Cost of living in Seoul

Download our Moving to Seoul Guide (PDF)

The cost of living in Seoul is exceptionally high, particularly when compared to other cities in the region. Housing, dining out, and everyday expenses can be costly, making it one of the pricier destinations for expats, although still more affordable than Hong Kong and Singapore.

Salaries in Seoul are generally competitive, and many employment contracts include benefits such as accommodation and education allowances. If you can secure a well-paid work opportunity, these perks help make life in Seoul more affordable. Other ways to decrease costs include using public transport, eating local cuisine from smaller shops and markets, and shopping for locally produced goods.

Cost of accommodation in Seoul

Accommodation in Seoul is costly, but employers typically organise and pay for your accommodation. If you decide to secure your own housing, you should be aware of South Korea’s rental systems and the tradition of ‘key money’. The jeonse system requires a massive deposit that eliminates rent but leads to high upfront costs.

If you cannot afford the initial costs, you can choose the more accommodating wolse or banjeonse systems that will allow you to pay a small deposit and a monthly rental fee. Basic utilities such as gas, electricity and uncapped WiFi tend to be affordable.

Accommodation in Seoul
Areas and Suburbs in Seoul

Cost of transport in Seoul

You’ll typically find owning a car in Seoul unnecessary and inconvenient unless you plan to travel around the countryside regularly. Parking is difficult to find, and the capital has frequent traffic jams.

Public transport in Seoul is world-class: extensive, clean, efficient and relatively affordable. You can take advantage of lower rates on the metro or buses using the rechargeable T-money Card or newer alternatives like the Climate Card and mobile payment options instead of buying individual tickets.

Getting Around in Seoul

Cost of groceries in Seoul

Korean food and brands are largely affordable, especially when buying in bulk. Savvy shoppers browse markets and smaller shops, avoiding the markup often found at supermarkets.

Dairy and fresh produce may go for more than you’d expect. If you don’t buy in bulk, you’ll find that the cost of groceries goes up sharply. Imported brands from Europe or the US are costly.

Cost of entertainment and eating out in Seoul

Eating out is typically inexpensive if you stick to Korean cuisine. Due to discounts for buying in bulk, you may find eating out more affordable than buying and cooking food for one if you’re single. Eating at foreign restaurants will come with a higher price tag.

You’ll find plenty to do in Seoul, whether you prefer nightlife or outdoor activities. The costs of these activities can add up, so you may need to budget carefully and search for free alternatives where possible.

Lifestyle in Seoul

Cost of education in Seoul

Public education in South Korea is free for elementary and middle school, and high school education is also subsidised. Expats rarely enrol their children in public schools. Although schools in Seoul are well known for their academic excellence, there are a few barriers for children from overseas, including the fact that Korean is the language of instruction as well as the highly pressured, results-oriented learning environment.

International school fees in Seoul may very well be your largest expense after accommodation if you’re a parent. Given the extensive international population of diplomats and military personnel, the city offers a range of international schools. Although international schools in Seoul are known for their high tuition fees, these schools typically offer globally recognised curricula, excellent teaching standards and a wider range of extracurricular activities, making them well worth the cost.

Education and Schools in Seoul
International Schools in Seoul

Cost of healthcare in Seoul

Healthcare in Seoul is largely affordable, especially when compared to that of developed countries such as the US. Expats will be subscribed to the National Health Insurance programme, which typically covers 50 to 80 percent of healthcare costs.

Most employed expats will also have private health insurance coverage through their employer that helps cover remaining costs, so you’ll typically only pay a small percentage of the total. Many hospitals and clinics in Seoul have English-speaking staff, particularly in major medical facilities and international clinics.

Healthcare and Health Insurance in Seoul