Philippines vs South Korea comparison: Cost of Living [2023] (2024)

FAQs

Is it cheaper to live in South Korea or the Philippines? ›

Cost of living in Philippines is 43% cheaper than in South Korea.

The positions in which South Korea and the Philippines stand today, however, are completely reversed as various economic indices indicate that South Korea outperforms the Philippines.

The average cost of living in South Korea is reasonable. It is not as cheap as living in some Asian countries like Laos or China, but it is also not as expensive as Japan or Singapore. In general, the most expensive living costs in the country will be found in the capital, Seoul.

South Korea's cost of living is on the rise, but it's definitely still possible to visit on a budget. Between its vast and affordable transit system, wide range of dining options and abundance of low-cost activities and attractions, South Korea can prove a relatively inexpensive travel destination.

Many South Koreans living in the Philippines are attracted to the low cost of English-language education and housing, both significantly cheaper than those offered in their native South Korea. The warmer climate is yet another motivating factor for the recent surge in migration.

Some average living costs are (in ₩ and USD): Monthly rent (1 bedroom apartment): 975,000₩ ($830) Utilities (monthly average): 200,000₩ ($170) Monthly public transport pass: 55,000₩ ($45)

Diplomatic ties

The Philippines and South Korea have shown a resilient relationship throughout times of crisis by weathering the storm and strengthening their ties within the difficult background of the COVID-19 pandemic. This time has shown how deep their friendship is, as seen by their collaboration and support.

Filipino language is primarily based on Tagalog, while Korean language is based on Hangul. Filipino culture has been influenced by various cultures such as Malay, Chinese, Spanish, and American, while Korean culture has been influenced by Confucianism, Buddhism, and Taoism.

Thailand is a much more developed country than the Philippines. Thailand has a higher GDP per capita, lower poverty rate, and better infrastructure. The Thai economy is also more diversified and resilient to external shocks compared to the Philippines.

On average, however, expect to pay about 500,000 KRW (425 USD) per month for this type of accommodation in big cities. Bigger apartments in Seoul average around 1 million KRW (850 USD) per month, yet it is not uncommon to see listings with 5–6 million KRW (4,300–5,100 USD) monthly price tags.

How much does a house cost in Korea? ›

As of November 2023, the mean purchase price of housing in Seoul, South Korea amounted to around 819 million South Korean won. The average price of apartments amounted to around 1.05 billion South Korean won while the price of row houses was about 341 million South Korean won.

The average sale price of a home in the greater Seoul area shot up from 341 million won ($274,000) in May 2017, when Moon was inaugurated, to 626 million won ($503,000) as of March 2022, according to the Korea Real Estate Board.

While Seoul is the modern capital city of South Korea, many locals aren't fluent in English. It's generally not a very widely spoken language in South Korea. However, you'll have better luck finding a local who can speak English in main tourist areas, such as Myeongdong, Dongdaemun and Hongdae.

According to Gallup's “World Happiness Report,” which surveyed some 150 countries around the world, Korea's average life satisfaction in the period 2020-2022 measured 5.95 points, which ranked fourth from the bottom among the 38 member states of the Organization for Economic Co-operation and Development.

The average cost of a meal at a nice restaurant in Korea, specifically in Seoul, can vary depending on the type of cuisine and the location of the restaurant. However, on average, a meal at a nice restaurant in Seoul can range from 20,000 to 50,000 Korean won, which is equivalent to approximately $18 to $45 USD.

Is South Korea a Good Place to Live? Yes, South Korea is a fantastic place to live! It offers a blend of modern amenities, a rich cultural heritage, excellent healthcare, efficient public transportation, delicious cuisine, and a safe environment.

The cost of living in Japan and South Korea can vary depending on several factors such as location, lifestyle and choice of accommodation. In general, Japan is slightly more expensive than South Korea, with Tokyo being one of the most expensive cities in the world to live in.

The cost of living is significantly lower in the Philippines than in the United States. The average cost of living for an individual is 72.4% lower than in the United States. For a family, the average cost of living is 68.9% lower in the Philippines than in the United States.

A: Seoul is one of the most expensive cities in South Korea, and the cost of living can be relatively high compared to other cities. Students can expect to spend around 27,00,000 (INR 1.6L) monthly on accommodation, food, transport, and other living expenses.