✦ Cost of living
South Korea
National taxes, visas and economy — plus every city we track in South Korea.
The cost of living in South Korea averages 84 on our index (a typical US city = 100) — about 16% cheaper. A one-bedroom rent runs roughly $900/mo and the top income-tax rate is 45%. The average net salary is about $2,500/mo.
- Currency
- South Korean won (₩ KRW)
- Languages
- Korean
- Capital
- Seoul
- Driving
- Right-hand side
- Power
- C/F · 220V
▤ Taxes
45%
Income tax
progressive
10%
VAT / sales
24%
Corporate
$2,500
Avg net salary
per month
$61,259
Avg annual wage
per year · OECD (PPP)
$1,500
Minimum wage
per month
83.6 yr
Life expectancy
World Bank 2024
✈ Visas & residency
Points-based E-7 skilled visa and F-2 residence tracks; a workation (F-1-D) nomad visa launched 2024.
✈ K-ETA or visa-free short stays for many passports.
2024; remote workers, ~$65k/yr income.
Employer-sponsored, occupation list.
❖ Cities in South Korea
⚖ Compare South Korea with other countries
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