Living Cost in South Korea

Average living cost in Korea is quite fair. It is not as inexpensive as living in Laos or China, but it is also not as expensive as living in Japan or Singapore. Seoul, the nation’s capital, has, on average, the highest cost of living. Everywhere else, expats may anticipate earning a reasonable pay and saving a substantial portion of it without having to pinch pennies or live on a strict budget. When comparing South Korea’s cities, expats will find the highest cost of living in Seoul. However, this still does not mean that the cost of living in the capital city is exorbitantly high. Foreigners moving to the country have their choice of paying extra and living in expat-centric high-rises and compounds or you can live on the outskirts of the city in more local communities.

After Seoul, the other most expensive places in which to live in South Korea are Incheon, Jeju Island, and Busan. Below is a look at the average monthly living costs in Korea for each city. On a national level, a family of four can expect to spend an average of 2,300,000 KRW per month (2,000 USD) in living expenses (excluding rent). A single expat can expect to pay 652,000 KRW (560 USD) per month (excluding rent).