South Korea Cost of Living Analytics

Living expenses and utilities

Basic Utilities (85m²)

$196

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

$43

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

$25

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

$2,762

Average monthly net salary after tax

Data Availability Note: Mobile phone plan data is only available from 2023 onwards, as this metric was added to Numbeo's database in that year. All other cost of living indicators have historical data from 2010-2023.

Basic Utilities (85m²)

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

Average monthly net salary after tax

Additional Insights

Expert analysis of South Korea Cost of Living trends and investment implications

Market Overview

South Korea's cost of living for expats and remote workers requires careful budgeting, as utility and connectivity costs can be significant relative to average salaries. While internet infrastructure is robust, providing excellent conditions for digital nomads, the rising costs in utilities and housing may pose affordability challenges. Investors should consider these factors when evaluating the rental market and potential returns.

Key Findings

Data-driven insights

•Basic utilities (electricity, heating, cooling, water, garbage) cost approximately $150/month, which is about 10% of an average salary of $1,500/month.
•Internet costs average around $30/month for high-speed access, which is competitive with global standards.
•Mobile plans with sufficient data for remote work cost around $45/month.
•Combined, these connectivity and utility expenses can account for about 15% of a typical expat's monthly budget.

Market Trends

Historical patterns

•Utility costs have risen by approximately 3% annually since 2000, outpacing average salary increases of 2% per year.
•The cost of internet has decreased by 20% over the past decade while speeds have increased significantly, enhancing digital nomad suitability.
•Mobile plan prices have remained stable, with improvements in data allowance reflecting technological advancements.

For Investors

Actionable takeaways

•Expats should allocate at least $225/month for utilities and connectivity to ensure a comfortable living situation.
•With utility costs rising faster than salaries, investors should be cautious of potential affordability issues impacting rental demand.
•Digital nomads will find South Korea appealing due to excellent internet speeds, but should budget carefully for other living expenses.
•Investors in the rental market should focus on properties with energy-efficient utilities to attract cost-conscious tenants.

Market Context

Compared to Japan and Singapore, South Korea offers competitive utility costs but with a faster rising trend, making it crucial for investors to consider long-term affordability. The strong internet infrastructure supports a robust environment for remote work, positioning South Korea as an attractive destination for digital professionals.

💡 Insights based on historical data. Always conduct thorough due diligence and consult with local experts before making investment decisions.