The Cost of Living in South Korea for Expatriates

Published on January 17, 2026 and written by Cyril Jarnias

Living in South Korea is a dream for many expats: economic dynamism, a cultural scene propelled by K-pop and K-dramas, ultra-efficient transportation, high safety. But one question always comes up before departure: how much does it really cost to live there day-to-day?

General Cost of Living Overview for an Expat

Across the country, a single expat is estimated to spend on average between 652,000 ₩ (approx. $470) and 1.6 million ₩ per month, excluding rent for the lowest figures, rent included for the higher figures in large cities. For a family of four, monthly expenses excluding rent are around 2.3 million ₩ (approx. $1,650).

The country ranks in the high-average range for Asia but remains, overall, more affordable than Singapore or major Japanese cities, while being more expensive than China or India. Compared to France, the cost of living is estimated to be about 3% lower, even though French purchasing power remains slightly higher.

Seoul, Busan, Incheon: Three Faces of the Expat Budget

The cost of living in South Korea depends heavily on the city and neighborhood. Seoul tops the list of the country’s most expensive cities, but the gap with other metropolises like Busan or Incheon is significant, especially for rent.

Quick Comparison of Major Cities

Here is a summary table for a single expat, including rent and utilities, in three major cities:

City	Approx. Total Monthly Cost	Rent + Utilities (1 person)	National Rank (cost)	Global Rank (Livingcost.org)
Seoul	≈ 1,600,000 ₩ (≈ $1,411)	≈ 743,000 ₩ (≈ $657)	1st out of 87	2788th out of 9294
Busan	≈ 1,356,000 ₩ (≈ $1,194)	≈ 476,000 ₩ (≈ $422)	among the most expensive	~ mid-ranking
Incheon	≈ 1,344,000 ₩ (≈ $1,184)	≈ 454,000 ₩ (≈ $402)	very high	comparable to Busan

The weight of housing costs is immediately apparent: at a similar standard of living, Busan and Incheon allow for a significantly lower rent budget compared to Seoul.

Detailed Breakdown of Expense Categories in Seoul, Busan, and Incheon

Another set of data allows for a finer comparison of the monthly budget structure by category (housing, food, transportation, etc.):

Category	Seoul (₩ / month)	Busan (₩ / month)	Incheon (₩ / month)
Housing (rent)	300,000 to 1,000,000+	≈ 476,000	≈ 454,000
Utilities (average)	≈ 160,000	≈ 160,000	≈ 160,000
Food / restaurants	≈ 500,000	≈ 450,000	≈ 450,000
Transportation	≈ 70,000	≈ 60,000	≈ 60,000
Health (routine)	≈ 150,000	≈ 150,000	≈ 150,000
Leisure	≈ 150,000	≈ 120,000	≈ 120,000
Total approx.	≈ 1,600,000	≈ 1,356,000	≈ 1,344,000

In all three cities, the budget structure remains similar: housing and food form the foundation of expenses, but the rent portion is clearly heavier in Seoul.

Housing: The Real Battlefield

For expats, the housing category is by far the most sensitive. It’s what pushes Seoul into the top 30% of the world’s most expensive cities. Not only are rents high in central neighborhoods, but the security deposit system (the famous “key money”) can be surprising.

Types of Housing and Market Realities

In major Korean cities, almost all residents live in apartments. Single-family homes with gardens are very rare and are generally reserved for very high-income earners (CEOs of large corporations, famous actors…) or for suburban and rural areas.

The main types of properties expats will encounter:

– standard apartments, of varying sizes, often in large complexes;

– officetels, studio or small 1/2 bedroom units that can combine residential and professional use, very common among young professionals;

– villas (billa), small buildings under six floors, often older, slightly away from centers, without elevators but more spacious and often cheaper;

– goshiwon, micro-furnished rooms with a private or shared bathroom, very popular with students and workers on a tight budget;

– shared houses or co-living arrangements, which are gaining popularity among young people and expats.

The size is usually expressed in pyeong (평), a unit specific to Korea: 1 pyeong corresponds to approximately 3.3 m². Note: listings sometimes include common areas and balconies in this calculation.

Rent Levels in Seoul and the Rest of the Country

Figures vary depending on the source, but all converge on the same idea: Seoul is significantly more expensive than other Korean cities, with significant gaps depending on the neighborhood.

For a one-bedroom apartment:

In other major cities, the levels are more moderate:

– Busan: a 1-bedroom in the city center is around 650,000 ₩, and a studio in a lively neighborhood like Seomyeon or near Gwangalli Beach is often found between 450,000 and 650,000 ₩;

– Incheon: a 1-bedroom in the city center averages around 525,000 ₩, and about 375,000 ₩ outside the center;

– Daegu or Daejeon: you can find one-bedroom apartments in the city center for around $400 per month, sometimes less.

Nationally, the following averages stand out for apartments:

Apartment Type	City Center (average)	Outskirts (average)
1 bedroom	≈ 720,000 ₩	≈ 490,000 ₩
3 bedrooms	≈ 2,150,000 ₩	≈ 1,250,000 ₩

This provides a solid reference point for gauging future rent, although the quality of the building, year of construction, and proximity to transportation affect the final price.

Real Estate Purchase: A Very Tense Market

Purchasing property is possible for foreigners and is not administratively more complicated than for locals. However, it is extremely expensive in large urban areas, to the point where most expats settle for renting.

In Seoul, the average prices cited for purchasing an apartment are around:

– 25 million ₩ per m² in central urban areas (approx. $19,000);

– 14 million ₩ per m² outside the center (approx. $10,000).

The Deposit System: Wolse, Jeonse, and Banjeonse

The Korean rental system can be confusing for a newcomer. Three main formulas dominate:

– wolse: this is the equivalent of the classic Western system. You pay a security deposit (often equivalent to two months’ rent, but sometimes 5 to 10 million ₩ or more), then pay monthly rent. The deposit is refunded at the end of the lease if the property is returned in good condition;

– jeonse: a typically Korean system, where the tenant pays a huge deposit — often 50 to 80% of the property’s value, meaning tens or even hundreds of millions of ₩ — and then pays little or no monthly rent. The landlord invests this capital and returns it at the end of the lease. This mechanism, heavily regulated by law, is common among locals but remains less accessible to expats, due to insufficient borrowing capacity;

– banjeonse: a hybrid formula with a significant deposit (but lower than jeonse) and reduced rent.

Listings typically display the deposit amount followed by the rent, for example “500/45” for a 5 million ₩ deposit and 450,000 ₩ monthly rent. You can negotiate by playing with this ratio: the more “key money” you put down, the more you can try to lower the rent.

For a small studio in an officetel, a common deposit is 5 to 10 million ₩, sometimes more in popular neighborhoods. At the extreme, some luxury apartments may require deposits exceeding 200 million ₩ under jeonse.

Additional Fees: Maintenance and Utilities

In addition to rent, you must account for gwanlibi, the building maintenance fees. They generally cover security, cleaning, elevators, sometimes internet or cable TV. The average is around 100,000 ₩ per month.

Finding Housing: Timelines, Procedures, and Pitfalls

The rental market is fast: in Seoul as in other cities, you can find an apartment in one to two weeks, sometimes less. It’s recommended to start viewings about a month before your desired move-in date.

Most agencies and listing sites operate in Korean. The language barrier is real for negotiating, understanding the contract, or spotting important clauses. However, there are English-speaking agents, to be sought out in advance, especially in neighborhoods frequented by foreigners.

Documents typically requested:

– valid passport and visa;

– Alien Registration Card (ARC);

– proof of employment and income (employment contract, pay slips, or bank statements);

– for students, enrollment certificate and student ID.

Without employment in Korea, you can still rent, but you’ll often need to provide additional guarantees, even a local guarantor. Some expats start with an Airbnb or a serviced apartment for a month while looking for a long-term lease.

Scams exist: offers that seem too good to be true, requests to wire the deposit before signing the contract, pushy landlords. The same cautionary rules apply as elsewhere: in-person viewing, written contract, payment via traceable channels, presence of a reputable agent.

Utilities and Bills: A Manageable Expense, But Variable by Season

The costs for gas, electricity, water, internet, and phone service are generally reasonable in South Korea, especially compared to local salary levels. But certain seasonal peaks (underfloor heating in winter, air conditioning in summer) can be surprising.

Electricity, Gas, Water: How Much to Budget?

Estimates vary based on apartment size, number of occupants, and consumption habits, but some guidelines can be drawn:

Overall, “basic” utility bills (electricity, heating, water, garbage) for an 85 m² apartment can range between 150,000 and 350,000 ₩, with an average around 220,000–250,000 ₩ according to several sources. For a studio of about 45 m², it’s more around 115,000–130,000 ₩.

Internet, Phone, and TV

South Korea is famous for its fast internet. And the good news is that this performance doesn’t cost particularly much.

For a standard household, you typically find the following prices:

– high-speed internet subscription (60 Mbps or more, unlimited data): 30,000 to 50,000 ₩ per month, some sources mention even around 30,500 ₩ (≈ $21);

– smartphone plan with calls and about 10 GB of data: 30,000 to 40,000 ₩ per month, sometimes a bit more for “unlimited” or premium plans;

– internet + cable TV bundle: often in the 30,000–50,000 ₩ range, depending on options and providers.

How Are Bills Paid?

Bills are usually issued monthly, sometimes every two months for gas, by the electricity company (KEPCO), gas company, or municipalities (water). They arrive:

– by paper mail in the mailbox;

– or by SMS / notification via app;

– or through the online banking system.

Possible payment methods:

– Korean banking app;

– payment at a bank counter or ATM;

– payment at convenience stores (CU, GS25, 7‑Eleven, Emart24);

– automatic debit.

Bills are in Korean, but KEPCO or municipal service hotlines often offer English assistance. Foreigners without a Korean bank account can manage by paying cash at convenience stores or asking their landlord for help.

Transportation: A Clear Budget Strength

For an expat, public transportation is one of the best value-for-money aspects of living in South Korea. Subways, buses, high-speed trains, affordable taxis: everything works to reduce the need for a personal car, even for families.

Subway and Bus: Cheap, Reliable, and Omnipresent

In major cities like Seoul, Busan, Incheon, Daegu, or Daejeon, subway and bus networks cover almost all neighborhoods. Payment is mostly via a rechargeable transportation card (T‑money, Cashbee, etc.), used in a “tap & go” fashion.

In Seoul, fares are structured quite simply:

– basic subway or bus trip: between 1,250 and 2,000 ₩ depending on distance and line type, most urban trips remaining around 1,400–1,500 ₩;

– free transfer system between bus and subway within a certain time limit (generally 30 minutes, 1 hour at night);

– discount of about 100 ₩ per trip if using a transportation card instead of cash.

Buses are color-coded and priced according to their role:

– blue and green buses: main and neighborhood lines, around 1,500 ₩;

– yellow buses (circular): about 1,400 ₩;

– red express buses: about 3,000 ₩;

– night buses: around 2,500 ₩.

Trains and Long-Distance Buses

For intercity travel, the country has:

– the KTX, high-speed train connecting Seoul to Busan in a little over two hours, for a ticket around 50,000–60,000 ₩;

– slower regional trains that are cheaper, where a Seoul–Busan trip can be around 28,000 ₩;

– comfortable express bus networks, often a bit cheaper than the KTX: a Seoul–Busan trip is commonly found between 20,000 and 30,000 ₩.

Frequent travelers can purchase a Korea Rail Pass (KR Pass) offering several days of unlimited travel on the KTX, with flexible options (2 days, 4 days, etc.) between 121,000 and 210,000 ₩ depending on duration.

Taxis: Good Value for Short Trips

Korean taxis remain cheap compared to those in London, New York, or Singapore. In Seoul, the fare generally starts around 4,800 ₩ for about 1.6 km, then the meter increases with distance and time.

In international comparisons, a kilometer by taxi in South Korea is about 67% cheaper than in the United States, and an hour of waiting time costs about $8.2, well below major Western capitals.

Apps like Kakao T or UT (Uber’s Korean version) make ordering and paying easier, even without speaking Korean.

Personal Car: A Luxury Rarely Necessary

With a liter of gasoline around 1,650 ₩ (≈ $1.13) and additional costs (insurance, maintenance, parking), owning a car is possible but rarely necessary in large cities. Most expats do without, especially in Seoul, where public transportation is very efficient.

An expat choosing to own a car could budget around 220,000 ₩ per month for fuel + insurance + maintenance, depending on usage. For the vast majority, this expense can be brought down to zero.

Food: Eat Local to Live Well and Cheaply

On the food front, South Korea holds a pleasant surprise for expats willing to “live like a local”. Eating Korean, frequenting small neighborhood restaurants and markets is often more economical than cooking at home, especially when living alone.

Eating Out: From Cheap Street Food to High-End Restaurants

The spectrum of restaurant prices is very wide, but we can identify several levels:

– very cheap eats: gimbap, soups, simple dishes between 1,000 and 3,000 ₩ — perfect for a snack or ultra-budget lunch;

– small local restaurant: a simple dish often costs between 5,000 and 7,000 ₩ (ramyeon, varied kimbap, tofu soup, etc.);

– standard Korean restaurant: most full meals are between 10,000 and 15,000 ₩ per person (bibimbap, jjigae, basic barbecue, etc.);

– foreign restaurant: the bill easily rises to 20,000 ₩ or more per person, especially for Western cuisine or trendy restaurants.

Concretely, some examples of typical prices:

International fast food (McDonald’s & co.) is often around 7,000–10,000 ₩ for a meal. A meal at a mid-range restaurant for two people, appetizer–main–dessert, is frequently charged 40,000–60,000 ₩.

Compared to the United States, a meal at an inexpensive restaurant in South Korea is about 65% cheaper, and a fast-food combo meal costs almost half as much.

Grocery Shopping: Watch Out for Fruit and Imported Products

For those who prefer to cook, or for families, the supermarket and neighborhood markets become essential. Prices remain reasonable for many staples, but some items — notably fruit, beef, or imported products — can quickly inflate the bill.

Some average price guidelines:

– milk (1 L): around 2,900–3,000 ₩;

– rice (1 kg): about 4,600 ₩;

– eggs (12): about 4,500–5,700 ₩;

– chicken (1 kg): between 12,000 and 14,500 ₩;

– beef (1 kg, round): often over 40,000–50,000 ₩;

– apples (1 kg): about 9,000–10,700 ₩;

– bananas (1 kg): 3,000–4,800 ₩;

– potatoes (1 kg): about 5,000–5,600 ₩.

Fruit is regularly cited as particularly expensive, especially if you consume a lot of fresh fruit daily. As for typically Western products (cheese, cold cuts, special breads, specialty coffee), they carry prices significantly higher than in the US or Europe.

Supermarkets, Markets, and Convenience Stores

The type of store also affects the food budget:

– major chains (E‑Mart, Lotte Mart, Homeplus): wide selection but not always the cheapest on everything;

– traditional markets: often 30 to 50% cheaper than supermarkets for vegetables, fish, or certain meats;

– convenience stores (GS25, CU, 7‑Eleven, Emart24): perfect for quick meals (kimbap, ramyeon, bento for 3,000–8,000 ₩), but a bit more expensive for staples.

For a single expat who alternates eating at cheap restaurants, street food, and basic groceries, a monthly budget of around 300,000 to 500,000 ₩ is common. For a family, these amounts will quickly be exceeded if you consume many imported products.

Health: A High-Performance System, Manageable Costs but Need to Plan

South Korea has a very high-level healthcare system, with universal access to care via the National Health Insurance (NHI). For expats, this translates into a combination of mandatory contributions and relatively modest co-payments for most procedures.

National Health Insurance: Mandatory After Six Months

Any foreign resident staying more than six months in South Korea must enroll in the NHI. The contribution, often deducted directly from salary, is around 5 to 7% of gross income, shared between employer and employee. In practice, many expats pay between 100,000 and 120,000 ₩ per month in contributions.

The NHI typically covers 50 to 80% of medical costs, depending on the type of procedure and care category. The rest is the patient’s responsibility as a co-payment:

Hospitalization is not free, but rates remain contained:

– private room: 200,000 to 480,000 ₩ per night;

– semi-private room: 50,000 to 150,000 ₩ per night;

– general ward: around 200,000 ₩.

For surgery, the gross costs are higher: about 3.5 million ₩ for an appendectomy, nearly 10 million for gallbladder removal, between 14 and 35 million ₩ for a knee replacement, up to 25 million for a hip. The portion actually paid by the patient depends on coverage (public and, if applicable, private).

Private Supplementary Insurance

Given these amounts, many expats opt for private supplementary insurance (e.g., via Allianz, Cigna, or other international insurers). This type of policy, which covers the patient’s share or offers additional benefits (repatriation, care at international clinics, etc.), often costs between 100,000 and 200,000 ₩ per month depending on age and health status.

Health Budget in Daily Life

For a healthy expat, a realistic monthly health budget includes:

– the NHI contribution: around 100,000–120,000 ₩;

– a few doctor visits and common medications: 20,000–50,000 ₩ on average if you rarely see a doctor;

– possibly private insurance: 100,000–200,000 ₩.

In cost of living estimates for Seoul, Busan, or Incheon, you often find a “health” line of around 150,000 ₩ per month for an adult. This expense obviously increases in case of chronic illness or surgery.

Leisure, Clothing, and Social Life

Leisure, culture, and social life are far from overpriced in South Korea, allowing you to fully enjoy the experience without blowing your monthly budget.

Movies, Sports, Outings

Some orders of magnitude:

– movie ticket: 10,000 to 12,000 ₩, plus easily 10,000 ₩ for snacks if you indulge;

– baseball or soccer match: tickets from 10,000 ₩ for the cheapest seats;

– gym membership: from 30,000 to 100,000 ₩ per month, with an average around 70,000–80,000 ₩ in central neighborhoods.

Noraebang (karaoke rooms) are a national pastime: coin-operated booths often cost 1,000 ₩ for three songs, allowing for a cheap night out with friends.

Clothing and Consumer Goods

For clothing, the spectrum is wide. You can find: men’s clothing, women’s clothing, children’s clothing, sportswear, formal wear, work clothes, fashion accessories, shoes, outerwear, cotton clothing, wool clothing.

– T‑shirts for around 5,000 ₩ at some markets or in small shops;

– jeans for around 20,000 ₩ for basic ranges;

– international brands (Levi’s, Nike, Adidas) are much more expensive, with Levi’s jeans possibly over 70,000 ₩ and sports sneakers often above 100,000 ₩.

Everyday consumer goods are generally affordable: a tube of toothpaste is around 1,900 ₩, a pack of four toilet paper rolls about 4,800 ₩, liquid laundry detergent (3 L) around 8,300 ₩. A simple haircut at a neighborhood salon can cost less than 10,000 ₩; at a salon frequented by expats, it’s more like 25,000 to 30,000 ₩ or more.

Salary Needed to Live Comfortably

What should the monthly salary be for an expat to live comfortably in South Korea? Studies converge on a few benchmarks:

The average salary in South Korea is generally between 3.5 and 4.5 million ₩ per month, with strong disparities between sectors (finance, technology, engineering at the top, for example). An English teaching contract often ranges between 1.86 and 3 million ₩, but frequently includes housing or a housing allowance, and sometimes airfare.

It’s possible to live on a budget of 1 million ₩ per month, but that assumes living in a small town or rural area, opting for a goshiwon or shared housing, eating almost exclusively local food, and avoiding expensive leisure activities. In Seoul, such a budget would be extremely tight.

International Students and Families: Specific Constraints

For foreign students, South Korea is an attractive academic destination, with tuition fees that are rather competitive compared to North America or the United Kingdom, but a cost of living significantly higher than in India or many Southeast Asian countries.

Cost studies mention for an international student:

For families with children attending international schools, the equation changes radically: annual tuition fees often range between 20 and 40 million ₩ per child, sometimes more at certain prestigious schools in Seoul or on Jeju Island. These amounts are not included in average cost of living budgets and must be calculated separately. For many expat families, these fees are partially or fully covered by the employer.

Is South Korea Expensive for an Expat?

The answer depends on the city chosen, lifestyle, and income level.

– Seoul is undeniably expensive for housing, especially in its central and trendy neighborhoods. Security deposits and prices per square meter place it at the level of many major world metropolises.

– On the other hand, most daily expenses — public transportation, street food, small Korean restaurants, popular leisure activities, internet — remain very affordable, sometimes significantly more so than in Western countries.

– Busan, Incheon, Daegu, Daejeon, or Gwangju offer an interesting compromise: a comfortable standard of living, lower rents, and access to modern infrastructure, while being less saturated than the capital.

– Finally, in small towns and rural areas, the cost of living drops significantly, at the price of a more limited cultural and job offer.

By “living Korean style” — meaning prioritizing local food, heavily using public transportation, choosing reasonable housing outside the most prestigious neighborhoods, and adopting a few energy-saving tricks — an expat can live very decently in South Korea without blowing their budget.

Conversely, maintaining a purely Western lifestyle (consuming mostly imported products, living in a large apartment in the heart of Gangnam, taking many taxis and plane trips, enrolling children in international school) will quickly turn South Korea into a high-end destination.

The essential thing is therefore to approach this project with a realistic budget:

In summary, South Korea is not the cheapest country in Asia, but its excellent infrastructure level, safety, quality healthcare system, and moderation of many daily costs make it a perfectly accessible destination for a well-prepared expat, especially if one is willing to work with the specificities of the housing and security deposit system.