How Much I Spend per Month Living in Daejeon, South Korea
So, if you’re thinking about teaching in Korea, you’ve probably heard alllll about savings and that low, low cost of living. You might’ve also heard something about free housing. What’s up with that?
Here’s my breakdown of how much I spend per month as an English teacher in Korea.
A few disclaimers:
I live in Daejeon, which is cheaper than Seoul or Busan
But I do live in a bougie area of Daejeon
I’m on my third year, which means I got a 200,000 KRW monthly raise at the beginning of my 3rd year renewal. So I can afford to spend/save more
I get an extra 100,000 KRW for working at two schools
We’re in a pandemic so I’m not traveling or eating out as much as I used to (rip those once-a-month Seoul excursions)
I spend less in winter because I let the spirit of a hibernating bear take over me and simply do not leave the house
I’m using estimates based off the last two years or so of monthly spending budgets—aka not so much my first year here. I spent A LOT when I first got here.
All figures are in KRW but for quick math, just take off the last three zeroes and you’ve got the amount in dollars. I.e. 200,000 KRW = roughly $200 (more like $180, but you get my point).
Click here to skip to the TLDR breakdown.
Rent
It’s true. You don’t pay rent if you’re an EPIK teacher. Typically your school chooses your housing and it’s entirely covered by them. Your 500,000 KRW deposit is taken out of your first paycheck, however.
Upon your second year, you can ask to move. Your school will give you a 400,000 KRW housing stipend (500k for SMOE) but otherwise you’re on your own. That means any realtor costs, key money or moving fees are yours.
Private schools (hagwons) also typically give you a housing stipend.
Korea works off a 전세 Jeonse system, which is where you pay key money (a deposit) on your new place. This can be anywhere from 50-80% of the market price, aka thousands of dollars. Your monthly rent is then significantly reduced. If you want to find your own place, keep that in mind.
Utilities
I pay a maintenance fee of 40,000 KRW every month. Water is 10,000 KRW at most. Electricity ranges from as low as 8,000 KRW a month to 40,000 KRW a month—it depends on how much I use my heater.
Lastly my phone bill was 50,000 KRW a month my first two years. It’s now 66,000 KRW.
Food
Eating out here is soooo cheap but delivery can still add up. Foreign foods or brands will be more expensive (weekly brunch? Maybe reconsider). I have another blog post about how to eat well (and cheaply) in Korea.
I spend anywhere from 50,000-150,000 KRW a month eating out. Since the pandemic started, I eat out less because I cook at home more often.
For groceries, I consistently spend 200,000 KRW a month. This has gone up after the pandemic started, since I’m home more, and my friends and I like to cook together. I splurge on fresh produce, which is pricy in Korea. I also use Coupang to get bulk orders on things I don’t want to carry home (oats, rice, coffee beans) or things I can’t get at my local mart (foreign foods, like tea, green chiles, or tortillas).
For lunches, I eat at school and the office takes about 90,000 KRW out of my paycheck per month.
Treats
This is what I call any time I go out for a coffee, beer, cupcake, whatever. I could put this under food but I thought I’d break it down a bit more.
This is another category that ranges wildly, from 20-80,000 KRW. Some months I just need more lattes, okay?
Transportation
Before corona, I spent maybe 60,000 KRW a month on busses and taxis. Thanks to ‘rona and the cold, now it’s pretty much always 20,000 KRW a month.
Savings
I send home anywhere from 1 million won to 1.5 mil KRW a month. I average 1.2 mil KRW savings a month, which is about half my paycheck. After conversion and bank fees, I end up saving at least $1,000 USD a month.
I know people who save more; I know people who save less. It’s up to your lifestyle choices and how much you want to save. My tip is to always send money home as soon as you get your paycheck. Pay your savings account first!
Health
I am ALWAYS shocked at how cheap healthcare is here. My Canadian friends actually think it’s a bit pricey, but I’m an American and I used to be uninsured, so…
An average doctor’s visit will be maybe 4,000 KRW with National Health Insurance. I’ve never paid more than 20,000 for any medication. A check-up and cleaning at the dentist is 17,000. I don’t wear glasses but my friends tell me that will be expensive—maybe 60,000 or so.
On average, I spend less than 10,000 a month on health. Vitamins can get kinda pricey tho.
Travel
Back in the good old days when international travel was a thing, I was always saving at least 200,000 KRW a month for big multi-week trips. Or I’d spend 100,o00 KRW on a weekend trip to Seoul.
Not so much these days. I haven’t been to Seoul since November, and I haven’t stayed overnight in over a year.
Busses to Seoul from Daejeon are roughly 10,000 KRW each way. KTX or similar trains will be around the same or a bit more expensive. An airbnb can be something like 50-80,000 KRW split three ways for three nights. And you have to keep in mind, going out for dinner or drinks in Seoul is gonna be pricier, especially if you go somewhere like Gangnam.
Home
I count this as supplies for my house, like paper towels, dish soap, laundry detergent, decorations, etc. Basically, any trip to Daiso. This is usually less than 40,000 KRW a month.
Clothes/Skincare/Make-up
When I first got to Korea, I blew my whole budget on clothes. I probably spent close to 300-500,000 KRW on clothes per month. Yikes. Okay, yes, I went a little wild because I loved the fashion here, but also (and more importantly) because I had no winter clothes. And it got cold, fast. Bless Uniqlo heat tech.
Now this category is anywhere from 0 to 200,000 KRW. Some months I don’t buy anything and others I have to restock my entire skincare routine. So it goes.
Generally, you can find cheap clothing in underground shopping malls. Thrifting is another good way to save coins and the quality is usually pretty good. Skincare and make-up are accessible—there’s an Olive Young on every corner.
To state the obvious, how much you’ll spend on clothing is really up to you. If you have no business casual, you might need that for school. If you don’t fit into Korean sizing, you might buy only online or visit stores in Itaewon. If you have no winter clothes, we’re kindred spirits.
Misc
I count events and hobbies under miscellaneous, so think any festival, concert, or gym membership. This one would vary wildly and was usually higher during the summer.
I used to spend 300,000 KRW for 3 months at a kickboxing gym, or 100,000 KRW for one month of dance classes. Rock climbing was 10,000 KRW per visit. Now, it’s 0, for aforementioned reasons.
Total
Because my lifestyle has changed so much with COVID, I’ll split these into two different categories. These are average estimates based on my monthly budgets.
Pre Corona
Rent: 0
Utilities: 130,000
School Lunch: 90,000
Groceries: 120,000
Eating Out: 150,000
Treats: 80,000
Transportation: 60,000
Savings: 1,000,000
Health: 10,000
Travel: 250,000
Home: 40,000
Clothes/Make-up: 150,000
Misc: 100,000
TOTAL: 2,180,000 KRW
TOTAL W/O SAVINGS: 1,180,000 KRW
During Corona
Rent: 0
Utilities: 130,000
School Lunch: 90,000
Groceries: 200,000
Eating Out: 80,000
Treats: 40,000
Transportation: 20,000
Savings: 1,500,000
Health: 10,000
Travel: 0
Home: 40,000
Clothes/Make-up: 150,000
Misc: 0
TOTAL: 2,260,000 KRW
TOTAL W/O SAVINGS: 760,000 KRW
Whew, I feel like I’m a bit flayed open right now. Like, here’s aaalll the dirty deets about my spending habits lol.
I’m hoping this breakdown helps for those of you considering moving here—or those of you who are simply curious. As you can see, my priorities and financial choices changed a ton after COVID. I spend more per month, but that’s because I’m sending more savings home.
Korea has a low cost of living compared to many cities in the US. Because we don’t pay rent and most of us don’t have cars, we don’t have many financial obligations. You can end up saving a lot. Many people come here to pay off student loans—I know I did.
The bottom line is always how much you spend in Korea wildly depends on your lifestyle and financial needs. And also whether you’re in a pandemic! Hopefully by the end of the year, life will return to normal-ish. A new normal.
Thanks for reading and stay safe!