Study in South Korea: Housing & Living Costs
South Korea does have a higher cost of living than many but lets look at exactly what that looks like for a student.
As South Korea's star ascends, so does its cost of living. However, compared to major American cities like New York, Washington, D.C., and San Francisco, Seoul is affordable. South Korea is also known for generally having higher wages as the tech and business sectors dominate the economy.
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Want to take a study break to enjoy K-pop๐ถ, k-dramas๐บ, and, of course, Korean barbecue๐? Check out our programs in South Korea and enjoy all 3!
Costs
The currency of South Korea is the South Korean Won (โฉ). It can be tricky to find Won outside of Eastern Asia. If you can't find Won, take US Dollars or Chinese Yuan with you and exchange these for Won once you arrive.
Here are prices that reflect the average of South Korea:
| Monthly rent (1 bedroom apartment) | 500,000 - 800,000โฉ |
| Utilities (monthly average) | 230,000โฉ |
| Monthly public transport pass | 62,000โฉ |
| Meal (inexpensive restaurant) | 10,000โฉ |
| Coffee | 5,000โฉ |
| Milk(1 liter) | 2,950โฉ |
| Vegetables (1kg) | 5,200โฉ |
| Eggs (dozen) | 4,200โฉ |
| Water (1.5 liters bottled) | 1,600โฉ |
| Beer (bottle) | 6,000โฉ |
| Bread (loaf) | 4,200โฉ |
The average cost of living in South Korea is about 1,500,000โฉ per month. (Rent is usually considered a separate cost)ย
Accommodation and payment types
Most students, both South Korean and international, live in Goshiwon. Goshiwon are shared accommodations that cost around 300,000 to 800,000โฉ per month. Students sometimes have their own room but can also share a room with up to 4 people. You'll always share a kitchen and sometimes a bathroom. This type of accommodation is called dorms in the US or halls or corridors in Europe. Goshiwon can be rented from your school, a contractor approved by them, or from private landlords.
๐ The private rental sector also is well-regulated in South Korea.
Chip-and-pin and contactless bank cards are widely accepted across South Korea, even in more rural areas. ATMs are also numerous. You'll still need to carry some cash, though, as market stalls and street food vendors normally don't take cards.
Learn more about studying in South Korea:
Study in South Korea - Overview
Want an overview of this remarkable country? This section examines South Korean culture, the landscape, the unique language, and the main sectors. This section also summarises why a South Korean degree can give you a competitive edge.
Education in South Korea
Given its great reputation, reasonable fees, and fascinating culture and language, South Korea is becoming a go-to destination for a variety of students. Take a minute to learn more about the structure of South Korea's education system!
Student Visas
Learn more about the student visa process and what you need to enter the country, depending on your citizenship.
Tuition Fees & Scholarships
Both international and domestic students are expected to pay tuition fees in South Korea, but these fees can vary greatly. Find out more!
Language & Culture
In this section, learn more about the country's language, culture, and more! We also discuss how to stay safe in South Korea.
Application Process
Learn more about the standard application process in South Korea. There's no national application portal, so this section covers what you'll generally need to do when applying to individual schools in South Korea.
Programs
Ready to look at education in Asia? Use our search engine to find and compare top programs in Asia today!
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