Cost of Living in Korea for Foreigners (2026 Realistic Budget Guide)
Thinking of moving to South Korea in 2026? Whether you're a student, digital nomad, or full-time expat, knowing the real cost of living is essential.
In this guide, we break down the monthly expenses foreigners can expect in Korea — based on real data and local experience.
- 🏠 Rent prices (Seoul vs other cities)
- 🍜 Food & grocery costs
- 🚇 Transportation
- 📶 Internet & phone
- 🧾 Healthcare & insurance
- 💰 Example budgets (student, remote worker, family)
Let’s find out how much you really need to live comfortably in Korea.
1. Rent in Korea (2026) 🏠
Housing is the biggest monthly expense — especially in Seoul.
Foreigners typically choose one of the following:
- 🏢 One-room (studio): For singles or couples
- 🏘️ Officetel: Modern buildings, more amenities
- 🏠 Shared housing or Goshiwon: Budget option for students
📌 Monthly rent (2026 average):
| Location | One-room Rent | Deposit (Key Money) |
|---|---|---|
| Seoul (central) | ₩650,000 ~ ₩1,000,000 | ₩5M ~ ₩10M |
| Busan / Daejeon | ₩400,000 ~ ₩700,000 | ₩3M ~ ₩5M |
| Goshiwon (nationwide) | ₩250,000 ~ ₩450,000 | None |
💡 Many landlords require 1-year lease + deposit. Short-term furnished rentals are available but more expensive.
2. Food & Grocery Prices in Korea 🍱
Korea offers affordable meals — especially if you eat like a local.
📌 2026 average prices:
- 🍜 Local restaurant meal: ₩7,000 ~ ₩10,000
- ☕ Americano (café): ₩3,500 ~ ₩5,000
- 🍚 Grocery (1 month for 1 person): ₩250,000 ~ ₩400,000
- 🍕 Western-style meal: ₩15,000 ~ ₩25,000
💡 Cooking at home saves significantly — but fresh produce can be pricey depending on the season.
3. Transportation Costs 🚇
Korea has one of the best public transport systems in the world.
- 🚇 Subway/bus fare (per ride): ₩1,400 ~ ₩1,700
- 💳 T-Money monthly top-up: ₩50,000 ~ ₩70,000
- 🚕 Taxi base fare: ₩4,800 (Seoul)
- 🚴♂️ Seoul bike rental pass (30-day): ₩5,000
💡 No need to own a car — even in the suburbs.
4. Phone, Internet & Utilities 📱
📶 Monthly costs in 2026:
- 📱 Mobile data plan: ₩30,000 ~ ₩50,000
- 🌐 High-speed internet (Wi-Fi): ₩25,000 ~ ₩35,000
- 💡 Utilities (gas, water, electricity): ₩80,000 ~ ₩150,000
💡 Many officetels and studios include Wi-Fi in the rent.
5. Health Insurance & Medical Costs 🏥
Foreigners staying over 6 months must enroll in the National Health Insurance Service (NHIS).
📌 Monthly NHIS premium: ₩120,000 ~ ₩140,000 📋 Coverage: 70–90% of most treatments
Example costs (with NHIS):
- 🩺 Doctor visit: ₩10,000 ~ ₩20,000
- 💊 Prescription meds: ₩5,000 ~ ₩10,000
- 🦷 Dental cleaning: ₩30,000 ~ ₩50,000
💡 Private insurance plans also available — especially for students or short-term stays.
6. Monthly Budget Examples (2026) 💼
| Profile | City | Monthly Cost (₩) |
|---|---|---|
| Student (Goshiwon) | Busan | ₩600,000 ~ ₩900,000 |
| Digital Nomad (One-room) | Seoul | ₩1.5M ~ ₩2.2M |
| Family (2 adults, 1 child) | Daejeon | ₩2.5M ~ ₩3.5M |
💡 Your actual budget will depend on lifestyle, eating habits, and housing choices.
Conclusion: Korea Can Be Affordable — If You Plan Smart ✅
Living in Korea as a foreigner in 2026 doesn't have to break the bank.
With efficient public transport, affordable local food, and multiple housing options — you can live well within your means.
Plan your stay, compare cities, and track expenses for a smooth transition.
Up next: Korea’s best bank accounts for foreigners — where to open, what to prepare, and how to avoid hidden fees.
