Korean Job Discussion Forums

SPINOZA · Joined: 10 Jun 2005 Location: $eoul

In what way is Seoul expensive? In what ways is it more expensive than elsewhere in Korea?

It's said that the cost of living in Korea is relatively low and Korea is celebrated by EFL teachers for its potential for saving money, yet Seoul is said to be expensive and I've even heard it said that Seoul is as expensive as Tokyo!

I expect Seoul to be expensive in terms of property prices and rent, but that won't concern me, as I'll be living rent-free. My main outgoings will be on food (not western food; I don't eat Pizza Hut and McD's in England, so I won't in Seoul either), entertainment, eating out regularly (Korean/Asian food), travel (from day-to-day transportation to heading out to interesting places at weekends), alcohol, utilities, internet, perhaps cable TV. How expensive are these?

Can one still 'easily' save 1 million a month of a 2 million salary in Seoul as one evidently can elsewhere?

P.S. I've done a search before posting and found little. Also the FAQ failed to deal with Seoul specifically, unless I haven't looked properly. Thanks.

Qinella · Joined: 25 Feb 2005 Location: the crib

I've only been to Seoul three times. The last time I went, I counted my money after a couple hours and said, "Where the hell did I spend 130,000 won???!!!" I still don't know where it all went. I think a magical kimchi fairy went into my pocket.

Joo Rip Gwa Rhhee · Joined: 25 May 2003

Seoul is one of the most expensive cities in the world.

the saint · Joined: 09 Dec 2003 Location: not there yet...

Ya-ta Boy · Joined: 16 Jan 2003 Location: Established in 1994

With your housing paid for, I don't think you'll have any problem saving 50% of your income in Seoul. Food isn't any more expensive there than elsewhere in Korea. Just avoid buying any more foreign food than you have to. That is expensive.

bucheon bum · Joined: 16 Jan 2003

I had no problem saving 1 mill/month. Housing and western-style living is expensive, everything else is cheaper than in the States and probably the UK as well.

Demonicat · Joined: 18 Nov 2004 Location: Suwon

I do NOT know how you people save all that money! My food bill comes to over 500.000 a month and I don't eat out or drink alcohol. I suppose the high food bill goes into affording nutirious foods-i.e 1kg of beef is AT LEAST 12.800- 20.000W. Tuna is 1.50 a tin. Milk is 3.000-4.000W a litre. Unless one is surviving off of soju, kimchi, and ramen noodles then money definately goes into food.

peppermint · Posted: Thu Jul 07, 2005 2:29 pm Post subject:

Where are you buying your milk? I paid 1,800 for a litre at the supa next door just yesterday.

Demonicat · Joined: 18 Nov 2004 Location: Suwon

At my local stores, its 3.800 for 1 litre of fat free milk (the other types are the same cost)- BTW I live in Northwest, Hongje

bucheon bum · Joined: 16 Jan 2003

JongnoGuru · Joined: 25 May 2004 Location: peeing on your doorstep

Hi.
This is so obvious to most young expats and teachers here that it probably doesn't need to be said, but Rule No. 1 for living comfortably, cheaply, and saving money as you go is: Do not own a car here. Yes, every Korean and their dog (even jobless high school drop-out dogs) owns a car and increasingly an SUV. And yes, many will smile yet view you, car-less you, as an oddity and assume all sorts of things. 'Is he poor? Is he handicapped? Is he shiftless? Is he a tourist or an international hobo in a business suit & necktie? Doesn't he know how to drive? Despite his comparatively large salary, he must be too feckless to qualify for auto financing! Tee-hee!' Resisting the temptation to prove them wrong is giving yourself a nice fat monthly bonus. Money in the bank.

(However, owning foreign motorcycles cost twice or more what an average Korean car does will not alter the above opinions.)

mindmetoo · Joined: 02 Feb 2004

Seoul might be expensive if you're trying to make a life here: afford a condo, own a car, put your kids through school. But for the young ESL type who parachutes in here for a couple years, cost of living is good. Cost of living is hugely affected by housing costs and things like what it costs to own/operate a car. Your apartment is free and you're pretty much confined to the cheap subway/bus system here. So cost of living ain't really all that bad. A subway trip is $1. Japan it's about $2 and most subway systems in North America are also about $2. So Seoul is pretty cheap. Food is pretty cheap, although costs have gone up a lot in the last year.

The only thing that will cost you is if you try to live a western lifestyle: eating cheese, Bennigans, drinking imported beer.

mindmetoo · Joined: 02 Feb 2004

skimilk · Joined: 18 Mar 2005

If you stick to Korean cuisine for the most part & do not own a car & don't date high maintenance girls, I don't think you should have a prob saving at least 1 mil a month...

I'm spending a lot less money here than I did in NYC or Tokyo...

Swiss James · Joined: 26 Nov 2003 Location: Shanghai

I think there's more of a range of how much you can spend in Seoul than some other places. Smaller cities probably don't have too many bars selling 10,000 won (5ish quid) cocktails, and restaurants cooking up 30,000 won steaks. That doesn't mean you can't get 5,000 won pitchers of beer and 2,000 won kimbap too though.

Also there are more temptations to spend- multiple nightclubs, a wide range of clothes in the shops, huge electronics markets, imported musical instruments.

In my experience it's almost impossible to have a cheap day in Zurich, Tokyo, London or New York, whereas in Seoul it's just about resisting temptation.