South Korea is a modern, fast-paced country that attracts students, professionals, and digital nomads from around the world. Whether you’re planning to move, stay long-term, or are just curious, one of the first questions you’ll likely ask is: How much does it actually cost to live in South Korea?
In this post, we break down the cost of living in South Korea, focusing on the capital city of Seoul as well as smaller cities like Busan, Daegu, and Gwangju.
1. Housing Costs
Seoul
Rent is by far the biggest expense in Seoul. In the city center, you can expect to pay anywhere from ₩900,000 to ₩1.5 million KRW ($650–$1,100 USD) per month for a one-bedroom apartment. If you move farther from the center, prices drop to around ₩600,000 KRW.
Other Cities
Outside of Seoul, housing is much more affordable. In cities like Daegu or Gwangju, you can find a clean one-bedroom apartment for ₩400,000 to ₩700,000 KRW. Some long-term residents in smaller cities pay even less by choosing older units or shared housing.
Tip: Korea also has a unique housing system called Jeonse, where tenants pay a large deposit—often tens of thousands of dollars—and pay little to no monthly rent. It’s not for everyone, but it can save money over time.
2. Food & Groceries
Dining Out
It’s easy—and tempting—to eat out in Korea. A typical Korean meal at a casual restaurant costs about ₩8,000–₩12,000 KRW ($6–$9 USD). Street food like tteokbokki or kimbap can be as cheap as ₩2,000 KRW.
Groceries
Shopping for groceries can get expensive, especially when buying imported items. A loaf of bread might cost ₩3,000–₩5,000 KRW, and cheese is even pricier. However, local staples like vegetables, tofu, rice, and Korean snacks are affordable.
If you cook regularly, expect to spend around ₩300,000–₩500,000 KRW per month.
3. Transportation
South Korea has one of the most efficient and affordable public transportation systems in the world.
- Subway/bus fare: ₩1,400–₩1,800 KRW per ride
- Monthly transit pass in Seoul: about ₩65,000 KRW
- Taxis: Base fare is around ₩4,800 KRW in Seoul and slightly lower in other cities
Even if you travel frequently, most people spend under ₩100,000 KRW per month on transportation.
4. Utilities & Internet
Utilities—including electricity, water, and gas—typically cost:
- ₩100,000–₩200,000 KRW monthly for a one-bedroom apartment
- More during summer and winter due to heating and A/C use
Internet is fast, reliable, and inexpensive:
- ₩25,000–₩40,000 KRW per month for high-speed broadband
5. Health Insurance & Medical Care
Foreigners staying over 6 months are required to enroll in Korea’s National Health Insurance system.
- Monthly cost: ₩120,000–₩150,000 KRW
- Doctor’s visit with insurance: ₩10,000–₩20,000 KRW
The healthcare system is modern, efficient, and affordable by global standards.
6. Entertainment & Extras
Here’s what to expect for leisure expenses:
- Movie ticket: ₩12,000 KRW
- Gym membership: ₩50,000–₩90,000 KRW/month
- Karaoke (noraebang): ₩20,000 KRW/hour for a private room
Optional expenses like streaming subscriptions, social outings, and weekend trips can add up—but you can easily manage a fun social life without overspending.
Total Monthly Cost: Quick Snapshot
| Location | Basic Monthly Living Cost (1 person) |
|---|---|
| Seoul | ₩1.6M–₩2.5M KRW ($1,200–$1,850 USD) |
| Busan | ₩1.2M–₩1.8M KRW ($900–$1,300 USD) |
| Daegu / Gwangju | ₩1.0M–₩1.6M KRW ($750–$1,200 USD) |
Final Thoughts
Living in South Korea—especially in Seoul—isn’t exactly cheap, but it’s not outrageously expensive either. In return, you get excellent infrastructure, fast internet, safe streets, and quality healthcare. And if you live outside of Seoul, your budget can stretch much further.
With smart housing choices and mindful spending, you can enjoy a comfortable lifestyle in Korea without breaking the bank.
