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cost of living in korea?
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gbm



Joined: 15 Jan 2003

PostPosted: Mon Jan 27, 2003 7:20 pm    Post subject: cost of living in korea? Reply with quote

can anyone give me an idea of what costs of living are like in korea? or point me to some place that could?
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william beckerson
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PostPosted: Mon Jan 27, 2003 7:24 pm    Post subject: Reply with quote

I met an MBA who told me that if he wanted to maintain the same standard of living he has here as well as the same amount of disposable income, he'd have to earn over $60,000/ year.

I dont know about that. But I do know that I can get by on as little as US$400/ month here.

Not paying rent helps.
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Boogie



Joined: 20 Jan 2003
Location: Pusan

PostPosted: Mon Jan 27, 2003 8:04 pm    Post subject: I think it's not cheaper. Reply with quote

I dont find it that much cheaper.

Some things are cheaper for example taxis but I never used a taxi at home and I spent less money on gas at home than I do on taxis here- so in the end- it's not at all cheaper for me.

Also I rent an apartment and it's 12 pyong (about 5m x 4m), hence ridiculously small for it's monthly rent of 400,000 won per month (plus substancial key money)... for that money I would have something at least twice the size.

Korean people barely eat any meat so food bills are not as expensive for them (it seems) meat here is outrageously priced- especially fresh red meat. Even fresh chopped pig meat is almost 1000 won for 100 grams.
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PootyTang



Joined: 16 Jan 2003
Location: Valley of the sun

PostPosted: Mon Jan 27, 2003 8:07 pm    Post subject: Reply with quote

They nickel and dime you to death!
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kimcheeking
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PostPosted: Mon Jan 27, 2003 8:36 pm    Post subject: Re: I think it's not cheaper. Reply with quote

Boogie wrote:

Also I rent an apartment and it's 12 pyong (about 5m x 4m), hence ridiculously small for it's monthly rent of 400,000 won per month (plus substancial key money)... for that money I would have something at least twice the size.


Actually your apartment is 40 square metres. 1 pyoung is 3.3 square metres. why pay rent? Save money then put down the key money. August this year I'm moving into a 25-32 pyoung apartment. No Rent all Key money. woo hoo... right now I have a 15 pyoung place no rent.

I have found that living in Korea is far cheaper than living in Canada. The big factors being that I don't pay rent. Eating out is far cheaper than back home, provided you eat Korean. The subway is extensive (in Seoul) and cheap, but now I drive so I am losing there.


Last edited by kimcheeking on Mon Jan 27, 2003 8:38 pm; edited 1 time in total
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Captain Obvious 2.0



Joined: 09 Jan 2003

PostPosted: Mon Jan 27, 2003 8:37 pm    Post subject: Re: I think it's not cheaper. Reply with quote

Boogie wrote:
I dont find it that much cheaper.

Some things are cheaper for example taxis but I never used a taxi at home and I spent less money on gas at home than I do on taxis here- so in the end- it's not at all cheaper for me.


Gas alone does not represent the entire cost of running a vehicle. Insurance, repairs, and general maintenance must all be considered. And that doesn't even include the cost of parking your vehicle in Korea.

Quote:
Also I rent an apartment and it's 12 pyong (about 5m x 4m), hence ridiculously small for it's monthly rent of 400,000 won per month (plus substancial key money)... for that money I would have something at least twice the size.

Well, in a small city you would be correct. In a major U.S. city, it's a pipe dream. You would be lucky to get a room that size for twice that price without being in an "undesirable" area. Read about how in San Francisco some people are making $30,000 a year and living in their cars or in homeless shelters because they can't afford a place to live.

If you want cheap rent, move into the suburbs. You can get a larger apartment for less. If you want to live in the big city, welcome to the higher prices.

I move next month. I could have moved into a small apartment for 200,000 Won in the rural areas at the end of the subway lines. I could have paid 400,000 Won for what you're paying. Instead, I stepped up. I will be paying 550,000 Won for a fully furnished two level (first level being 20 pyong) apartment overtop a subway station, next to a major shopping centre, and across the street from a ten story shopping mall with ten screen MegaPlex on top.

The convenience (and other factors like built in washer and dryer, running track around the middle of the building, and rooftop park) in my opinion is worth the extra money.

Quote:
Korean people barely eat any meat so food bills are not as expensive for them (it seems) meat here is outrageously priced- especially fresh red meat. Even fresh chopped pig meat is almost 1000 won for 100 grams.

I picked up chopped pork for 500 won per 100g last week when I went shopping, and it wasn't on sale. As for red meat, cheap red meat is mostly a U.S./Canada/Australia thing. Nearly everywhere else pays a lot for red meat because of the grazing land required, to which the U.S./Canada/Australia have lots of.
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The Great Wall of Whiner



Joined: 24 Jan 2003
Location: Middle Land

PostPosted: Mon Jan 27, 2003 8:44 pm    Post subject: Cost of Living Reply with quote

Unless you are a shop-o-holic, the cost of living is ok.

Meat and cheese is very expensive. But if you are a smoker and a drinker, you will fare much better (economically not health-wise) in Korea than North America.

You can get piss-assed drunk on soju and smoke 2 packs of cigarettes for less than $5 US.

Taxis are cheap. Having your rent paid for you by your hagwon is awesome.

But you know, it all depends on your lifestyle. If you like going clubbing 24/7, it will set you back considerably (unless you are a girl and you can get a guy(s) to be your sugar daddy/ies for the night).

Clothes are very cheap. Transportation is cheap. Compare everything to Japan or America and you're living in a cheap country....

And back to red meat....

Red meat is VERY cheap in Taiwan. The reason red meat is expensive in Korea is because most imported items are. Korea has a HUGE import tax/tariff on imported items.

This is their idea of protecting their products. Taiwan does not have such high tariffs. Look at the roads in Korea. Hyundai, Kia...not many Fords, huh?

Then look at Taiwan: Everything under the sun is on the road...
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Al Gore



Joined: 23 Jan 2003
Location: Seoul

PostPosted: Mon Jan 27, 2003 11:46 pm    Post subject: Reply with quote

The cost of living here is way cheaper than in the US. Gas and some groceries, such as red meat, are the exceptions. Perscription drugs, restaurants, and public transportation are extremely inexpensive. Rent is cheaper than in major west coast cities. I'm able to live twice as well here as I was in the States and still save more than twice as much cash. So I would agree with the first reply to this post.
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Boogie



Joined: 20 Jan 2003
Location: Pusan

PostPosted: Sat Feb 01, 2003 6:08 pm    Post subject: Reply with quote

Okay,

I think you have to come see for yourself because we all come from different places and are judging differently. The thing that hit me is:

Clothing here is cheaper... but the quality is (*&^&%$& and if you want the same quality of clothing that you buy back home you are going to pay through the nose...

Diddo for many other things...

Driving... I spent 30,000 won on taxis last night... even with car repairs I wouldn't spend that much unless I was getting into accidents all the time.

Eating... if you want to eat Korean food which isn't so healthy most of the time you won't pay much but if you want to eat healthily or American style it will be more than at home. That's all I can cook so that's all I buy.

Apartments... yes you can put 35 million won down for an apt and pay no rent but I can't tie up that much money for a year especially not so someone else can make interest on it... just my choice.

Even people here disagree about whether it's cheap or not.
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Ralph



Joined: 27 Jan 2003

PostPosted: Sat Feb 01, 2003 6:24 pm    Post subject: Reply with quote

What korean food are you eating to say its not healthy? Korean food is extremely healthy, far more so than american food.Whats not healthy about less meat, a lot of veggies, tofu, etc? Obviously, samgeubsal or galbi everyday isnt healthy, but who eats a lot of samgeubsal or galbi? Stick to the different soups they have here, eat tofu, gimbab, bimbimbab etc and you will be a lot healthier than if you would were you to eat steak, hot dogs and the other amrican foods.
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Zyzyfer



Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

PostPosted: Sat Feb 01, 2003 6:35 pm    Post subject: Reply with quote

With all other things paid, I managed to live a pretty good life, spend 600,000 won on said good life, and still pack away close to 1,000,000 won each month. Korea's cheap *if* your hakwon pays your rent for you, in some form.
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coler651



Joined: 24 Jul 2007

PostPosted: Mon Jul 30, 2007 7:17 am    Post subject: Reply with quote

Meat is an essential part of a healthy diet
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Xuanzang



Joined: 10 Apr 2007
Location: Sadang

PostPosted: Tue Aug 07, 2007 5:32 pm    Post subject: Reply with quote

You can't get a satisfying meal and decent meal in Canada for under 3 bucks. I love the places that have a set menu for 2-3000 won and no tipping generally helps the chequebook. Plus well you could gorge yourself on side dishes if you're really a big eater.
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MeLikeKalbi



Joined: 09 Sep 2007

PostPosted: Sun Sep 09, 2007 5:11 pm    Post subject: What is economical? Reply with quote

I'm looking into working for Pagoda Academy, unlike some job offers they don't offer free housing, their housing benefits is as follows:

Housing
- housing Manager shows apartments and handles all your housing needs
- 5 Mil won key money deposit, furniture and 100,000 won/month housing allowance
- no key money or furniture and 250,000 won/month housing allowance
- temporary housing provided upon arrival

Based on your experience in teaching in Korea, do you think its economical rather than taking a job that does offer free housing? Mind you that I do plan to teach in Seoul. Also, if anyone has any previous dealing with Pagoda or knows about it, is it a good place to work for salary wise? and do they allow you to teach privately on the side?


Any takers?
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ttompatz



Joined: 05 Sep 2005
Location: Kwangju, South Korea

PostPosted: Sun Sep 09, 2007 6:09 pm    Post subject: Re: What is economical? Reply with quote

MeLikeKalbi wrote:
I'm looking into working for Pagoda Academy, unlike some job offers they don't offer free housing, their housing benefits is as follows:

Housing
- housing Manager shows apartments and handles all your housing needs
- 5 Mil won key money deposit, furniture and 100,000 won/month housing allowance
- no key money or furniture and 250,000 won/month housing allowance
- temporary housing provided upon arrival

Based on your experience in teaching in Korea, do you think its economical rather than taking a job that does offer free housing? Mind you that I do plan to teach in Seoul. Also, if anyone has any previous dealing with Pagoda or knows about it, is it a good place to work for salary wise? and do they allow you to teach privately on the side?


Any takers?


You are aware that most places supply housing (worth about 5 mil key money AND 300-400k per month rent)

OR

supply key money AND 300-400k per month for your housing.

This offer / suggestion from Pagoda is LOW and their salaries tend to be on the low side as well. It is an OK place to get your feet wet but ....

There are many better offers and situations available out there (even in Seoul).

You will NOT find accomodation for 5 mil and 100k per month in Seoul.
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