Guide · LIV · 101
Cost of living
What it costs to live here each month, and where the surprise costs are.
In short
- Housing is the big variable. Most other things in Korea are fairly cheap. Live further from the center and rent drops 30–50% with little lifestyle hit.
- Rough Seoul monthly budgets (single person): frugal ₩1.5–2M, comfortable ₩2.5–3.5M, high-end ₩5M+. Other cities run noticeably cheaper.
- Food, transport and healthcare are cheap if you live like a local. A clinic visit is a few thousand won; a subway ride ~₩1,400–1,800.
- What quietly eats your budget is the "expat lifestyle tax": Western groceries, imported goods, English-friendly neighborhoods.
Globally, Korea is somewhere in the middle. It's cheaper than Tokyo, London or New York, and pricier than most of Southeast Asia. Your bill depends much less on the city than on how local you're willing to live.
A realistic monthly budget (single person, Seoul)
| Category | Frugal | Comfortable |
|---|---|---|
| Rent (wolse studio) | ₩500,000–700,000 (outer district) | ₩800,000–1,200,000 |
| Food | ₩300,000–400,000 (mostly Korean) | ₩500,000–700,000 |
| Utilities | ₩100,000–200,000 | ₩150,000–370,000 (seasonal) |
| Transport | ~₩70,000 | ~₩100,000 |
| Phone | ₩25,000 (MVNO) | ₩60,000 |
| Health insurance | ~₩80,000+ (or salary-based) | ~₩130,000+ |
| Rough total | ₩1.5–2M | ₩2.5–3.5M |
Outside Seoul (Busan, Daegu, Incheon, and smaller cities), rent is clearly lower, often 20–40% less for a similar place.
Where your money goes
Housing: your biggest cost
This is where most of your money goes. See the housing guide for jeonse vs wolse. Two levers: pick an outer district on a good subway line, and raise your deposit to lower monthly rent. Also budget one-time setup costs in month 1: the deposit (₩5–20M, refundable) and furniture if unfurnished (₩500,000–2,000,000).
Food: cheap if you eat Korean
A sit-down Korean meal runs ₩8,000–15,000; street food ₩2,000–5,000; a convenience-store lunchbox ₩5,000–6,000 (and it's pretty good). Groceries are moderate at local markets and budget chains (E-Mart, Homeplus, No Brand), but imported Western products cost 2–3× more, and fruit is a pricey luxury here. Monthly groceries for one cooking at home: ₩200,000–400,000.
Transport: very cheap
A subway/bus ride is about ₩1,400–1,800 with a T-money card, with free/cheap transfers. Budget roughly ₩70,000–100,000/month and you're covered. See the Transport section.
Healthcare: low cost
With NHIS, a clinic visit plus medication usually totals under ₩15,000. Premiums are ~3.5% of salary (employed) or roughly ₩80,000–160,000/month (local subscriber).
Money-saving habits locals use
- Live outside the center on a subway line (this saves the most)
- Eat Korean; use convenience-store 1+1/2+1 deals and ₩5,000 lunchboxes
- Shop budget chains (No Brand, Homeplus) and traditional markets; buy fruit from truck vendors
- Use an MVNO phone plan (₩25,000 vs ₩60,000)
- Set up your ARC-linked phone for app discounts (Coupang, delivery). If you can't use these apps, you end up paying more
Common questions
Can I live in Seoul on ₩2M/month?
Yes, but it's tight: outside central neighborhoods, eating Korean, using public transport, minimal entertainment. Many English teachers manage on this with a housing allowance from their school.
How much should I save before moving?
Plan for about 3 months of living costs plus your deposit (often ₩5–10M+). A common target for a single professional is roughly ₩15–25M to land safely.
Is Seoul cheaper than Tokyo?
Generally yes, especially food, transport and everyday services, often 15–25% cheaper for equivalent neighborhoods. High-end housing is closer.
Are other cities much cheaper?
Yes. Busan, Daegu, Incheon and smaller cities cut rent noticeably, while food and transport stay similar. Housing is where you feel the difference.
Sources: Numbeo, Wise and multiple 2026 cost-of-living breakdowns for Seoul/Korea. Figures are indicative ranges that vary widely by neighborhood, season and lifestyle.
Last verified: July 2026. Prices change and vary by city and lifestyle. Use these as rough planning ranges. General information, not financial advice.
Budgeting for a move?
Ask people in your target city what they spend. Post in the community and tag it Living.