The costs of living in Seoul are in the most expensive 10 per cent of all 248 Teleport cities. On a national level, a family of four will have to spend an average of 2,300,000 KRW per month (US$2,000) for living expenses (excluding rent).
Seoul is the sixth most expensive city in the world. The monthly cost of living in Busan for a family of two with a modest lifestyle is US$2,184.
In Incheon, it is US$1,106 and it seems expensive according to the average monthly salary which is US$895.
South Korea is a crowded country with approximately 90 per cent of the land being mountainous.
Koreans have had to use space ingeniously. By far, the most popular type of housing in South Korea is the apartment, and renting apartments is expensive. In a middle-class area in Seoul, the monthly rent for an apartment can easily top 1 million won (US$850) for an old building in pretty rough condition.
Apartments tend to be two or three-bedroom units, and are built largely for families.
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