges from $870 to $4,050, or 950,000 to 5.30 million KRW WON, depending on your lifestyle and preferences.
A great monthly budget for a single person living in South Korea, is around $2000 to $3000 monthly. You can also do it for cheaper.
The costs of living in South Korea, Depending on various factors and spending habits, the price may change. Others spend $5,000 or more each month for an extravagant, next-level lifestyle or even $1,000 on the strictest budget staying in hostels, couchsurfing, and smaller studio apartments, ensuring they make it work no matter what!
- Expect to spend $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month. for a single person or a family living in South Korea. $2000 per Month is sufficient to live on.
- Local South Korea markets, Local Food trucks, Local food shops, and supermarkets are the most cost-effective and knowledgeable ways to shop and eat in South Korea!
Here is a table of expenses for a couple living in South Korea per month:
| Average Cost of Living in South Korea | Cost in USD | Cost in KRW |
|---|---|---|
| Rent (Studio apartment) | $200 – $800 | 240,000 – 880,000 KRW |
| Rent (1 bedroom apartment) | $500 – $1,000 | 550,000 – 1.1 million KRW |
| Rent (2 bedroom apartment) | $800 – $1,500 | 880,000 – 1.65 million KRW |
| Rent (3 bedroom apartment) | $1,500 – $2,500 | 1.65 million – 2.75 million KRW |
| Utilities (electricity, water) | $100 – $200 | 110,000 – 220,000 KRW |
| Mobile phone (unlimited data plan, Sim Card) | $20 – $50 | 22,000 – 55,000 KRW |
| Internet (wifi) | $20 – $50 | 22,000 – 55,000 KRW |
| Food (groceries, dining out, Partying, nightlife) | $400 – $800 | 440,000 – 880,000 KRW |
| Transportation (Public transport, Taxi, Scooter, car) | $50 – $150 | 55,000 – 165,000 KRW |
| Healthy activities (gym, martial arts, yoga, massages) | $30 – $100 | 33,000 – 110,000 KRW |
| Health insurance (SafetyWing, World Nomads, or Medicare) | $50 – $200 | 55,000 – 220,000 KRW |
| Total Monthly Cost Of Living In South Korea | $870 – $4,050 | KRW 950,000 – 5.30 million KRW |
Cost of Living in South Korea: Table of Expenses in 2024
This table of expenses will help you plan your budget for your move to South Korea.
The Cost of living table below An extensive poll of Digital Nomads, Expats, travelers, our personal experience living Here, Locals, and Numbeo users were used to put this together.
The Exchange Rate is $1 USD is Currently equal to 1,309 KRW Currency South Korean Won This estimate is based on a Strict Budget Vs. A luxury Budget in South Korea per Month! The Cost Of Living Per Month In South Korea, is $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month or more, depending on your spending habits! Check out the Currency Converter.
Here is the Table of the monthly budget for two people living in South Korea:
| Cost of living in South Korea per person | Cost in USD ($) | Cost in KRW (KRW) |
|---|---|---|
| Cost of living for a single person in South Korea | $1,000 – $2,000 | 1.1 million – 2.2 million KRW |
| Cost of living for a couple in South Korea | $2,000 – $4,000 | 2.2 million – 4.4 million KRW |
| Cost of living for a family of four in South Korea | $3,000 – $6,000 | 3.3 million – 6.6 million KRW |
| Average Monthly Expenses in South Korea | Cost in USD ($) | Cost in KRW (₩) |
|---|---|---|
| Average monthly rent for a studio | $320 – $650 | ₩350,000 – ₩750,000 |
| Average monthly cost for food and groceries | $200 – $400 | ₩220,000 – ₩440,000 |
| Average monthly cost for dining out | $150 – $300 | ₩165,000 – ₩330,000 |
| Average monthly cost for miscellaneous items | $100 – $200 | ₩110,000 – ₩220,000 |
| Average monthly cost for utilities | $100 – $200 | ₩110,000 – ₩220,000 |
| Average monthly cost for transportation | $50 – $100 | ₩55,000 – ₩110,000 |
| Total average monthly cost of living in South Korea | $920 – $1,800 | ₩1,010,000 – ₩2,110,000 |
| Cost of Living in South Korea Expenses | Cost (Monthly) in USD | Cost (Monthly) In KRW |
|---|---|---|
| Cost of Rent and Accommodation in South Korea | $320 – $1,000 | ₩350,000 – ₩1,100,000 |
| Cost of Food and Groceries | $200 – $600 | ₩220,000 – ₩660,000 |
| Cost of Utilities | $100 – $200 | ₩110,000 – ₩220,000 |
| Cost of Public Transportation | $50 – $100 | ₩55,000 – ₩110,000 |
| Cost of Private Transportation | $200 – $400 | ₩220,000 – ₩440,000 |
| Cost of Healthcare | $50 – $200 | ₩55,000 – ₩220,000 |
| Cost of Entertainment | $50 – $200 | ₩55,000 – ₩220,000 |
| Cost of Clothing and Personal Items | $50 – $200 | ₩55,000 – ₩220,000 |
| Cost of Activities and Excursions | $50 – $200 | ₩55,000 – ₩220,000 |
Cost of Rent In South Korea In-Depth Summary And Table of Expenses
The cost of accommodation in South Korea is essential for many expats, retirees, digital nomads, and locals. It can vary depending on the apartment type and location you are looking for.
The cost of studio and one-bedroom apartments in South Korea:
- Studio apartments in the city of South Korea cost between $400 to $900 per month (₩450,000 – ₩1,000,000).
- Studio apartments outside the city of South Korea cost between $250 to $600 per month (₩280,000 – ₩680,000).
- 1-bedroom apartments in the city of South Korea cost between $600 to $1,200 per month (₩680,000 – ₩1,350,000).
- 1-bedroom apartments outside the city of South Korea cost between $350 to $800 per month (₩390,000 – ₩900,000).
| Cost of a Apartment in South Korea | Location | Average Cost per Month (USD) | Average Cost per Month (KRW) |
|---|---|---|---|
| Cost of a Studio apartment in the city of South Korea | City | $400 – $900 | ₩450,000 – ₩1,000,000 |
| Cost of a Studio apartment outside the city of South Korea | Outside City | $250 – $600 | ₩280,000 – ₩680,000 |
| Cost of a 1 bedroom in the city of South Korea | City | $600 – $1,200 | ₩680,000 – ₩1,350,000 |
| Cost of a 1 bedroom outside the city of South Korea | Outside City | $350 – $800 | ₩390,000 – ₩900,000 |
The Cost of 2 Bedroom Apartment in South Korea:
- On average, the monthly cost for a 2 bedroom apartment in South Korea ranges from $500 to $1,800 USD (₩560,000 to ₩2,000,000 KRW).
- If you’re looking for a 2 bedroom apartment within the city of South Korea, the average cost per month is between $800 to $1,800 USD (₩900,000 to ₩2,000,000 KRW).
- If you prefer to live outside the city of South Korea, the average cost per month for a 2 bedroom apartment is between $500 to $1,200 USD (₩560,000 to ₩1,350,000 KRW).
| Cost of a 2 Bedroom Apartment in South Korea | Location | Average Cost per Month (USD) | Average Cost per Month (KRW) |
|---|---|---|---|
| Cost of a 2 Bedroom Apartment in the city of South Korea | City | $800 – $1,800 | ₩900,000 – ₩2,000,000 |
| Cost of a 2 Bedroom Apartment outside the city of South Korea | Outside City | $500 – $1,200 | ₩560,000 – ₩1,350,000 |
The Cost of a 3 bedroom apartment in South Korea:
- On average, the monthly cost for a 3 bedroom apartment in South Korea ranges from $800 to $2,500 USD (₩900,000 to ₩2,800,000 KRW).
- If you’re looking for a 3 bedroom apartment within the city of South Korea, the average cost per month is between $1,200 to $2,500 USD (₩1,350,000 to ₩2,800,000 KRW).
- If you prefer to live outside the city of South Korea, the average cost per month for a 3 bedroom apartment is between $800 to $1,600 USD (₩900,000 to ₩1,800,000 KRW).
| Cost of a 3 bedroom Apartment in South Korea | Location | Average Cost per Month (USD) | Average Cost per Month (KRW) |
|---|---|---|---|
| Cost of a 3 bedroom Apartment in the city of South Korea | City | $1,200 – $2,500 | ₩1,350,000 – ₩2,800,000 |
| Cost of a 3 bedroom Apartment outside the city of South Korea | Outside City | $800 – $1,600 | ₩900,000 – ₩1,800,000 |
The Cost of a Luxury Apartment in South Korea per month:
- The average monthly cost for a luxury apartment in South Korea ranges from $1,800 to $4,000 USD (₩2,000,000 to ₩4,500,000 KRW) depending on the location.
- If you prefer to live in the city of South Korea, expect to pay between $2,500 to $4,000 USD (₩2,800,000 to ₩4,500,000 KRW) per month for a luxury apartment.
- If you prefer to live outside the city of South Korea, the average cost per month for a luxury apartment is between $1,800 to $2,500 USD (₩2,000,000 to ₩2,800,000 KRW).
| Cost of a Luxury apartment in South Korea | Location | Average Cost per Month (USD) | Average Cost per Month (KRW) |
|---|---|---|---|
| Cost of a Luxury apartment in the city of South Korea | City | $2,500 – $4,000 | ₩2,800,000 – ₩4,500,000 |
| Cost of a Luxury apartment outside the city of South Korea | Outside City | $1,800 – $2,500 | ₩2,000,000 – ₩2,800,000 |
Suppose you’re considering renting an apartment in South Korea keep in mind you will have to usually make a large deposit of around $4,500 to rent, but if you don’t want to do this, then you will pay a higher price so if you do pay the deposit you might find a cheap apartment for around 250 but if you don; ‘t that same apartment will rent for around $400 to $600.
In that case, your best bet is to opt for a monthly rental in person, via Facebook Marketplace, Real estate South Korea rental site Helper, Booking.com, and Airbnb.
- To save money on your rental and daily expenses, consider looking for an apartment located in a neighborhood with access to local markets, gyms, and restaurants and short walking distances and safe areas.
- You can also join Facebook groups such as “Digital Nomads in South Korea” or “Expats in South Korea” and South Korea rental group on Facebook to connect with others and potentially find affordable rental options.
- Alternatively, consider staying at a Hostel, Airbnb, hotel monthly, homestay, guesthouse, or bed and breakfast in South Korea for more affordable rates rather than a costly hotel or tourist location.
Monthly Rent in South Korea: Table of Expenses in 2024
Here is a table of expenses for the Cost of rent and Accommodation in South Korea per month:
| Cost of Rent in South Korea | Cost per Month (USD) | Cost per Month (KRW) |
|---|---|---|
| Cost of a Studio Apartment in South Korea | $300 – $900 | 350,000 KRW – 1,000,000 KRW |
| Cost of a 1 Bedroom Apartment in South Korea | $400 – $1,500 | 460,000 KRW – 1,700,000 KRW |
| Cost of a 2 Bedroom Apartment in South Korea | $500 – $2,500 | 580,000 KRW – 2,900,000 KRW |
| Cost of a 3 Bedroom Apartment in South Korea | $700 – $4,000 | 810,000 KRW – 4,600,000 KRW |
| Cost of a Luxury Apartment in South Korea | $1,000 – $6,000 | 1,200,000 KRW – 7,000,000 KRW |
| Average Monthly Rent Expense in South Korea | Average Monthly Rent in USD | Average Monthly Rent in KRW |
|---|---|---|
| Average monthly rent for a Studio Apartment In South Korea | $500 – $1,100 | 580,000 KRW – 1,300,000 KRW |
| Average monthly rent for a 1 Bedroom Apartment In South Korea | $700 – $2,000 | 810,000 KRW – 2,300,000 KRW |
| Average monthly rent for a 2 Bedroom Apartment South Korea | $1,000 – $3,500 | 1,200,000 KRW – 4,000,000 KRW |
| Average monthly rent for a 3 Bedroom Apartment South Korea | $1,500 – $6,000 | 1,700,000 KRW – 7,000,000 KRW |
| Accommodation Type in South Korea | Average Monthly Cost in USD | Average Monthly Cost in KRW |
|---|---|---|
| Price of a 1 bedroom apartment in city center | $510 – $1,938 | ₩576,250 – ₩2,185,000 |
| Price of a 1 bedroom apartment outside city | $316 – $1,138 | ₩356,250 – ₩1,287,500 |
| Price of a studio apartment in city center | $367 – $1,678 | ₩413,750 – ₩1,892,500 |
| Price of a studio apartment outside city center | $260 – $1,064 | ₩293,750 – ₩1,200,000 |
| Price of a shared room in city center | $191 – $651 | ₩215,625 – ₩734,375 |
| Price of a shared room outside city center | $155 – $512 | ₩175,000 – ₩578,125 |
| Price of a hotel room (3-star) | $55 – $198 | ₩62,187 – ₩223,125 |
| Price of a hotel room (5-star) | $119 – $398 | ₩134,063 – ₩448,125 |
| Price of a 2 bedroom apartment in city center | $764 – $3,876 | ₩861,875 – ₩4,366,875 |
| Price of a 2 bedroom apartment outside city center | $505 – $1,897 | ₩570,000 – ₩2,138,125 |
| Price of a 3 bedroom apartment in city center | $1,372 – $6,006 | ₩1,546,875 – ₩6,766,875 |
| Price of a 3 bedroom apartment outside city center | $846 – $2,691 | ₩953,437 – ₩3,036,563 |
Here is a table of estimated costs for rent and accommodation in South Korea:
| Housing Accommodation Type in South Korea | Price Range per day (USD) | Price Range per day (KRW) |
|---|---|---|
| Hostel | $10 – $40 | ₩10,000 – ₩50,000 |
| Budget Hotel | $40 – $70 | ₩50,000 – ₩80,000 |
| Mid-range Hotel | $70 – $150 | ₩80,000 – ₩170,000 |
| Luxury Hotel | $150 – $300+ | ₩170,000 – ₩350,000+ |
| Vacation Rental | $50 – $250+ | ₩60,000 – ₩300,000+ |
| Guest House | $30 – $70 | ₩40,000 – ₩80,000 |
| Bed & Breakfast | $40 – $150+ | ₩50,000 – ₩180,000+ |
Living in South Korea Credible Reliable Sources
Here is a list of Government resources for Visas, Cost of living in South Korea, Facebook Groups, Aprtment rental sites, Tourism Boards, and more to help you with your potential move here! I hope this helps you all as you plan your move here!
- Here is a site to find all the apartment rentals in South Korea a list of 11 Apartment sites and check out Sublet apartment rentals in South Korea Site
- South Korea Facebook Groups: South Korea Foreigners Group and South Korea expat Facebook group to connect with other expats and locals.
- South Korea Tourism Site: South Korea Tourism Board
- South Korea Data from the World Bank and World Data and South Korea Travel Data
- South Korea Embassy for more information like Visas and more from South Korea Embassy
- Government of South Korea
- For exchanging money use Wise Which is the Best Option if you are a digital nomad and Expat. a cheaper solution to send, spend and receive money internationally rather exchanging money through other platforms like Paypal, Payoneer that cost a lot of money for exchange fees and rates
Cost Of Transportation In South Korea Summary and Table of expenses
Expect to spend from $50 – $300 a month on Transportation, Most People don’t Own a car in South Korea the best way to get around is to use the Subway, High Speed Rail and Scooter, Here’s a breakdown of each transportation option, including costs:
- Subway (single ride): The subway is a popular and efficient way to travel in South Korea’s major cities. The cost of a single ride ranges from $1.30 to $1.70 USD (1,500 to 2,000 KRW).
- Subway (monthly pass): For those who use the subway frequently, a monthly pass may be a more cost-effective option. The cost of a monthly pass ranges from $38 to $90 USD (44,000 to 104,000 KRW).
- Bus (single ride): The public bus system in South Korea is extensive and can be a great way to get around. The cost of a single bus ride ranges from $1.30 to $2.00 USD (1,500 to 2,300 KRW).
- Bus (monthly pass): Similar to the subway, a monthly pass for the bus system can save money for frequent riders. The cost of a monthly pass ranges from $38 to $90 USD (44,000 to 104,000 KRW).
- Taxi (starting fare): Taxis are readily available in South Korea and are a convenient option for shorter trips. The starting fare is $3.00 USD (3,500 KRW).
- Taxi (per km): For longer trips, taxis charge by the distance traveled. The cost per kilometer ranges from $0.10 to $0.20 USD (120 to 230 KRW).
- Taxi (late night surcharge): Taxis also charge a surcharge for rides taken during late night hours. The surcharge ranges from $1.50 to $3.00 USD (1,700 to 3,500 KRW).
- Intercity Bus: For travel between cities, intercity buses are a good option. The cost ranges from $10 to $30 USD (11,500 to 34,500 KRW).
- Train (KTX, high-speed): The KTX is South Korea’s high-speed train system, which can take you quickly between major cities. The cost ranges from $40 to $150 USD (46,000 to 173,000 KRW).
- Train (Mugunghwa, regular): For shorter distances or regional travel, the Mugunghwa is a regular train option. The cost ranges from $10 to $30 USD (11,500 to 34,500 KRW).
- Car Rental (per day): For those who prefer to drive themselves, car rental is an option. The cost ranges from $50 to $100 USD (57,000 to 115,000 KRW) per day.
- Car Rental is renting a car with insurance that costs $40 to $80 USD per day or KRW 44,000 to KRW 88,000 per day.
- Bicycle Rental is renting a bicycle that costs $2 to $6 USD per hour or KRW 2,500 to KRW 6,000 per hour.
- Scooter Rental is renting a scooter that costs $20 to $40 USD per day or KRW 22,000 to KRW 44,000 per day.
- Train is a national train system that costs $20 to $100 USD for standard seats or KRW 22,000 to KRW 110,000 for standard seats.
- High-speed Train is a high-speed train system that costs $50 to $200 USD for standard seats or KRW 55,000 to KRW 220,000 for standard seats.
Here is a detailed table of estimated costs for public transportation in South Korea:
| Transportation Options in South Korea | Cost in USD | Cost in KRW |
|---|---|---|
| Subway (single ride) | $1.30 – $1.70 | 1,500 – 2,000 KRW |
| Subway (monthly pass) | $38 – $90 | 44,000 – 104,000 KRW |
| Bus (single ride) | $1.30 – $2.00 | 1,500 – 2,300 KRW |
| Bus (monthly pass) | $38 – $90 | 44,000 – 104,000 KRW |
| Taxi (starting fare) | $3.00 | 3,500 KRW |
| Taxi (per km) | $0.10 – $0.20 | 120 – 230 KRW |
| Taxi (late night surcharge) | $1.50 – $3.00 | 1,700 – 3,500 KRW |
| Intercity Bus | $10 – $30 | 11,500 – 34,500 KRW |
| Train (KTX, high-speed) | $40 – $150 | 46,000 – 173,000 KRW |
| Train (Mugunghwa, regular) | $10 – $30 | 11,500 – 34,500 KRW |
| Car Rental (per day) | $50 – $100 | 57,000 – 115,000 KRW |
| Best Transportation Options in South Korea | Description | Cost in USD | Cost in KRW |
|---|---|---|---|
| Subway | Public underground train system | $1.20 – $2.30 per ride | KRW 1,350 – KRW 2,700 per ride |
| Bus | Public bus system | $1.10 – $2.20 per ride | KRW 1,200 – KRW 2,400 per ride |
| Taxi | Private taxi service | $2.20 – $5.50 for initial fare, $0.10 – $0.50 for each additional 144m | KRW 3,000 – KRW 6,000 for initial fare, KRW 120 – KRW 600 for each additional 144m |
| Car Rental | Renting a car with insurance | $40 – $80 per day | KRW 44,000 – KRW 88,000 per day |
| Bicycle Rental | Renting a bicycle | $2 – $6 per hour | KRW 2,500 – KRW 6,000 per hour |
| Scooter Rental | Renting a scooter | $20 – $40 per day | KRW 22,000 – KRW 44,000 per day |
| Train | National train system | $20 – $100 for standard seats | KRW 22,000 – KRW 110,000 for standard seats |
| High-speed Train | High-speed train system | $50 – $200 for standard seats | KRW 55,000 – KRW 220,000 for standard seats |
Additionally, here are some other related expenses:
- Gasoline (1 gallon): around $4 – $7 per gallon.
| Monthly Cost Of Gas and Petrol For Scooter in South Korea | Cost in USD | Cost In KRW |
|---|---|---|
| Average monthly cost for gasoline, Petrol for scooter | $30 – $110 | KRW 39,000 – 144,000 KRW |
Ultimately, we recommend renting a using the public transportation Subway, High Speed Rail, Tram, and Scooter This will give you the best experience, and you can explore South Korea this way we definitely don’t recommend buying a car it is very unnecessary in South Korea.
For more information check out the Government Of transportation in South Korea
Cost of Food and Markets In South Korea Explained: Table Of Expenses 2024
The cost of food in South Korea can vary depending on your lifestyle, dining preferences, and dietary restrictions. Here is a breakdown of the average monthly costs for food in South Korea:
- The average monthly cost of local food in South Korea ranges from $250 to $400 USD or 290,000 to 460,000 KRW.
- Mid-range restaurants in South Korea have an average monthly cost ranging from $400 to $800 USD or 460,000 to 920,000 KRW.
- The cost of dining at fine dining restaurants in South Korea averages between $800 to $1,500 USD or 920,000 to 1,730,000 KRW per month.
- For groceries in South Korea, you can expect to spend between $200 to $400 USD or 230,000 to 460,000 KRW monthly.
- Supermarkets that sell imported goods in South Korea have an average monthly cost ranging from $500 to $800 USD or 580,000 to 920,000 KRW.
- If you prefer street food in South Korea, you can expect to spend between $100 to $200 USD or 115,000 to 230,000 KRW per month.
- Specialty food stores in South Korea have an average monthly cost ranging from $200 to $400 USD or 230,000 to 460,000 KRW.
Overall, the monthly cost of food in South Korea ranges from $250 to $1,500 USD or 290,000 to 1,730,000 KRW.
Here is a table of expenses for the Cost of Food in South Korea per month:
| Cost of Food in South Korea | Average Monthly Cost (USD) | Average Monthly Cost (KRW) |
|---|---|---|
| Local food in South Korea | $250 – $400 | 290,000 – 460,000 KRW |
| Mid-range restaurants South Korea | $400 – $800 | 460,000 – 920,000 KRW |
| Fine dining restaurants South Korea | $800 – $1,500 | 920,000 – 1,730,000 KRW |
| Groceries South Korea | $200 – $400 | 230,000 – 460,000 KRW |
| Supermarkets (imported goods) | $500 – $800 | 580,000 – 920,000 KRW |
| Street food South Korea | $100 – $200 | 115,000 – 230,000 KRW |
| Specialty food stores | $200 – $400 | 230,000 – 460,000 KRW |
| Overall Monthly Cost of Food in South Korea | $250 – $1,500 | 290,000 – 1,730,000 KRW |
| Average Monthly Food Costs in South Korea | Cost in USD | Cost in KRW |
|---|---|---|
| Local Food Markets, Street food and Local Supermarkets and cheaper dining options | $250 – $400 | 290,000 – 460,000 KRW |
| Eating out at Mid range restaurants and expensive restaurants per month (No Budget) | $400 – $1,500 | 460,000 – 1,730,000 KRW |
Here is an example table of expenses for the average monthly food and grocery costs in South Korea:
| Monthly Food Expenses in South Korea | Cost in USD | Cost in KRW |
|---|---|---|
| Average monthly cost for groceries | $200 – $400 | 230,000 – 460,000 KRW |
| Average monthly cost for dining out | $400 – $1,000 | 460,000 – 1,150,000 KRW |
| Average monthly cost for miscellaneous food items | $100 – $200 | 115,000 – 230,000 KRW |
| Total average monthly cost for food in South Korea | $300 – $1,500 | 400,000 – 1,730,000 KRW |
| Cost Of Food and Groceries In a Supermarket in South Korea | Estimated Cost (USD) | Estimated Cost (KRW) |
|---|---|---|
| Milk (1 liter) | $2.21 – $2.92 | 2,600 KRW – 3,400 KRW |
| Bread (500g loaf) | $1.53 – $2.18 | 1,800 KRW – 2,600 KRW |
| Rice (1kg) | $2.21 – $3.05 | 2,600 KRW – 3,600 KRW |
| Chicken (1kg) | $5.30 – $7.17 | 6,200 KRW – 8,400 KRW |
| Apples (1kg) | $2.92 – $4.63 | 3,400 KRW – 5,400 KRW |
| Oranges (1kg) | $2.18 – $3.05 | 2,600 KRW – 3,600 KRW |
| Eggs (1 dozen) | $2.63 – $3.76 | 3,100 KRW – 4,400 KRW |
| Cheese (1kg) | $8.42 – $11.84 | 9,900 KRW – 13,900 KRW |
| Beef (1kg) | $10.60 – $17.37 | 12,400 KRW – 20,400 KRW |
| Potatoes (1kg) | $1.76 – $2.21 | 2,100 KRW – 2,600 KRW |
| Tomatoes (1kg) | $2.07 – $2.63 | 2,400 KRW – 3,100 KRW |
| Onion (1kg) | $1.32 – $1.84 | 1,500 KRW – 2,200 KRW |
| Water (1.5 liter bottle) | $0.84 – $1.32 | 1,000 KRW – 1,550 KRW |
| Soft drink (1.5 liter bottle) | $1.32 – $2.18 | 1,550 KRW – 2,550 KRW |
| Beer (330ml bottle) | $1.32 – $1.84 | 1,550 KRW – 2,200 KRW |
| Wine (mid-range bottle) | $11.05 – $23.68 | 13,000 KRW – 27,800 KRW |
| Fast food meal | $4.21 – $7.89 | 4,950 KRW – 9,300 KRW |
| Restaurant meal (mid-range) | $7.89 – $14.48 | 9,300 KRW – 17,000 KRW |
Here is a table of estimated costs for food and Groceries in supermarkets in South Korea:
| Cost of Groceries and Food in South Korea | USD | KRW |
|---|---|---|
| Meal, Inexpensive Restaurant | USD 5.00 – USD 8.00 | KRW 6,000 – KRW 8,000 |
| Meal for 2, Mid-range Restaurant, Three-course | USD 30.00 – USD 50.00 | KRW 35,000 – KRW 70,000 |
| Combo Meal at McDonalds or Similar | USD 6.00 – USD 7.00 | KRW 5,000 – KRW 6,000 |
| Domestic Beer (0.5 liter draught) | USD 3.00 – USD 5.00 | KRW 4,000 – KRW 6,000 |
| Imported Beer (0.33 liter bottle) | USD 4.00 – USD 7.00 | KRW 35,000 – KRW 62,000 |
| Cappuccino (regular) | USD 3.00 – USD 5.00 | KRW 3,500 – KRW 5,000 |
| Coke/Pepsi (0.33 liter bottle) | USD 1.00 – USD 2.00 | KRW 1,000 – KRW 2,000 |
| Water (0.33 liter bottle) | USD 1.00 – USD 2.00 | KRW 1,000 – KRW 2,000 |
| Milk (regular), (1 liter) | USD 1.50 – USD 2.50 | KRW 1,500 – KRW 3,000 |
| Loaf of Fresh White Bread (500g) | USD 1.50 – USD 2.50 | KRW 1,500 – KRW 2,500 |
| Rice (white), (1kg) | USD 2.00 – USD 4.00 | KRW 2,000 – KRW 4,000 |
| Eggs (regular) (12) | USD 2.00 – USD 3.00 | KRW 2,000 – KRW 3,000 |
| Local Cheese (1kg) | USD 8.00 – USD 10.00 | KRW 54,000 – KRW 78,000 |
| Chicken Breasts (Boneless, Skinless), (1kg) | USD 7.00 – USD 10.00 | KRW 7,000 – KRW 10,000 |
| Beef Round (1kg) (or Equivalent Back Leg Red Meat) | USD 12.00 – USD 18.00 | KRW 12,000 – KRW 18,000 |
| Apples (1kg) | USD 2.00 – USD 4.00 | KRW 2,000 – KRW 4,000 |
| Banana (1kg) | USD 1.50 – USD 3.00 | KRW 1,500 – KRW 3,000 |
| Oranges (1kg) | USD 2.00 – USD 4.00 | KRW 2,000 – KRW 4,000 |
| Tomato (1kg) | USD 2.00 – USD 4.00 | KRW 2,000 – KRW 4,000 |
| Potato (1kg) | USD 1.50 – USD 3.00 | KRW 1,870 – KRW 2,800 |
| Onion (1kg) | $1.76 – $2.64 | KRW 1,870 – KRW 2,800 |
| Lettuce | $0.88 – $1.76 | KRW 935 – KRW 2,000 |
| Water (1.5 liter bottle) | $0.98 – $1.65 | KRW 1,200 – KRW 2,300 |
| Bottle of Wine (Mid-Range) | $16.00 – $20.00 | KRW 20,000 – KRW 30,000 |
Cost of Utilities in South Korea Summary and Table of Expenses 2024
Here is a detailed breakdown of the estimated monthly cost of utilities in South Korea:
- Basic electricity and gas: The estimated monthly cost in South Korea ranges from $120 to $200 (KRW 139,000 – KRW 231,667). This cost can vary depending on factors such as the size of the apartment or house and the season.
- Water: The estimated monthly cost of water in South Korea is relatively low, ranging from $10 to $20 (KRW 11,583 – KRW 23,167).
- Internet (Broadband): The estimated monthly cost of broadband internet in South Korea ranges from $25 to $50 (KRW 28,958 – KRW 57,917). South Korea is known for its high-speed internet infrastructure; many providers offer reliable and fast internet services.
- Mobile phone sim card (Prepaid): For those who prefer prepaid phone plans, the estimated monthly cost of a mobile phone sim card in South Korea ranges from $10 to $20 (KRW 11,583 – KRW 23,167).
- Mobile phone plan (Postpaid): For those who prefer postpaid phone plans, the estimated monthly cost of a mobile phone plan in South Korea ranges from $30 to $50 (KRW 34,750 – KRW 57,917).
- Mobile phone plan (Unlimited data): For those who require unlimited data, the estimated monthly cost of a mobile phone plan with unlimited data in South Korea ranges from $45 to $65 (KRW 52,125 – KRW 75,542).
Total cost of utilities in South Korea: The total estimated monthly cost of utilities in South Korea, including basic electricity and gas, water, internet, and mobile phone plans, ranges from $100 to $300 (KRW 130,000 – KRW 390,000). This cost can vary depending on individual usage and service providers.
Here is an example table of expenses for the average monthly utilities in South Korea:
| Monthly Cost of Utilities in South Korea | Estimated Monthly Cost (USD) | Estimated Monthly Cost (KRW) |
|---|---|---|
| Basic electricity/gas | $120 – $200 | KRW 139,000 – KRW 231,667 |
| Water | $10 – $20 | KRW 11,583 – KRW 23,167 |
| Internet (Broadband) | $25 – $50 | KRW 28,958 – KRW 57,917 |
| Mobile phone sim card (Prepaid) | $10 – $20 | KRW 11,583 – KRW 23,167 |
| Mobile phone plan (Postpaid) | $30 – $50 | KRW 34,750 – KRW 57,917 |
| Mobile phone plan (Unlimited data) | $45 – $65 | KRW 52,125 – KRW 75,542 |
| Total Cost of utilities in South Korea | $100 – $300 | KRW 130,000 – KRW 390,000 |
Pros and Cons of Living in South Korea: Is it the Right Choice for You?
Pros of living in South Korea:
- Low crime rate – South Korea has one of the lowest crime rates in the world, making it a safe place to live.
- High standard of living – The quality of life in South Korea is high, with excellent healthcare, education, and infrastructure.
- Efficient public transportation – South Korea has a well-developed transportation system, including reliable, safe, safe, and affordable subways, buses, and trains.
- Excellent healthcare system – South Korea has a universal healthcare system that is affordable and provides high-quality medical care.
- Affordable cost of living – Despite being a developed country, the cost of living in South Korea is relatively affordable compared to other developed nations.
- Beautiful natural landscapes and cultural landmarks – South Korea is a country rich in natural beauty and cultural heritage, with numerous national parks, temples, and palaces.
- Advanced technology and infrastructure – South Korea is a technologically advanced country with a strong focus on innovation and development.
- Vibrant food and nightlife scenes – South Korea offers a diverse range of delicious food options and a vibrant nightlife scene.
- Strong sense of community and family values – South Koreans value family, community, and social connections creating a supportive and caring environment.
- Opportunities to learn the Korean language and culture – Living in South Korea provides opportunities to learn the Korean language and immerse oneself in Korean culture.
Cons of living in South Korea:
- High levels of air pollution in some areas – South Korea experiences high levels of air pollution in some areas, particularly during certain seasons.
- Competitive job market – The job market in South Korea is highly competitive, making it challenging to find employment.
- Limited English proficiency in some areas – While many Koreans speak English, there are areas where English proficiency is limited, making communication difficult for foreigners.
- Strict social hierarchies and pressure to conform – South Korea has strict social hierarchies and a strong emphasis on conformity, which can be challenging for individuals who value individuality and diversity.
- Long working hours and high stress levels – The work culture in South Korea is known for its long working hours and high stress levels, leading to burnout and health issues.
- Limited personal space in public areas – South Korea is a densely populated country, and personal space in public areas can be limited, making it challenging for those who value privacy.
- Strict laws and regulations – South Korea has strict laws and regulations, which can be challenging for foreigners to navigate.
- Culture shock for foreigners – Living in a foreign country can be challenging, and adjusting to Korean culture and customs can be overwhelming for some.
- Harsh winters with heavy snowfall – South Korea experiences cold winters with heavy snowfall, which can be difficult for those who are not accustomed to such weather.
- It is hard to learn Korean – Korean is a difficult language, and many foreigners struggle with mastering it.
- Close to Geopolitical Conflict with North Korea – South Korea is located close to North Korea, which can be a source of tension and geopolitical conflict.
Pros and Cons of Living in South Korea Table:
| Pros of living in South Korea | Cons of living in South Korea |
|---|---|
| Low crime rate | High levels of air pollution in some areas |
| High standard of living | Competitive job market |
| Efficient public transportation | Limited English proficiency in some areas |
| Excellent healthcare system | Strict social hierarchies and pressure to conform |
| Affordable cost of living | Long working hours and high stress levels |
| Beautiful natural landscapes and cultural landmarks | Limited personal space in public areas |
| Advanced technology and infrastructure | Strict laws and regulations |
| Vibrant food and nightlife scenes | Culture shock for foreigners |
| Strong sense of community and family values | Harsh winters with heavy snowfall |
| Opportunities to learn the Korean language and culture | Hard to learn the Korean Language |
| Emphasis on education and intellectual growth | Close to Geopolitical Conflict with North Korea |
Cost of Healthcare in South Korea
Medical care in South Korea is World Class and definitely reliable.
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We suggest you also have it, especially if you live as an expat and digital nomad in South Korea. We always use SafetyWing for international travel insurance and medical concerns. They start at $45 a month! It’s incredible and always reliable!
Cost of Taxes in South Korea by Percentage
Here is in-depth information for the cost of Taxes in South Korea for each type of Tax and make sure to contact a local South Korean Tax Professional for more Information:
Individual Income Tax in South Korea
- Tax Type: Individual Income Tax
- Tax Rate: 6% – 46%
- Important Information:
- Progressive tax rates from 6% to 46% based on taxable income.
- Top rate of 46% applies to income over KRW 500 million.
- Deductions and exemptions available.
Value Added Tax (VAT) in South Korea
- Tax Type: Value Added Tax (VAT)
- Tax Rate: 10%
- Important Information:
- Levied on supply of most goods and services.
- Standard VAT rate is 10% since 2014.
- Essentials like unprocessed food exempt.
Corporate Income Tax in South Korea
- Tax Type: Corporate Income Tax
- Tax Rate: 10% – 25%
- Important Information:
- Standard rate is 25% for most companies.
- Reduced 10% rate for SMEs on first KRW 200 million taxable income.
- Tax incentives for new growth industries.
Property Tax in South Korea
- Tax Type: Property Tax
- Tax Rate: 0.2% – 5%
- Important Information:
- Local tax levied annually on property ownership.
- Rates from 0.2% to 5% depending on type of property.
- Exemptions for low-income households.
Customs Duties in South Korea
- Tax Type: Customs Duties
- Tax Rate: 3% – 20%
- Important Information:
- Levied on imported goods into South Korea.
- Rates from 3% to 20% depending on product type.
- FTAs with US, EU, ASEAN reduce rates.
Table of Tax Rates in South Korea
| Tax Type in South Korea | Tax Rate in South Korea |
|---|---|
| Individual Income Tax | 6% – 46% |
| Value Added Tax (VAT) | 10% |
| Corporate Income Tax | 10% – 25% |
| Property Tax | 0.2% – 5% |
| Customs Duties | 3% – 20% |
Main FAQS Section About South Korea:
What is the monthly cost of living in South Korea?
The cost of living in South Korea on average, is around $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month. This includes rent, food, transportation, and other costs like utilities and phone bills.
What is the Cost Of Living in South Korea Vs USA?
The Cost Of Living in South Korea is around 57% cheaper than living in New York City, USA, and the average monthly Cost of living in South Korea is $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month. in South Korea vs $5500 to $10380 per month living in New York City, United States.
What is the Cost of Accommodation in South Korea?
The Cost of Accommodation in South Korea costs around $200 to $4,000 per month. from a simple studio to a Luxury 3+ bedroom Condo
What is the best time of year to visit South Korea?
The best time to visit South Korea is during the summer and fall season from April to November.
How Much does it cost to live in South Korea?
On average, living in South Korea costs around $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month.
What is the Cost of Utilities in South Korea?
The Cost of Utilities in South Korea Cost around $100 to $300 per month, depending on your energy consumption!
What is the Cost of Food in South Korea vs USA?
The Cost Of Food in South Korea is 25% cheaper than in New York, United States. Monthly Food Costs in South Korea is from $250 to $1200 per month.
What is the Cost Of Rent in South Korea VS USA?
The Cost of Rent in South Korea is 57% cheaper Than in New York, United States A 1 bedroom apartment in South Korea costs $350 to $1000 per month on average, and 1 bedroom Apartment in New York City, United States, Costs over $2890 per month.
What is the Food Expenses In South Korea?
The Food expenses in South Korea is from $300 to $1200 per month. Make sure to eat the local Food, local Food markets and supermarkets to save money.
What is the Rental Expenses In South Korea?
The monthly rent for a 1-bedroom in South Korea is from $350 to $1000.
What is the Expenses for a Single Person in South Korea?
The Expenses for a Single Person in South Korea is from $870 – $4,050 (KRW 950,000 – 5.30 million KRW) Per Month for all expenses.
What is the average cost of Rent In South Korea?
The Average cost of rent in South Korea is around $250 to $1,000 Per Month in South Korea.
What is the average Cost of Transportation In South Korea?
The average cost of transportation in South Korea is about $2 – $30 USD per day or $50 to $300 per month, Depending if you use a subway, High Speed rail, and Scooter.
What is the Cost of Mobile Phone SIM and Internet Data In South Korea?
The Cost of Phone Data and internet from in South Korea is around $15 to $100 per month.
What is the Cost of Food in South Korea?
The Cost of Food in South Korea costs around $300 to $1200 per month; try to eat at the local restaurants and street food for the best and cheapest food to stay on budget!
Is South Korea a good place to live?
Yes, South Korea regularly ranks as one of the Safest Countries in the world! but of course, it is extremely expensive and you always need to watch what you are doing and keep safety of mind as you would anywhere in the world.
Is it expensive to live in South Korea?
No, it is not expensive to Live in South Korea you can expect to spend $1,000 to $2,000 per month if you live on a budget and don’t do tourist things. I recommend renting a studio, eating local food, renting a bicycle or scooter, and shopping at the local markets. If you do this you will save a lot of money!
What is the average salary in South Korea?
The average salary in South Korea is around 4,600,000 KRW (South Korean won) per month, which is approximately $3,910 USD per month.
What is a good salary to live in South Korea?
A great Salary to live on in South Korea is around $3000 – $4,000 per month. This will cover all expenses.
Cost Of Living in South Korea Conclusion
We hope that you have found this blog post helpful! We went all out and summarized the cost of living in South Korea and provided a table of expenses, information on rent, accommodation, food costs, videos, Facebook Groups, Tourism Boards and more from our time living there as digital nomads!
We will be continually updating this blog post! Also, below are many excellent travel resources that will help you in your Journey around the world and helping you on your journey to South Korea!
Related Posts for South Korea:
Travel Resources and Reliable Sources For South Korea
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