South Korea Market real Price, rental, beer, restaurant, hotel, etc

 

1. Republic of Korea Korea price information

• Capital Seoul
• language korean
• Currency Unit Korean Won (KRW, ￦)
• Area 10,041,259.87ha World 108th (2020 Ministry of Land, Infrastructure and Transport, FAO standard)
• Population 51,558,034, 29th in the world (based on 2023 Statistics Korea, UN, National Statistical Office of Taiwan)
• GDP $1,810.2 billion (10th in the world) (based on 2021 Bank of Korea, The World Bank, National Statistical Office of Taiwan)
• Climate A continental climate in terms of temperature, and a continental climate in terms of precipitation and wind...
• History In Korean history, the stages of the Paleolithic Age, the Middle Stone Age, and the Neolithic Age...more
• GDP per capita $34,983.7 ranked 24th in the world (based on 2021 Bank of Korea, The World Bank, National Statistical Office of Taiwan)

Source : naver.com country information

 

2. Korea Restaurant, mart, transportation, utilities, education, real estate, monthly rent prices

In order to compare the nominal and actual prices of Korea (South Korea) with other countries, we surveyed them as standard data. Speaking of nominal, since this survey is the current price, it was not natural to reflect the interest rate or inflation rate of the country, and it is the actual price of the market currently investigated or still being investigated. For the survey data, the data surveyed by Numbeo and the data directly entered by individual consumers (contributors) of the country were processed and used according to the national tendency and purpose of Korea. I think that the data is more accurate than the data from the World Bank or the IMF, because the data cloud data processing is being processed, so price reflection is very fast and more flexible. Prices and exchange rates are as of the date of writing. When compared to other countries, there may be slight errors due to differences in exchange rates by date. For example, it is the case that the price date of Korea and the price date of the country to be compared do not match. The purpose of data research is to hope that the data will be used well in relation to overseas migration, immigration, living for a month, dispatch, training, and study abroad. * Prices and exchange rates in this document are as of the date of writing.

2.1 Prices of eating out in Korea. This is the average price.

• In the case of local restaurants (Inexpensive), the average price per person is 8,000 won, and the cheapest menu is 6,000 won.
• Mid-Range restaurants average 25,000 won per person, and if you choose the cheapest menu, you can even go for 15,000 won.
• McDonald's combo price is 7,500 won
• The average price of local draft beer (0.5 liter) at restaurants in Cas, Terra, and Max is 4,000 won, and cheaper places sell it at 2,500 won.
• Imported bottled beer (330 ml) sells for an average of 6,000 won at restaurants
• The price of Coca-Cola (330 ml) is 1,842 won.

 

2.2 This is the price of daily necessities in Mart convenience stores.

• The price of 1 liter of milk is 2,684 won
• Rice 1Kg price is 4,499 won
• 1 pack of 12 eggs is 4,261 won
• Chicken Kg 11,938 won
• Banana 1Kg is 4,458 won
• Potato 1Kg is 4,710 won
• Onion 1Kg is 3,688 won
• The average price of 1.5 liters of water sold is KRW 1,356.
• Average of 2,723 won for 500 ml of domestic beer
• Average of 3,114 won for 330 ml of imported beer
• Cigarettes (Marboro) cost 4,500 won.

2.3 Transportation expenses were investigated only by taxi and gasoline prices.

• The average taxi fare is 3,500 won.
• Taxi fare is KRW 1,000 per 1km
• The average gas station price for 1 liter of gasoline is 1,745 won.

 

2.4 Utility Charges. Only maintenance costs (heating, water, electricity) and internet charges were investigated.

The maintenance fee is KRW 193,425 per month based on an apartment size of 32 pyeong. The internet fee is KRW 28,212 per month.

2.5 Cost of education surveyed private kindergartens and international schools.

Since all national and public services in Korea are free of charge, this data was investigated for overseas comparison.

• Private Kindergarten (all day) 473,176 won per month International School is KRW 26,827,985 per year. It's expensive.

 

2.6 Real estate is the purchase price of an apartment.

• The average apartment price per square meter in the city center in Korea is KRW 18,832,959
• The average price of an apartment per square meter in Korea outside the city is 11,152,046 won.

Note: I tried to find the data, but it is difficult to distinguish the price of apartments in the city center and out of town. It would be better to judge whether it is a simple downtown area or not.

2.7 This is the monthly rental price of a house. This is the average monthly rent for an apartment.

• The average monthly rental price  (in the city center) is KRW 612,083 per 1 square meter.
• In the case of a studio (outside the city), the average monthly rental price is KRW 461,714
• In the case of three rooms (city center), the average monthly rental price is KRW 1,764,303
• For a three-bedroom (outside the city) average monthly rental price is KRW 1,113,099

3. Hyungbae's price index, monthly living index Hyungbae's Korean price index is '1'

The price index is an index obtained by dividing the simple sum of the total price of dining out, supermarkets, transportation, management, education, rent, and real estate in Korea by the sum of the total in Korea. Therefore, Korea's price index is 1. The price index can be seen as a measure of how much a country's price level is compared to Korea. If the country's price index is 0.8, you can understand that it is 20% cheaper than Korea. Hyungbae's price index = Country A/Korea price index (KRW 32,420,794)

4. Hyungbae's monthly living index

The month-to-month living index is measured only for dining out, supermarkets, and transportation expenses, and lodging, leisure activity, and education expenses are excluded. If you go abroad to live for a month, transportation and food expenses are the most important points. (Based on a family of 4 (couple, 2 children)) The month-to-month living index is an index that compares the estimated total cost of living in a country for a month by dividing the cost of living in Korea for a month. Hyungbae's Monthly Living Index = Monthly Living Cost in Country A/Korea Consumer Price Index 3rd Quartile (Median Income) Household Expenditure (2,811,272Won)   Note: There is an important missing price point. It seems that data about 1) hospital expenses and 2) elementary and secondary school expenses are missing.