What are the most expensive costs in South Korea?
AI Answer
Housing is by far the most expensive cost in South Korea, particularly in Seoul. Expect to spend ₩800,000 to ₩1,500,000 per month ($600-$1,100 USD) for a modest one-bedroom apartment in a desirable area, easily consuming 30-40% of your income. Deposits (jeonse or key money) can be substantial, often 10-20 times the monthly rent.
Dining out is another significant expense. A casual meal costs around ₩10,000-₩15,000 ($7-$11 USD), and a nice dinner can easily hit ₩40,000-₩60,000 ($30-$45 USD) per person. While public transportation is excellent, ride-sharing or taxis add up quickly, especially late at night.
Healthcare, while high quality, can be expensive if you're not covered by the National Health Insurance Service (NHIS). NHIS premiums vary by income, but a visit to a specialist without insurance can cost ₩50,000-₩100,000 ($37-$75 USD) or more. Factor in these costs when budgeting for a move to South Korea.