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Check out detailed tips and tricks, as well as information from our KGY Community for everyone who is considering going abroad.
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Disclaimer: The following cost breakdown is an estimate based on the experiences of past participants and the current economic situation in Korea. Actual expenses may vary depending on individual lifestyle choices and personal spending habits.
💰 How Much Does a Gap Year in South Korea Really Cost? 💰
If you are considering taking a gap year in South Korea, you are probably wondering about the costs involved. A six-month stay in Korea can be an exciting adventure, but it is essential to plan for the financial side of things. That is why KGY is going to break down for you what you can expect to pay, including housing, transportation, food, entertainment, and other necessary expenses, while also providing some cultural insights about life in Korea.
One of the most significant expenses for anyone living in South Korea will be accommodation. Typically, you will need to pay a deposit for a rental property, and this can range from up to 10,000 USD depending on the type of housing.
If you choose to rent through Korea GapYear (KGY), we have special agreements with our partner houses that can offer you a more affordable housing option.
# KGY Cultural Insight TIP:
Housing in Korea often comes with a "key money" deposit, known as "보증금". This is a significant part of Korean culture, where tenants give a large sum upfront. While this system is not used in most gap year accommodations, it is worth knowing that rental practices can differ from what you are used to.
Housing deposits are refundable, but it is important to know that the initial payment can be substantial. If you are considering an apartment on your own, remember that the deposit might be as much as 10,000 USD.
If you stay with one of our partner houses, you will be able to enjoy more affordable rates and special deals, making your overall budget more manageable.
Public transportation in South Korea is efficient, and it is quite affordable compared to many other countries. A typical public transportation ride will cost around 1,400 KRW (1 USD), and if you travel twice a day, your daily transportation cost will be 3,400 KRW.
Multiplying that by 31 days gives you a monthly transportation cost of approximately 105,400 KRW (roughly 80 USD). Most people spend an average of 20,000 KRW more on transportation per month, so you can adjust your budget depending on how much you travel.
# KGY Cultural Insight TIP:
The Korean subway system is one of the best in the world, offering not just punctual and clean trains but also signs in English. It is an essential part of daily life in Korea, especially in major cities like Seoul. You will also experience the culture of subway etiquette, which includes standing on the right side of escalators to allow others to pass.
Food costs can vary depending on your eating habits, but for a rough estimate, if you spend around 10,000 KRW per day on food, coffee, snacks, and dining out, this adds up to about 310,000 KRW per month (around 230 USD).
Here are a few examples of popular Korean dishes you might enjoy during your gap year:
# KGY Cultural Insight TIP:
Eating is an important social activity in Korean culture. Meals are often shared with family, friends, or colleagues. "Banchan" (반찬), or side dishes, are a hallmark of Korean meals, and you will often find a variety of small dishes served along with your main dish. The practice of eating together fosters a sense of community and strengthens social bonds.
The basic toiletries and necessities like toilet paper, shampoo, and other hygiene products typically cost around 50,000 KRW to 70,000 KRW per month (roughly 35-50 USD).
# KGY Cultural Insight TIP:
In Korea, personal care products are of excellent quality and often available at low prices, especially in large convenience stores or specialized shops like Olive Young and Daiso. Korean beauty (or K-beauty) is a global trend, and you will find a range of skincare products that cater to different needs.
Korea is a vibrant country with plenty to do for fun, including meeting friends, dining out, shopping, and going to bars. Entertainment expenses can vary, but you can expect to spend around 50,000 KRW per weekend (about 35 USD). Over the course of a month, that totals about 200,000 KRW (around 150 USD) for entertainment.
Here are a few things you might want to try during your gap year:
# KGY Cultural Insight TIP:
Korea’s entertainment scene is a reflection of its fast-paced, energetic society. Whether it is indulging in K-pop, gaming, or visiting traditional cultural sites, entertainment is a way of connecting with others and embracing both modern and traditional aspects of Korean life.
Adding up transportation, food, basic necessities, and entertainment, you are looking at approximately 615,000 KRW (roughly 460 USD) per month in basic living expenses. This can fluctuate by about 50,000 KRW depending on your personal habits.
Here is an estimate of how much rent would cost per month, based on different types of accommodation:
If you go for a budget-friendly shared house or an apartment at 1,000,000 KRW per month, your total rent for 6 months would come to 5,568 USD.
On the other hand, a slightly more expensive accommodation option at 1,500,000 KRW per month would raise your total rent for 6 months to 6,768 USD.
Let us calculate the total expenses for each option:
As with any international budget, you should keep in mind that currency exchange rates can fluctuate. Currently, the exchange rate is favorable for USD holders, but if the exchange rate worsens, you might need to account for an additional 50 USD per month to ensure you are covered.
At Korea GapYear (KGY), the organization understands that moving to a foreign country can be overwhelming. That is why the organization offers a comprehensive support system for all participants. From the moment you arrive, the dedicated counselors and staff will be there to guide you through your transition. The organization ensures you are informed on everything you need to know – from cultural norms and etiquette to how to navigate daily life in Korea.
# KGY Cultural Insight TIP:
KGY’s counseling services are an essential part of your experience in Korea. Understanding the cultural nuances, like how to greet people, show respect (through bowing or using polite language), and navigate group dynamics, will ensure that you feel comfortable in any situation.
The organization’s goal is to help you feel comfortable and well-prepared, so you can live your gap year experience to the fullest. The organization provides you with all the practical advice and insider tips you need to make your time in Korea as smooth and enjoyable as possible.
A gap year in South Korea is an incredible experience, but it is important to plan your budget accordingly. With housing costs, transportation, food, and entertainment, a six-month stay can cost anywhere from 5,500 to 7,500 USD depending on your living arrangements. However, if you stay with one of the special partner houses, you can enjoy a more affordable accommodation option that fits your budget.
Remember, KGY is here to support you throughout your journey. With the counseling services and in-depth knowledge of life in Korea, the organization ensures you have all the tools to live safely and confidently while making the most of your gap year in South Korea.
For more details, please do not hesitate to reach out. Let us make your gap year experience in Korea unforgettable!
OVERVIEW
|
Category |
Estimated Monthly Cost (KRW) |
Estimated Monthly Cost (USD) |
6-Month Total Cost (KRW) |
6-Month Total Cost (USD) |
|
Transportation |
105,400 |
80 |
632,400 |
480 |
|
Food |
310,000 |
230 |
1,860,000 |
1,380 |
|
Basic Necessities |
60,000 |
45 |
360,000 |
270 |
|
Entertainment |
200,000 |
150 |
1,200,000 |
900 |
|
Rent (1,000,000 KRW) |
1,000,000 |
750 |
6,000,000 |
4,500 |
|
Rent (1,500,000 KRW) |
1,500,000 |
1,130 |
9,000,000 |
6,750 |
|
Total (1,000,000 KRW rent) |
1,615,000 |
1,230 |
9,690,000 |
7,668 |
|
Total (1,500,000 KRW rent) |
2,115,000 |
1,600 |
12,690,000 |
9,768 |
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