Yes, food in Korea is cheap. If you want a Korean meal, buying the ingredients at a grocery store and preparing them at home is even less expensive.
Korean food doesn't have as high of an international profile as some other national cuisines, so once you arrive in South Korea, you will have plenty of new food to try. Fortunately, the food price in Korea is exceptionally low (and the food is delicious), making the cost of traveling in South Korea a pretty good deal.
Having $8 or ₩10,000 will get you a filling meal. If you don't mind scrimping on food so you can use your money on sightseeing or shopping, you can also have gimbap or Korean rice roll for a meal. A serving costs less than $4 in a resto-style snack bar and around $2 in a convenience store.
The cost of eating out versus cooking at home in Korea can vary depending on a number of factors such as location, type of food, and quality of ingredients. Generally speaking, it is often cheaper to cook at home in Korea than to eat out, especially if you are looking to prepare simple and traditional Korean dishes.
If you're eating out at a Korean restaurant, then look to spend around 10,000 – 15,000 KRW ($9 – $13) for a meal. When eating at a more western restaurant, then you might spend 20,000 KRW ($18) at minimum for a meal. Fast food or a small meal will range around 5,000 – 7,000 ($4.50 – $6.30).
Research conducted by American finance advisor SavingSpot has examined the average cost of consuming coffee in 104 countries and found that South Korea was the most expensive, with the average price of coffee costing US$7.77.
In South Korea, a typical fast food meal costs: 5.70 USD (7,500 KRW) for a McMeal at McDonalds or BurgerKing (or similar combo meal), and 1.70 USD (2,200 KRW) for a cheeseburger. For coffee lovers: cappuccino coffee 3.60 USD (4,700 KRW) and espresso 2.50 USD (3,300 KRW).
According to a survey conducted in South Korea in 2021, around 34.5 percent of millionaires surveyed stated that households with a minimum annual income of 500 million South Korean won or more can be perceived as rich.
Attractions such as palaces, temples, and markets are free or very affordable, while other entertainment options such as shopping, nightlife and adventure parks ensure there's something for everyone. With the vast amount of options available, Seoul is the perfect destination for travellers of all budgets.
At $6.71 per sandwich, Switzerland has the most expensive Big Mac in the world. This is almost double the price of a Big Mac in South Korea or Thailand, where it only costs around $3.50.
Illegal drugs such as opium, marijuana/cannabis, cocaine, etc. * Including but not limited to: medicines, handbags, wallets, stoles, taxidermy and ivory from animals such as elephants, leopards, and alligators. Cashier's checks, overdraft checks, postal money orders, etc.
It is recommended to bring a minimum amount of cash with you. $200 USD should be enough to pay for small items and in case your card doesn't work. All of your other expenses should be paid with your card. Bring at least 2 cards and inform your bank you will be traveling to South Korea.
This depends on your style of travel, but a mid-range budget for a solo traveler spending 10 days in South Korea would be about $65USD per day. If you're willing to stay in cheap hostels, stick to more free activities in Seoul, and eat local foods, then you could get it down to maybe $40USD per day.
Tipping is not required nor expected in Korea. But most major hotels add a compulsory 10% service charge to bills. This is on top of the 10% VAT (which is usually included in prices at most stores in Korea, but not in some high-end restaurants).
Grocery prices in South Korea are currently 24.66 percent higher than in the United States. For example, an average loaf of bread in Seoul costs $14.82.
US$100 a day is more than enough. My personal experience in Itaewon was it is more expensive than other parts of Seoul and you must bargain.
Koreans don't distinguish among breakfast, lunch, or dinner, so it's not unusual to eat rice three times a day. In addition to individual bowls of rice, you may get a single serving of soup. Hot pots (jjigae or jungol), which are thicker and saltier, are set in the middle of the table for everyone to share.
Alcohol is cheap.
Super cheap. You can buy 375ml of soju, a clear liquor comparable to vodka, for a little more than 1 USD and a liter of Cafri or Cass beer for less than 2 USD.
The average salary in South Korea is KRW 47,145,828 per year.
The strong association with the South Korean public and the US has helped make coffee desirable and with many Koreans associating coffee and Starbucks as a lifestyle choice, it has become a status symbol throughout Seoul.
Buying a cafe latte costs well over 5,000 won now in Korea, with the price set at 5,000 won at Starbucks, 5,700 won at Paul Bassett and 5,800 at The Coffee Bean & Tea Leaf. “We have no plans to increase coffee prices further as we already had a price increase last year,” an official at Starbucks Korea said.