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Singapore vs South Korea
Compare cost of living, taxes, salaries and visas between Singapore and South Korea.
| Singapore | South Korea | |
|---|---|---|
| Cost of living | ||
| Cost of living index | 134 | 84 |
| Taxes | ||
| Income tax (top rate) | 24% | 45% |
| VAT / sales tax | 9% | 10% |
| Corporate tax | 17% | 24% |
| Capital gains | 0% | — |
| Economy & salaries | ||
| Avg net salary | $4,500/mo | $2,500/mo |
| Minimum wage | — | $1,500/mo |
| GDP per capita | $98,814 | $35,563 |
| Inflation (annual) | 0.9% | 2.3% |
| Life expectancy | 83 yr | 84 yr |
| Quality of life | ||
| LGBTQ+ acceptance | Low | Low |
| Digital-nomad visa | No | Yes |
? Frequently asked questions
Is Singapore cheaper than South Korea?
South Korea is about 37% cheaper than Singapore overall — its cost-of-living index is 84 versus 134 for Singapore.
How much do you need to earn in South Korea to live like in Singapore?
To keep the same standard of living, a $75,000 salary in Singapore is worth about $47,230 in South Korea. Enter your own figure in the calculator above.
Which has lower taxes, Singapore or South Korea?
Singapore has the lower top income-tax rate — 24% versus 45% in South Korea.