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taobenli
Joined: 26 Apr 2004
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Posted: Mon Oct 27, 2008 11:17 pm Post subject: budgeting in Korea |
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Yeah, I know, fun topic. But it's important for me to get a sense of what people are paying for things in Korea right now, as prices go up quickly and I'm trying to put together a budget for a research proposal for next year.
I know that most English teachers get subsidized apartments, but for those of you who pay for your own apartments what's a good estimate for a one- or two-bedroom apartment? I won't be in Seoul, but a smaller city. Right now I have it at $600 in the budget (because I'm overbudget, otherwise I would put the $700-900 I think it might really cost).
For food I have $20/day- does that seem too high or too low?
How much did you pay for your cell phone (the phone itself)? How much do you pay per month for cell phone service? How much per month for internet (wireless or otherwise) service?
Thanks very much! |
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ttompatz

Joined: 05 Sep 2005 Location: Kwangju, South Korea
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Posted: Mon Oct 27, 2008 11:45 pm Post subject: Re: budgeting in Korea |
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taobenli wrote: |
Yeah, I know, fun topic. But it's important for me to get a sense of what people are paying for things in Korea right now, as prices go up quickly and I'm trying to put together a budget for a research proposal for next year.
I know that most English teachers get subsidized apartments, but for those of you who pay for your own apartments what's a good estimate for a one- or two-bedroom apartment? I won't be in Seoul, but a smaller city. Right now I have it at $600 in the budget (because I'm overbudget, otherwise I would put the $700-900 I think it might really cost).
For food I have $20/day- does that seem too high or too low?
How much did you pay for your cell phone (the phone itself)? How much do you pay per month for cell phone service? How much per month for internet (wireless or otherwise) service?
Thanks very much! |
You are NOT likely to find anything resembling a one or two bedroom apartment for 600k per month unless you have a whopping deposit paid up front.
5-10 million in key money and 500k per month will put you into a modest bachelor suite in an office tel.
It will probably get you a 2 room villa in an older part of town.
10 million down and 1 million per month or gets you a 1 bedroom office tel.
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travelnguy
Joined: 27 Sep 2007
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Posted: Mon Oct 27, 2008 11:55 pm Post subject: |
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If you are not living in Seoul; you can get a very nice place for only 400k per month as long as you have a deposit of at least 5 million. I live 40 minutes from Busan and my three bedroom apartment is only 350k per month with a 5 million won deposit.
That being said, Ttompatz was right on the money if you are in Seoul. Seoul is expensive.
I have seen some nice places in Daegu and Busan and those two areas cost a lot less than Seoul as long as you can come up with a deposit. |
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GreenlightmeansGO

Joined: 11 Dec 2006 Location: Daegu
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Posted: Tue Oct 28, 2008 12:28 am Post subject: |
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I'm in Daegu, put down 1 mil deposit and I pay 300 a month. It's a studio place, without aircon (I have to install my own), but I was quite pressed for cash when i came back.
Also, I'm 2 minutes from the subway, which is really useful. |
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Draz

Joined: 27 Jun 2007 Location: Land of Morning Clam
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Posted: Tue Oct 28, 2008 12:44 am Post subject: |
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I'm in Seoul, 1 bedroom apt, ten minute walk from Noksapyeong Stn.: 3 million key money and 450,000 rent. |
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taobenli
Joined: 26 Apr 2004
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Posted: Tue Oct 28, 2008 7:33 am Post subject: |
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Thanks for the answers so far...any tips on budgeting for a Korean cell phone, cell phone monthly service, and internet? I'm assuming that both phone service and internet service are cheaper than in the U.S. (about $30 and $20 respectively?), but I may be wrong. |
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ttompatz

Joined: 05 Sep 2005 Location: Kwangju, South Korea
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Posted: Tue Oct 28, 2008 7:40 am Post subject: |
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taobenli wrote: |
Thanks for the answers so far...any tips on budgeting for a Korean cell phone, cell phone monthly service, and internet? I'm assuming that both phone service and internet service are cheaper than in the U.S. (about $30 and $20 respectively?), but I may be wrong. |
Depending on usage, they are about the same as the states.
I pay 20k for my cell (monthly not prepaid) and 35k for FTTH (fiber connection)
but
you can get basic phone service for as low as 10k and internet/TV packages for as little as 20k.
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