The Cost of Living in Korea

The cost of living in Korea is quite low, especially when you take into consideration that most schools and institutes will pay for your apartment each month. This factor means that you may be able to save more money in Korea than you would in countries such as Japan, Taiwan or Thailand. The cost of living is an important factor when deciding which country to work in. Because of the low cost of living here, there are many Canadians and Americans working here and paying off their student loans, the cost of living in Korea enables them to live a comfortable life and save money.

Rent in Korea

Rent in Korea would be your biggest living expense.  However, if you are working in Korea as a teacher then your school will provide you with an apartment free of charge.   

Utilities:

Approx. 70,000 per month for electricity, water, TV and gas although this can vary depending on your lifestyle. Internet connection is really fast and will set you back about 30,000.

Food:

All apartments in Korea come with a kitchen so cooking your own food is normally the cheapest option. If you eat at home everyday then expect to pay about 250,000 per month. Restaurants are fairly cheap in Korea and the food is fairly good. Expect to pay between 5,000 - 10,000 per person. 

• Alternative Food: If you have a craving for European food there are very few options in the smaller cities though the bigger cities normally have the usual array of fast food restaurants. A big mac meal in Mcdonalds will cost about 4,500 and a twister meal in KFC will also cost about 4500. Koreans enjoy eating spaghetti and pizza so even the smaller towns will have restaurants the serve these dishes, I'm fairly sure that most small towns will have a Mr Pizza delivery store. They make good quality food and are also cheaper than pizza hut. Expect to pay 5-7,000 for a plate of spaghetti and 12,000 for a large pizza. In Seoul there are many foreign food restaurants (especially in Itaewon). I have found these meals to be over-priced and the quality of the food is not that great. You are better off cooking at home.

Drinks:

• Soft Drinks - from 400/700 for a can in a shop, up to 3,000 a glass or more in an expensive bar or restaurant.
• Beer - ranges from 1,500 to 1,800 for a large bottle of Korean beer in supermarkets (depending on brand). In a restaurant or bar expect to pay from 2,000 to 3,000 for a large bottle and in more up-market places anything from 5,000 for a small bottle of beer upwards. Imported beers can be really expensive. In Itaewon a bottle of imported beer will cost you about 5,000 Won. Some beers will cost as much as 12,000 Won.
• Spirits - A bottle of Chivas regal will cost you 42,000 won for a big one from a supermarket. In a bar it will cost between 70,000 to 260,000. A bottle of soju from a supermarket will cost you 800-1000 for a small bottle. In a bar, it will cast you about 3,000 Won.
• Wine - A bottle of wine in a supermarket will cost 5,000 upwards depending on whether it is Korean or imported. Koreans don't often drink western wines so they are really expensive here.

Transport:

• Buses - The bus system in the cities is pretty good. Expect to pay about 700-900 won for a 20 minute journey. In Seoul there are two types of buses. Local buses and long distance buses. Local buses cost about 450 Won for a journey and long distance buses within the city will cost you about 700-900 won. When you pay for either type of bus, the cost is the same no matter what distance you go. e.g. if you go one stop away or 20 stops away you will pay the same price.
• Taxis - flag fall is between 1,300-1,600 and the about 500 for every KM after that. If you have any problems with a taxi driver then ask them for a receipt, this contains all of their details, ask a Korean friend to complain and they will be able to do so with all of the information needed.
• Subway - There are subway systems in Seoul, Pusan and Daegu. The one in Seoul is very good and effective. The price is 800 for most distances but if you travel to one of Seoul's outer cities it could cost you as much as 1400 won. When planning your trip on the subway it is useful to know that it takes about 2 minutes to travel between each stop.

Clothing

Again, a wide range of makes, both local and imported are available with prices often relative to quality and/or brand name. As in Europe prices vary widely depending on where you buy!

Local goods:

• Work shirt - 10,000 - 50,000
• Work trousers - 15,000 - 60,000
• Skirts - 10,000 - 70,000. ¡¤ T-shirts - range from 8,000 upwards.

·         There are many outlet stores in Seoul and these can be found in a number of places. Dongdaemun is a very good place to find cheap clothing and if you go to Dongdaemun in the night-time you will find the night market which is where store owners buy the clothes to re-sell.

Toiletries & Pharmaceutical Products

A wide range of local and imported brands available. (all prices approx.)

• Soap - 1,000
• Shampoo - 6,000 for a pack of two
• Toothpaste - 2,000
• Toothbrushes - 1,800
• Toilet paper - 2,500 for ten
• Deodorant - 11,000 (Koreans do not use deodorant and so it is very hard to buy and very expensive.)

Electrical Goods

·          TV (12 or 14 inch) - 200,00,

·          Video players - 100,000

·          CD players - 100,000

·          Videotape rentals are very cheap - 1,000 - 2,000

·          C. D.'s are around 15,000

·          Cable TV is around 30,000 a month for the full package, but as cheap as 5,000 for a simple one.

Miscellaneous

Cigarettes - local brands around 2,000 imported (e.g. Dunhill 2,500)

• Haircut - 7,000 for a man and about 60,000 for a woman.
• Books - relatively expensive, from around 10,000 to 20,000 Won.

o        In general, Korea is not an expensive place to live. It is easy to save money there and you can have a good lifestyle. If you are an ESL/EFL teacher and you find yourself joining young adult students for dinner at a restaurant or drinking with them at a bar they will not let you pay for anything as you are the teacher. This is always nice, but it is also normal in Korea to try and pay the bill. There will often be a good natured bustle over who is going to pay for the drinks but normally the most senior person will pay.