MigrantoCost of living in South Korea
What a month costs, how prices compare with other countries, and where the money goes
Monthly cost in South Korea
Spending runs from ₩850,000 a month in the poorest fifth to ₩4,620,000 in the richest
Per person, whole country
₩1,910,000
what a typical person spends in a month
Spending across the population
₩850,000richest 20%
₩4,620,000
Where people spend money in South Korea
One person's out-of-pocket spending, averaged across the whole country
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Key facts
The cost of living in South Korea in numbers
Typical spending takes 44% of the average wage
A typical person spends ₩1,910,000 a month while the average take-home wage is ₩4,330,000, so 56% of an average wage sits above what a typical person spends.
Groceries takes an unusual share of the budget
It absorbs 12% of spending here, or ₩229,000 a month, against 19.7% in a typical country, 7.7 points less.
How living costs in South Korea compare
Neighbours, region and the world on the same monthly figure
What things cost here
How much the same goods and services cost in South Korea against other countries
More expensive than 78% of countries
Where South Korea sits when every country is lined up from cheapest to most expensive
Pakistanmost expensive
Bermuda
middle
A basket of goods and services that costs ₩1,520,000 at world-middle prices costs ₩2,190,000 here.
Data source: household consumption 2024 (World Bank), International Comparison Program 2021 (World Bank), category breakdown 2022 (United Nations Statistics Division), adjusted to 2026 using IMF GDP-per-capita growth
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What it costs to live in South Korea
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Cost of living in South Korea
₩850,000/mo
vs ₩1,210,000 in your country
Take-home
₩2,070,000
vs ₩1,820,000 in your country
Potential savings
₩1,230,000
more than in your country
Standard of living
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Frequently asked questions
What is the cost of living in South Korea?
A typical person in South Korea spends about ₩1,910,000 a month — around ₩23,000,000 a year — on housing, groceries, transport and other everyday costs. It's a nationwide average across different regions, cities and types of housing.
What is the standard of living in South Korea?
By spending, South Korea ranks #43 of 185 countries. A typical person spends about ₩1,910,000 a month, the poorest 20% about ₩850,000 and the richest 20% about ₩4,620,000. The gap between them shows how unevenly people live.
What is the cost of living in South Korea in US dollars?
The cost of living in South Korea is about $1,262 a month, or roughly $15,144 a year per person.
How much money do you need to live comfortably in South Korea?
It all depends on your standard of living. A modest budget runs about ₩850,000 a month per person, a typical one around ₩1,910,000, and a comfortable life around ₩2,650,000. In big cities and for a family, costs are usually higher.
What do people spend the most on in South Korea?
The biggest expense is housing, at about ₩331,000 a month (17% of spending). Then come groceries (₩229,000, 12%) and transport (₩206,000, 11%).
Is the average salary in South Korea enough to live on?
Yes, with room to spare. Average spending is about ₩1,910,000 a month, while the average take-home pay in South Korea is about ₩4,330,000. For more on incomes, see salaries in South Korea.
Is South Korea an expensive country to live in?
Yes. South Korea is more expensive than 77% of countries worldwide and ranks 5th of 27 in Asia by cost of living.
What currency is used in South Korea?
South Korea uses the South Korean Won (KRW). Amounts on this page are shown in it; the currency switcher converts them.
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Living in South Korea
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