| Category | Cost |
|---|---|
| Apartment Rentals | For a one-bedroom apartment in the city center, the monthly rent is approximately 800,000 KRW to 1,200,000 KRW. For the same size apartment outside the city center, the rent is about 500,000 KRW to 800,000 KRW. |
| Apartment Purchases | The price per square meter to buy an apartment in the city center is around 10,000,000 KRW to 15,000,000 KRW. Outside the city center, the price drops to about 7,000,000 KRW to 10,000,000 KRW. |
| Transportation | A monthly transportation pass (regular price) is about 55,000 KRW. The starting tariff for a normal taxi is around 3,000 KRW, with an additional 1,000 KRW per kilometer. |
| Groceries | The average cost of a liter of milk is around 2,000 KRW, a loaf of fresh white bread is about 2,500 KRW, and a dozen eggs cost approximately 3,000 KRW. For fruits and vegetables, a kilogram of apples is about 5,000 KRW, a kilogram of bananas is around 3,000 KRW, and a kilogram of tomatoes is approximately 4,000 KRW. |
| Restaurants | A meal at an inexpensive restaurant is about 8,000 KRW, while a three-course meal for two people at a mid-range restaurant is around 50,000 KRW. A regular cappuccino costs approximately 4,500 KRW. |
| Utilities | Basic utilities for an 85m2 apartment, including electricity, heating, cooling, water, and garbage, cost around 150,000 KRW to 200,000 KRW per month. Internet (60 Mbps or more, unlimited data, Cable/ADSL) costs about 30,000 KRW per month. |
| Private School Tuition | For preschool, the average monthly tuition fee is around 500,000 KRW to 1,000,000 KRW. For elementary school, the average annual tuition fee is about 10,000,000 KRW to 20,000,000 KRW. For middle school, the average annual tuition fee is around 15,000,000 KRW to 25,000,000 KRW. For high school, the average annual tuition fee is approximately 20,000,000 KRW to 30,000,000 KRW. |
Monthly Budget for Retirees in Bundang
“The cost of living in Bundang, is considered to be relatively high compared to other parts of the country. This is largely due to its status as a popular and affluent suburb of Seoul, with high-quality infrastructure and amenities. Housing is the most significant expense, with rental prices for apartments being quite high, especially for larger or more modern units. The cost of food in Bundang is also slightly higher than the national average, but still affordable. Eating out at restaurants can range from reasonably priced local cuisine to more expensive international fare. Transportation costs are relatively low, with an efficient and affordable public transportation system. However, owning a car can be quite expensive due to high fuel costs and parking fees. Healthcare in Bundang is of a high standard, and while it is not cheap, it is still affordable for most residents, especially those with health insurance. Education costs can vary greatly, with public schools being much cheaper than private or international schools. Overall, while Bundang is more expensive than many other parts of Korea, it is still considered affordable compared to many major cities around the world,” said one expat living in Bundang.
Can I live in Bundang on $1,500 a month?
“I’ve been living in Bundang for a few years now and I can tell you that living on $1,500 a month is possible, but it will require some budgeting and sacrifices. Bundang is one of the more affluent areas in the Seoul metropolitan area, so the cost of living can be a bit higher compared to other parts of Korea. Rent is probably going to be your biggest expense. If you want to live in a more affordable neighborhood, I would recommend looking at apartments in the older parts of Bundang, like Jeongja-dong or Seohyeon-dong. These areas are a bit older, but they’re still very safe and have a lot of amenities nearby. You can probably find a small one-bedroom apartment for around $500-$600 a month. On the other hand, if you’re looking at newer, more upscale neighborhoods like Pangyo or Yatap, you’re probably looking at rents closer to $800-$1,000 a month. Food can also be quite affordable if you’re willing to eat like a local. There are plenty of cheap, delicious Korean restaurants where you can get a meal for around $5-$10. If you prefer to cook at home, groceries are also reasonably priced. However, if you’re craving Western food, it can be quite expensive. A meal at a Western-style restaurant can easily cost $20 or more, and imported groceries are also pricey. Transportation is quite affordable. The public transportation system in Korea is excellent and very cheap. A subway or bus ride will only cost you around $1. However, if you prefer to drive, keep in mind that gas prices and parking fees can add up. As for other expenses, utilities like electricity, water, and internet are quite reasonable, usually around $100-$150 a month. However, if you like to go out a lot, entertainment can be quite expensive. A movie ticket can cost around $10, and a night out drinking can easily cost $50 or more. So, to sum up, living on $1,500 a month in Bundang is doable, but it will require some sacrifices. You’ll probably need to live in an older neighborhood, eat local food, and limit your entertainment expenses. But if you’re willing to do that, you can definitely make it work,” commented an expat living in Bundang.
Can I live in Bundang on $3,500 a month?
“I’ve been living in Bundang for a few years now and I can tell you that it’s definitely possible to live comfortably on $3,000 a month, even if you’re used to modern amenities. Bundang is a satellite city of Seoul, so it’s a bit cheaper than the capital but still offers a high standard of living. The cost of living here is reasonable, especially when compared to cities like Seoul or Busan. For instance, a one-bedroom apartment in the city center would cost you around $700-$800 per month, while outside the city center, it would be around $500-$600. Utilities, including heating, electricity, and internet, would cost you around $150 per month. Groceries would be around $200-$300 per month, depending on your eating habits. Eating out at a mid-range restaurant would cost you around $20-$30 per meal. Public transportation is also quite affordable, with a monthly pass costing around $50. However, there are some sacrifices you might have to make. For instance, if you’re used to having a car, you might have to give that up as owning a car in Bundang can be quite expensive due to high fuel costs and parking fees. Also, if you’re a big fan of imported goods, you might have to cut back on that as they can be quite pricey here. In terms of neighborhoods, I would recommend looking at Jeongja-dong or Seohyeon-dong. These areas are quite affordable and have a good mix of local and expat residents. They also have a good number of restaurants, shops, and other amenities. On the other hand, I would avoid areas like Yatap-dong or Sunae-dong as they are more upscale and therefore more expensive. Overall, living in Bundang on $3,000 a month is definitely doable. You just need to budget wisely and be willing to make a few sacrifices. But in return, you get to live in a city with a high standard of living, modern amenities, and close proximity to Seoul,” said one expat living in Bundang.
Can I live in Bundang on $5,000 a month?
“I’ve been living in Bundang for a few years now and I can tell you that living on $5,000 a month is definitely doable, even with a taste for modern amenities. Bundang is a suburban area of Seongnam, in the Gyeonggi province, and it’s known for its high standard of living. It’s a bit more expensive than other parts of Korea, but it’s still affordable compared to many Western cities. The cost of living here can vary greatly depending on your lifestyle and where you choose to live. For example, if you choose to live in a luxury apartment in a prime location like Jeongja-dong or Seohyeon-dong, you could easily spend over $2,000 a month just on rent. But if you’re willing to live in a more modest apartment in a less central area like Yatap-dong or Sunae-dong, you could find a place for around $1,000 a month or even less. As for other expenses, food can be quite cheap if you eat local cuisine. A meal at a local restaurant usually costs around $6 to $10. But if you prefer Western food, it can be a bit more expensive. Groceries are also reasonably priced, especially if you shop at local markets. Transportation is also quite affordable. The public transportation system is excellent and a monthly pass for the subway and bus costs around $50. If you prefer to drive, gas prices are comparable to those in the U.S., but parking can be expensive in some areas. As for entertainment, there are plenty of affordable options. There are many beautiful parks and cultural sites to visit for free or a small fee. Movie tickets are around $10 and a night out at a local bar or club can cost anywhere from $20 to $100, depending on where you go and what you drink. In terms of sacrifices, you might have to give up some Western comforts. For example, imported goods are quite expensive, so you might have to adapt to local products. You might also have to get used to smaller living spaces, as apartments here are generally smaller than what you might be used to in the West. But overall, I think you can live quite comfortably on $5,000 a month in Bundang. You just have to be smart about where you choose to live and how you spend your money,” commented an expat living in Bundang.
