Is South Korea expensive to live in?

South Korea is not expensive to live in, especially when compared to the US. Our Net Life Value index shows South Korea at 86, meaning everyday goods and services are about 14% cheaper than in the United States (US = 100). This puts it in a similar bracket to countries like Spain or Portugal. Rent is significantly lower. A 1-bedroom apartment in a city center costs around $600-$800, while a similar place in the US would be $1,200-$1,500. Groceries are also cheaper, with a monthly bill for a single person averaging $250-$350. Transportation is excellent and affordable; a monthly public transport pass is about $50. Healthcare is high-quality and very affordable through their national health insurance system. You'll pay around 3.545% of your income towards health insurance, with employers covering another 3.545%. Income tax rates are progressive, starting at 6% for incomes under $10,000 and going up to 45% for incomes over $750,000. Overall, you can live comfortably on a much lower budget than in major US cities.