Korean culture is sweeping the globe at an increasing rate. A growing number of students are considering relocating to South Korea. Korea's cost of living is gradually growing as the country grows. Seoul, with the world's eighth most expensive real estate, is not a cheap city to live in. However, for a student who thinks ahead, living here and enjoying life as a student is not impossible. In this article, I'll discuss the factors that influence the cost of living in South Korea, with an emphasis on students. Your expenditures may vary, but this is my experience after four years in this city. Some of the costs of living in Seoul listed below may not be applicable to you. Tuition fees and internet plans are examples of costs. It will, however, give you a general notion of what to expect. Finally, if you do not live in Seoul, these costs will be different. The cost of living in other parts of South Korea is comparable to Seoul's, but it will be less expensive. Other big cities, like as Busan, are significantly less expensive than Seoul. The most noticeable disparities between Seoul and other cities are the pricing of food and rent. Other pricing, such as phone and internet services, will remain consistent across the country.
South Korea's minimum salary is 8590KRW. That works out to $7.24 or Rs 539.54 at the time of writing. The exchange rate, on the other hand, is always fluctuating. The daily and monthly minimum wages are respectively 68,720KRW (assuming an 8-hour workday) and 1,443,120KRW (21 workdays per month). At the time of writing, that works out to $57 or Rs 4247 per day and $1200 or Rs 89425.90 per month. The cost of living in Seoul can be divided into 6 different ways; Utilities (Rs5, 216.51), Food (Rs 20,866.05), Transport (Rs 5,961.73), Internet and Phone (Rs 7,452.16), Health Insurance (Rs 3,726.08), and Rent (Rs 29,808.64). These rates are based on a typical one-room apartment, an unlimited phone package for youngsters (under 24), and a less expensive internet choice. Of course, each person's costs will vary, and this article makes some assumptions. However, over my four years in South Korea, these have been the costs that I have found to be reasonable. If necessary, you will be able to reduce your costs. The charges listed above will allow for some great perks. For example, the price includes an unlimited phone plan, which isn't necessary for many people.
Goshiwon is home to the majority of international and South Korean students. Goshiwon is a type of shared housing. Students may have their own room, but they may also share a room with up to four other students. You'll always have to share a kitchen and, on sometimes, a bathroom. In the United States, this sort of lodging is referred to as dorms, while in Europe, it is referred to as halls or corridors. Your school, a contractor approved by them, or private landlords can rent Goshiwon to you. In South Korea, the private renting sector is well-regulated. Even in more rural areas of South Korea, chip-and-pin and contactless bank cards are frequently accepted. There are also a lot of ATMs. You'll still need cash, though, because market stalls and street food vendors rarely accept credit cards.
