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wanna_teach
Joined: 11 Jul 2009
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 Posted: Sun Jul 12, 2009 5:52 pm Post subject: cost of living |
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I am considering teaching in Korea and was wonderding how much money I could potentially save. What is the cost of basics (food, utilities, transportation etc)
I was thinking of living in one of the smaller cities because it would be cheaper to live, but are the savings worth it. Are there things to do in smaller cities.
I would probably like to travel on the weekends...what are the costs of trains, domestic flights etc.
Sorry...lots of questions, but have patience, I'm a newbie 
Any help is appreciated |
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fremchie
Joined: 28 Mar 2008
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| Posted: Sun Jul 12, 2009 5:58 pm Post subject: |
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| Depending on where you would be living cost of living will be different. I live in a smaller town outside of Gwangju and I can easily save 50 percent my salary without budgeting. I do not go out and party and stuff so that also cuts down on my costs. I think if I wanted to be real frugal I could save 75 percent of my income. (and make my own kimchi!......) |
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wanna_teach
Joined: 11 Jul 2009
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| Posted: Sun Jul 12, 2009 6:06 pm Post subject: |
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Thanks fremchie
What's it like living in a small town? Are there many other foreign teachers? What is there to do?
I was thinking of a small town, but am worried that there will be nothing to do. I don't need to party all the time anymore either, but I need to socialize.
btw...what's kimchi  |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Sun Jul 12, 2009 6:19 pm Post subject: |
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| wanna_teach wrote: |
| btw...what's kimchi |
ah, the naivete of the newbie
i remember the day I dared tell a Korean that most people from my hometown had never heard of kimchi
| wanna_teach wrote: |
| what are the costs of trains, domestic flights etc. |
CHEAP, reliable and comfortable buses go all over quickly, the buses less frequent, less comfortable but still surprisingly cheap.
For a couple of years I travelled from a small town to places all over the country two or three weekends a month, staying in 25,000 won motels, eating at Korean restaurants (local restaurants are very affordable, most dishes 5000 won range), and still saved half my salary no problem. |
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alphakennyone
Joined: 01 Aug 2005
Location: city heights
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| Posted: Sun Jul 12, 2009 6:31 pm Post subject: |
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| Cost of living is relative. As an American, I consider Korea to be rather expensive for the basics. For others, they say it's cheap. |
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Silence Dogood
Joined: 09 Jul 2009
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| Posted: Sun Jul 12, 2009 6:33 pm Post subject: |
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| Saving is what is embodied in this physical world, seek the path of capitalism to find the other. |
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E_athlete
Joined: 09 Jun 2009
Location: Korea sparkling
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| Posted: Sun Jul 12, 2009 6:48 pm Post subject: |
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breakfast, lunch and dinner is free in Public school. Housing is free. So you are essentially paying for utilities which is around 100000won and internet which is 35000 won. Also you have to pay for food expenses on weekends s well but K-food is cheap to eat out. Taxes are very low so you don't have to worry about losing your money that way either.
You can save a bundle by living modestly and not buying furniture and electronics/toys. Even if you earn 2.1m like me you can easily save 1million a month. If you are on a F2 visa or get permission for an extra job you can earn 4million or even more each month. Korea seems like an awesome place to hide out the recession. |
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alphakennyone
Joined: 01 Aug 2005
Location: city heights
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| Posted: Sun Jul 12, 2009 6:50 pm Post subject: |
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| E_athlete wrote: |
| breakfast, lunch and dinner is free in Public school. |
Uh, really? |
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E_athlete
Joined: 09 Jun 2009
Location: Korea sparkling
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| Posted: Sun Jul 12, 2009 6:56 pm Post subject: |
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| alphakennyone wrote: |
| E_athlete wrote: |
| breakfast, lunch and dinner is free in Public school. |
Uh, really? |
at my school it is  |
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Rusty Shackleford
Joined: 08 May 2008
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| Posted: Sun Jul 12, 2009 6:57 pm Post subject: |
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| alphakennyone wrote: |
| E_athlete wrote: |
| breakfast, lunch and dinner is free in Public school. |
Uh, really? |
Yea, this sounds like a way over the top generalization. Maybe it is true for you, but I know of no other person in the PS system who gets that much free food. Maybe lunch. But even that is rare.
However, food can be cheap in Korea, if you know where to shop. Meat will always be expensive but you can get your veges for the week for about $10 if you shop in the market. Soup and rice form a Korean restaurant is cheaper than actually making something yourself. It will take a little time to find all this stuff, though. Unless you are really pro active.
I don't tend to worry about my spending so much. I still save the equivalent of what I would pay in rent and taxes back home and usually more. |
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Ukon
Joined: 29 Jan 2008
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| Posted: Sun Jul 12, 2009 7:19 pm Post subject: |
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Depends on your life style....on over 3 mil, I save about 1.3 mil a month in Seoul....but I live like a king for the most part...
I'd say 3 million is the new 2 million... |
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Real Reality
Joined: 10 Jan 2003
Location: Seoul
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| Posted: Sun Jul 12, 2009 7:40 pm Post subject: |
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Food Prices Are 2nd Highest in OECD
By Moon Gwang-lip, JoongAng Daily (July 2, 2009)
http://joongangdaily.joins.com/article/view.asp?aid=2906859
image link: http://joongangdaily.joins.com/_data/photo/2009/07/02073008.jpg
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| Food prices in Korea are skyrocketing, although the general consumer price is rising more slowly, according to data from the Korean government and the Organization for Economic Cooperation and Development yesterday.... |
Korean Food Prices Soar Higher Than Most Countries
Chosun Ilbo (July 2, 2009)
http://english.chosun.com/site/data/html_dir/2009/07/02/2009070200704.html
Seoul Falls to 51st in Cost of Living Rankings
By Ines Min, Korea Times (July 8, 2009)
http://www.koreatimes.co.kr/www/news/nation/2009/07/113_48161.html
| Quote: |
| Last year, Seoul was ranked 46th, but the recent depreciation of the won lowered its ranking. The currency's low value may mean trouble for residents presently, but it has helped bring investors into Korea, which could help strengthen the won in the future.... |
The won is plummeting today
http://forums.eslcafe.com/korea/viewtopic.php?t=135323&postdays=0&postorder=asc&start=1470
S. Korea Won Ends Down For A Fifth Straight Day; Bonds Higher
By Min-Jeong Lee, Dow Jones Newswires, Wall Street Journal (July 10, 2009)
http://online.wsj.com/article/BT-CO-20090710-703239.html
Universal Currency Converter
http://www.xe.com/ucc
Korea Exchange Bank (KEB) at http://www.keb.co.kr/main/en
KEB Exchange Rate Web Page
http://www.keb.co.kr/IBS/nebanking/en/fx/fx/ca_100.jsp?vcode=18000000000000&scode=18010100000000 |
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madoka
Joined: 27 Mar 2008
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| Posted: Sun Jul 12, 2009 8:13 pm Post subject: |
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| Ukon wrote: |
Depends on your life style....on over 3 mil, I save about 1.3 mil a month in Seoul....but I live like a king for the most part...
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Dude, I spent 12x that amount during my 6 week stay this year in Korea and I felt like a pauper most of the time. Towards the end, I ran out of money and had to have another $2K wired to me. I suppose everything is relative. |
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OnTheOtherSide
Joined: 29 Feb 2008
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| Posted: Sun Jul 12, 2009 8:19 pm Post subject: |
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| About 500-1000 US dollars per month. More if you are very frugal. |
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fermentation
Joined: 22 Jun 2009
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| Posted: Sun Jul 12, 2009 8:20 pm Post subject: |
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| Depends on what you do, but for the most part I feel Korea is not cheap at all. If you only eat Korean food at local ajumma establishments, you should save a lot of money on food. |
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