Can 800,000 KRW (Approx. 600 USD) Suffice for a Student’s Life in Seoul, South Korea?

As a student in Seoul, South Korea, living on a monthly budget of 800,000 KRW (approximately 600 USD) presents various challenges. However, it is possible with careful expense management. To fully understand if this budget is sufficient, it's essential to consider the costs of housing, food, transportation, and other essential expenses.

Housing Costs:

Rent: Housing costs in Seoul can vary significantly based on the type and location of accommodation. A goshiwon, a small room in a boarding house, might cost between 200,000 to 500,000 KRW per month. Shared apartments or off-campus housing are generally more expensive, but still within the budget. For instance, a shared apartment can cost around 700,000 to 800,000 KRW per month.

Food Costs:

Groceries: If you prefer to cook your meals, you can expect to spend around 200,000 to 300,000 KRW per month. This budget is manageable for groceries, but eating out can be more expensive. Inexpensive restaurants might offer meals for around 6,000 to 10,000 KRW, making dining out less economic.

Transportation Costs:

Public Transport: Living in Seoul means accessing an efficient and affordable public transport system. A monthly subway or bus pass costs around 60,000 KRW. This includes daily commuting to school or work, which is a significant portion of monthly expenses.

Other Expenses:

Utilities: Additional monthly expenses include utilities such as electricity, gas, and water. These costs can add an extra 50,000 KRW to your monthly budget. Internet and Phone: A standard internet and mobile phone service can cost around 30,000 to 50,000 KRW. **Miscellaneous: Entertainment, study materials, and personal expenses can vary widely. Depending on your extracurricular activities, these costs can range from minimal to significant.

Managing Your Budget:

Managing your expenses wisely is crucial for staying within budget. Many students supplement their income through part-time work, which is common and often essential in Seoul. Even with careful cost management, additional expenses such as tuition, health insurance, and extracurricular activities can strain your budget.

Personal Experiences:

Some students find ways to reduce costs. For example, staying on campus allows you to avoid daily transport and can be cost-effective if you choose to live in shared accommodations. However, curfews can make it challenging to manage your time effectively. Students have shared themselves staying out late and using transport late at night, with some even falling asleep on the subway. Grocery shopping is another way to keep your bills low, but if you stay on campus, you might be limited to the school dining hall or forced to eat out, balancing out the costs.

Pre-Trip Expenses:

Preparation for relocating to Seoul also incurs some upfront costs. Airfare is the most significant expense, with round-trip tickets being the most budget-friendly option. Buying a single round-trip ticket is riskier, but it is often more expensive.

Many students share their excitement about studying in Korea, highlighting the cultural and personal growth it offers. They remind new students to carefully plan their finances and prepare for potential expenses outside of tuition, including health insurance and extracurricular activities.