How Expensive is Living in Korea? | Extra Costs to Consider
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- Опубликовано: 31 янв 2024
- I interviewed Koreans in Seoul and asked them if they think Korea is expensive to live in, and how much someone would spend each day to live in Korea. I also asked if there are any additional expenses for people to consider.
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I know people are less willing to talk about income, but I'd really love to see an additional conversation around income to put these prices actually into perspective
In the U.S. we're sensitive about income, but in most other countries they're not. I know in Japan they will freely discuss that. I'd be interested if Korea is similar.
i really like those interviews, its closer to everyday korean speech than textbook korean
I live in midtown Manhattan in NYC and I grew up here. My rent is considered "cheap" and it's about $2000/mo. (I only have this price for 2 more years, and I got it because I moved in during the height of covid when everyone was leaving the city.) Usually a place like mine (only 400 sqft studio apartment) costs over $3000-3500/mo. One bedroom apartments that are not in bad condition or bad neighborhoods are going to be over $4000-5000/mo. Food is gonna cost you $500-1000 bare minimum each month. This is assuming one adult living alone. Medical premiums are in the ballpark of $600-1200/mo for one person, and there's usually still copays of around $50 per appointment, and also not all services are even financially covered at all. I sprained my ankle a couple months ago and still had to pay out of pocket around $500 for xrays, the boot I was put in, and copays. On top of the monthly premiums. And the bus or train is like $3 per ride which isn't a ton but it's more than a lot of other cities out there which may be closer to $1-2 or even free. You don't need a car here in NYC. But if you do get one, you'll need to pay hundreds of dollars a month if you don't outright own it, and even so, you still need to pay insurance obviously. Plus, there's no parking here so good luck if you don't have a private garage (you won't). Public parking if you actually go somewhere is extremely expensive too, and you might need it, since it's not easy to find on-street parking a lot of the time.
So hearing about prices in Korea... Honestly it sounds very affordable in comparison. I know there are always caveats and other things to consider, but it's still very interesting to think about.
In Germany it depends on where you live because expenses for renting flat/house can really divert a lot in reference living in the countryside or in a bigger city or which size your flat has (1, 2, 3 ,4 rooms, kitchen + bath are not counted) renting can be between 500 € up to 2.000 € or even more. Adding water cost, energy cost, trash fees, insurances, internet, mobile phone, food and hygenic stuff you would be around additional 600 to 1.500 €
E.g. 3 persons household could spend round about 2.500 € - 3.000 € monthly without any extra included like restaurants, freetime stuff, clothes etc.
I am moving to Korea for a job this summer! This is incredibly useful information for me, as I always feel like I haven't planned enough...
Great interview. Keep em comin
I'm planning to apply for a scholarship for my masters in seoul next year. this year i'm currently preparing all the tests, documents, and living expenses needed to live there. this video gave me more notes regarding living expenses. Thank you billy and people of seoul!
오늘도 재미있는 인터뷰 잘 봤습니다 :) Thanks for another interesting interview video haha
If you're a single, $500 per week will be enough in Korea, including housing, food, shopping and entertainment. Once you're married with kids, it costs average $1,000 per week (or $3,000 to $4,000 per month) If your kids go to high school, one month of tuition for private school (hagwon or tutoring) will be $1,000-$1,500.. So... depends on your situation and lifestyle..
서울에서 살아보고 싶은 다른 나라 분들에게 이거 너무 유익한 영상인 것 같아요:)
I think this video is very useful for people in other countries who want to live in Seoul!
이번 영상 흥미로웠어요~
I used to live alone here in Seoul in a one room style apartment and I made between 2.3-2.8million a month. The rent was about 600,000won and I partied a lot. I was comfortable. I would’ve partied less if I wanted to save money. Now I make 3.1-3.6 million a month with my boyfriend (separate income) in a 3 bedroom apartment. Rent is 1.3million. I never feel like I need to make more.
Young people are talking about a really small room. You can't put much furniture there. The rent is similar to Toronto.
This is very helpful. I want to travel to Korea one day😊
이거 재밌어요!
About 3백만 for family of 3 in NZ (regional city). Rent only. About USD 2400 p/m.
The question in my mind is, what do you get for that money? You should consider a "house hunters" type episode and show us what you get for different amounts of rent.
PLZ MAKE THIS LONG VIDIO
ah you can probably fly to korea from the usa and have a major surgery and it would still be way cheaper than with insurance in the usa. i got my eyedrops i need and since it was a new year i had to pay $200! (it will go down "once i meet my premium") for eyedrops! but i need them for lowering my pressure. i paid $600 last week for an apicoectomy (a dental procedure). and that's WITH insurance.
these amounts wouldnt even cover rent in the city i live in in australia. id love to know if wages are just lower in korea because this seems excessively cheap to live in one of the biggest most fascinating cities in the world
Overall wages are lower, but it also depends on the job. It's comparing apples to oranges. In some areas your money goes a lot farther (such as eating at restaurants, the option of renting a smaller apartment, transportation), and in other ways less (buying foreign food, purchasing imported items). It's complicated.
Survived with 130만원 during my PhD in Seoul.
How does healthcare work in Korea? One person mentioned the specific case of it being an important expense for a foreigner; do they have public healthcare in Korea, but only for citiziens?
Basically if you're legally able to work in Korea, you can get insurance.
I live here in Seoul. Medical insurance for foreigners that covers most doctor visits is extremely inexpensive ~~ but it doesn’t cover expenses like surgeries.
For a family of two with no kids, I think you would need about two million Won or more. However, to save money for the future, about more than three to four million Won would be good.
(There was a typo 😅, sorry. I fixed it.)
That makes no sense at all.
I'm assuming you don't actually mean 300-400 won (which would be like 30 cents.)
@@KoreaWithKids guessing 300 to 400 만원 which would be 3 to 4 million.
Not sure why you would need to double your income just so you can save some moeny but that seems like his statement. (or maybe just an extra 400 thousand?)
@seanoceallachain Sorry for my typo. I changed 'hundred' into 'million.' 😅 I made a mistake. 🥲
@@KoreaWithKids Right, I made a mistake 😅. I'm trying to practice writing English, so while I was trying it, I made a mistake. 🥲
In the place where I live, with a family of 5, it costs us easily $6,000-$7,000 on a monthly basis, and I can promise we aren’t living in the laps of luxury (it takes a lot of budgeting and penny pinching to mostly make it work).
Let me guess.... San Francisco? :P
@@GoBillyKorean Not San Fran, but in a place that is on the same list as San Francisco of the most expensive places to live in the United States lol
I live in Pyongtaek, and rent for my house alone is ₩4 million monthly... factor in all the other expenses and you'll need about ₩7M to ₩8M monthly...LOL
Is because you are middle class
@@goodyoflife Is that a bad thing?
I really want to visit Korea maybe get a job or somthing but I can’t speak Korean and I’m not sure how to go about it because I don’t have any money it’s to expensive for me to travel there plus I’m single and only child and Im 29 I always have to help my parents with their bills and food and even that expensive for one person who doesn’t make enough money so while my parents pay rent I pay for everything else that we need food bills it’s not easy and we can barely even pay rent in our 2 bed room 2 bath because it’s over 2,400 bucks and that’s most if not all of my parents paychecks and they are retired so without them I can’t even have an apartment or house I’ll be homeless and I live in Colorado USA I hate everyone prioritizing the rich and forgetting about the lower class poor people that need help more then other people I’m just saying how this world works only the rich matter and it shouldn’t ever be that way. But it always has been
Low rent ? I'm sorry ? I've been here 10 years. I don't know where this idea of low rent is coming from.
Also, 400 ? You're looking at a One Room style apartment. I don't think most US people would understand what that kind of shoe-box apartment is.
These prices and other things, like cost of living they've said....$2,000 - $4,000 can't really compare to the US, especially considering the average wage of all those workers.
You would need to ask them what they earn, or what percentage of their income goes on expenses.
This video paints a picture of Seoul being a really cheap place to live. While it is in some cases with regards to food and transport, housing is not one of them.
I'd wager none of those people in the video under 40 own their own house, or even have a mortgage with the intent to own one in the future, as that doesn't really exist here.
Also, in order to get that low of a rent, 400 or 500 (which is NOT common at all in Seoul , unless it's a shit shoebox as mentioned), you need to put a deposit of about $10,000-30,000 down first.
To be fair, that doesn't really exist abroad either... I only know one person in my entire 30-50s friend group that is even looking at home ownership; they live in Canada and can only get it because their parents are helping them and they are an only child, and even then to afford the mortgage they're having to rent it out for the first 8+ years and then will need a roommate... this isn't even a house, but a townhouse. This isn't to say you're wrong, just to say this houses-are-only-for-the-ultra-rich problem is a global one.
Feels like Seoul cost less to live in than even middle sized cities here in Quebec...
There are areas that are certainly very cheap, and others that are very expensive.
no wonder people don't want to marry and have kids 💀💀💀
As the interviewer and video producer, you might want to tell us which of these figures is more accurate. I wrote an entire PhD dissertation using interviews in India, years ago, and you absolutely have to synthesize the varied comments you get precisely because they are so varied. Best of luck. (I still think interviewing is so much fun.👍🏻💜)
Low rent and Seoul in one sentence? I think not.
money money dalla dalla
This is why a lot of people stay with their parents until marriage and why it’s harder for couples to have kids because it’s so expensive. Korea is a wonderful country and I can’t wait to visit in a couple of months but it’s a very poor country too. The cost of living is so expensive for just 1 person and pay isn’t that much
That's not the only reason but it's one of the big ones I think.
Is the age most people break away from their parents about, 22 over there? What is their common age for becoming independent?
@@ikawba00Often until they're married, or if they leave to go to college or work in another city.
한달에 천만원에서 공한개는 더붙여줘야 그나마나 살아숨쉬고 있습니다. 라고 저는 생각 합니다.
Was the translate from google