What’s the cost of living like in Seoul?

Living in Seoul can be expensive for some, but for others it can bring great value for their money. The city is a major global centre for trade, finance and culture. It has become an increasingly attractive destination for expats in recent years, thanks to its dynamic economy and vibrant nightlife. In this article we focus on the cost of living in the South Korean capital and offer some tips on stretching your budget.

Accommodation

The most significant cost when moving to Seoul is usually rental accommodation. Renting will usually take up a large proportion of your budget. However, some areas are cheaper than others. Rental prices usually range from 60,000 KRW to 700,000 KRW per month, depending on the size of the property and the location. In affluent areas like Gangnam and Apgujeong, rental prices are much higher than those in outer districts such as Gwanak and Seodaemun. You can find some properties cheaper if you look at housing options offered by the Seoul Global Center, Inc. website (http://www.s-center.or.kr/en/center/serviceinfo/sub3/sub1.jsp), which provides information about value-for-money housing options.

Utilities

Utility costs are also quite high in Seoul. Gas and electricity charges averaged about 64,000 KRW per month in 2018, although this cost can vary according to usage and which utility company you use. NBN broadband services cost around 50,000 KRW per month for basic packages. You can save on costs by researching different packages and comparing prices from various providers. Other utilities such as phone bills, water and local taxes will add to your expenses. It’s worth noting that some utilities are not included in your rent and you may have to pay for them separately. Travelling on public transport is generally very cheap in Seoul, with a single metro journey costing as little as 1250 KRW. Buses are also an economical way to get around, with fares starting at 1000 KRW per trip.

Food and Groceries

The cost of food in Seoul varies depending on where you shop. Supermarkets tend to offer lower prices, but specialty stores can be more expensive. Restaurants are also quite affordable compared to other cities, but it is still advisable to budget accordingly. The average person spends around 123,000 KRW on groceries each month in Seoul. Prices range from around 5000 KRW per kilo for vegetables to 20,000 KRW per kilo for meat. Processed food items tend to be more expensive than fresh produce.

Entertainment

Entertainment in Seoul ranges from expensive activities such as VVIP concerts and luxury shopping trips to more budget-friendly activities such as visiting historical sites and parks. Prices for museum admissions, cinema tickets and theatre shows range from 10,000 to 40,000 KRW depending on the event or destination you choose. If you want to enjoy nightlife without spending a fortune, there are plenty of clubs, bars and karaoke rooms where you can have a great time at affordable prices. As a general rule, drinks at pubs and clubs range from 5000 KRW to 20,000 KRW per glass depending on the drink and venue you are visiting.

Conclusion

Overall, the cost of living in Seoul is higher than in many other areas throughout South Korea but still quite reasonable compared to cities in Europe and the US. Rent is the largest cost, but there are ways to reduce costs on utilities and food through careful budgeting and research into different options and packages. Entertainment is also relatively inexpensive compared to other cities, with plenty of opportunities to have fun without breaking the bank!

Insider’s Guide to Living in Seoul

If you’re planning on visiting the bustling capital of South Korea, Seoul, you’re likely wondering what it would be like to live in the city. Seoul is a fascinating and modern city with rich cultural offerings, affordable cost of living, and friendly locals. Here’s what you need to know about the cost of living and insider tips for living like a local in Seoul.

Cost of Living in Seoul

Seoul is generally affordable to live in compared to other major cities in the world like New York, London, or Tokyo. The cost depends on where you live, but in general, rent for a one-bedroom apartment in the city starts at around 600,000 KRW (500 USD) per month. Eating out can cost as low as 5,000 KRW (4 USD) for simple street food or up to 50,000 KRW (42 USD) for a fancy night out. Transportation in Seoul is extremely affordable, and the subway is extensive and connects most parts of the city. A single-ride subway ticket costs around 1,350 KRW (1.20 USD).

Attractions

Seoul has a lot of attractions to offer visitors. From the historical palaces of the Joseon Dynasty to the modern skyscrapers and entertainment districts, there’s something for everyone in Seoul. Here are some of the popular attractions that you should visit:

1. Gyeongbokgung Palace: Gyeongbokgung Palace is the largest palace in Seoul and is located in the heart of the city. Explore the stunning palace grounds, watch the traditional changing of the guard ceremony, and learn about the history of the Joseon Dynasty.

2. Namsan Tower: Namsan Tower is a must-visit spot in Seoul. Take a cable car to the top of the mountain and enjoy panoramic views of the city. The tower also offers a variety of dining options, including a revolving restaurant.

3. Myeong-dong Shopping District: Myeong-dong is one of the busiest shopping districts in Seoul, and it’s a great place to shop for Korean cosmetics, fashion, and souvenirs.

4. Bukchon Hanok Village: Bukchon Hanok Village is a charming neighborhood located in between Gyeongbokgung and Changdeokgung Palaces. The village is filled with traditional Korean hanok houses, cafes, and shops.

Dining Spots

Food is an important part of Korean culture, and Seoul offers some of the best dining experiences in the world. From traditional Korean dishes to international cuisine, Seoul has something for everyone. Here are some of the best dining spots in the city:

1. Gwangjang Market: Gwangjang Market is a traditional Korean market that dates back to 1905. The market is famous for its street food, including bindaetteok (mung bean pancakes), tteokbokki (spicy rice cakes), and mayak gimbap (addictive seaweed rice rolls).

2. Baekje Samgyetang: Baekje Samgyetang is a restaurant famous for its samgyetang (chicken soup with ginseng). The dish is believed to be good for health and stamina, especially during the hot summer months.

3. Namdaemun Market: Namdaemun Market is one of the largest traditional markets in Seoul, and it’s a great place to try local street food. Be sure to try the kalguksu (handmade noodles) and mandu (steamed dumplings).

4. Jungsik: Jungsik is a Michelin-starred restaurant that serves modern Korean cuisine with a contemporary twist. Reservations are recommended, and the tasting menu is a must-try.

Cultural Experiences

One of the best ways to experience Seoul is to immerse yourself in Korean culture. Seoul offers plenty of cultural experiences, including:

1. Korean Traditional Tea Ceremony: The Korean Traditional Tea Ceremony is a peaceful and meditative experience that involves brewing and serving tea in traditional Korean teaware.

2. Korean Traditional Music Concerts: Korean Traditional Music Concerts are held regularly at the National Theater of Korea, and they showcase traditional Korean music, dance, and theater.

3. Hanbok Experience: Hanbok is the traditional Korean costume, and wearing one is a great way to experience Korean culture. There are many places in Seoul where you can rent a hanbok and explore the city wearing it.

4. Korean Folk Village: Korean Folk Village is an open-air folk museum where you can experience traditional Korean culture and folk traditions, including traditional performances, crafts, and food.

Local History

Seoul has a rich history spanning over 2,000 years, and there are many historical sites to visit in the city. Here are some of the must-visit historical sites in Seoul:

1. Changdeokgung Palace: Changdeokgung Palace is a UNESCO World Heritage Site and was the second royal palace built during the Joseon Dynasty. The palace features beautiful gardens, intricate architecture, and secret tunnels.

2. Seodaemun Prison History Hall: Seodaemun Prison History Hall is a museum that showcases the history of the Korean independence movement. The museum is housed in a former prison where Korean independence activists were held.

3. Namsangol Hanok Village: Namsangol Hanok Village is a traditional Korean village that showcases the lifestyle and culture of the Joseon Dynasty. The village features restored hanok houses, traditional performances, and craft experiences.

Off-the-Beaten-Path Suggestions

If you’re looking to explore Seoul beyond the popular tourist destinations, here are some off-the-beaten-path suggestions:

1. Cheonggyecheon Stream: Cheonggyecheon Stream is a hidden gem in the heart of Seoul. The stream runs through a man-made river that was restored in 2005 to create a beautiful urban park.

2. Ihwa Mural Village: Ihwa Mural Village is a charming neighborhood that’s covered in colorful murals and street art. The village is located near Naksan Park and is a great spot for a leisurely stroll.

3. Seoul Forest: Seoul Forest is a large urban park that features a botanical garden, a deer park, and a butterfly garden. There are also walking and cycling trails, as well as art installations and sculptures.

4. Dongmyo Flea Market: Dongmyo Flea Market is a traditional Korean market where you can find anything from vintage clothing to antique furniture. It’s a great place for bargain hunting and exploring the local culture.

Conclusion

Seoul is a fascinating city with a unique blend of traditional and modern culture. From historical palaces and traditional markets to modern skyscrapers and trendy districts, there’s something for everyone in this vibrant city. Whether you’re visiting for a short trip or planning to stay for a while, these insider tips will help you live like a local and make the most of your time in Seoul.