Cost of Living in Korea

Last updated on Apr 10, 2023

Summary: The cost of living in Korea is generally considered to be quite reasonable. A nice one bedroom apartment in Korea can cost anywhere from $500 to $1,500 per month, while a nice two bedroom apartment can cost from $800 to $2,500 per month. The cost of dinner at a moderately priced restaurant in Korea is usually around $10 to $20 per person.

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Is the cost of living in Korea high?

We asked people how much they someone comfortably live on in Korea, they wrote:

"The cost of living in Korea varies depending on the city and lifestyle. Generally, the cost of living in Korea is considered to be relatively affordable compared to other developed countries. Basic necessities such as food, transportation, and housing are generally quite affordable, while luxury items such as designer clothing and electronics can be more expensive. Additionally, the cost of living in Korea is affected by the exchange rate of the Korean won to other currencies," said one expat in Korea.

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Will I save money living in Korea?

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About the Author

Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.