How much is a loaf of bread in South Korea? (2024)

How much is a loaf of bread in South Korea?

Average Cost of Necessary Items

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.

Cost of Living

Even though Seoul came sixth overall, it had the highest average price for a loaf of bread of any city by far. On average, South Koreans have to pay $15.59 for a 1kg loaf of bread in their capital. That's much higher than Geneva where it averages $6.45.

For those on a mid range budget, 120 000 krw should be enough and for those on a luxury budget, a minimum of 200 000 krw should be ok. It is recommended to bring at least around 200$ in cash. You can use this in places that don't accept cash or in emergencies.

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.

There's no denying that South Korea is an expensive country. Indeed, the capital Seoul frequently ranks as one of the world's most expensive cities to live in. In 2021, Seoul has ranked 11th out of 209 cities in the Mercer Cost of Living Survey.

While meal prices in South Korea can vary, the average cost of food in South Korea is ₩30,541 per day. Based on the spending habits of previous travelers, when dining out an average meal in South Korea should cost around ₩12,216 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

What is considered expensive in Korea?

Generally, you should expect to spend between $50-150 per person, per day to travel in South Korea, depending on how many people are in your group and what you consider to be an acceptable level of comfort. (You can, of course, travel a bit more cheaply and significantly more expensively than this!)

While meal prices in Seoul can vary, the average cost of food in Seoul is ₩33,012 per day. Based on the spending habits of previous travelers, when dining out an average meal in Seoul should cost around ₩13,205 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

In general, you should expect to pay around 1.5–2.5 million KRW (130,000–215,000 USD) for a small apartment or a studio in Korea. Prices for bigger accommodation start at about 4 million KRW (340,000 USD).

According to the National Tax Statistics Annual Report 2020 issued by the National Tax Service on December 29, 2020, the per capita annual salary of Korean workers in 2020 was 37.91 million won (approx. 34,400 USD), which is not far off from the average salary in 2019 of 37.44 million won (approx. 34,000 USD).

The South Korean won was initially set against the U.S. dollar at an exchange rate of 15 won to 1 USD. At that time, the Bank of Joseon minted the coins and issued the notes. After this, the currency suffered a series of devaluations, due in part to the Korean War.

South Korea travel costs can vary significantly, from budget food and accommodation options to top-end hotels and restaurants. The local currency, the South Korean won (₩) is worth around US$0.0008, which means that for each US dollar, a visitor can obtain around ₩1200.

An ideal 6 days holiday to South Korea would cost you between INR 60,000 to INR 65,000 per person. This would include staying at a 3-star property in Seoul, along with sightseeing tours, adventures, visiting beaches, and more.

If you're coming through the EPIK program, $1000 is the magic number to bring with you to South Korea. You have to get here, then you don't get paid for roughly a month after that, and you'll want as much financial backing as possible during that time you have no paycheck.

Average lunch of bibimbab or noodles: 5,000 to 6,000 won (prices same at dinner for most items except things like "hwe" which is Korean-style sashimi). Galbi dinner costs anywhere from 25,000 to 60,000 won.

Ice Cream 1,9 USD = 2 500 KRW (horn) - 7,5 USD = 10 000 KRW (400g.)

How much cash can I bring to Korea?

Foreign currency declaration upon arrival. If you bring in means of payment not exceeding USD 10,000 to Korea, you do not need any permission or declaration. In addition, there is no need to report or authorize the importation of promissory notes, letters of credit, or bills of exchange.

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.

Luckily, South Korea has started to open their borders, and welcome more and more foreigners every year. This, in turn, has made the visa application process easier than what it used to be in the past. Nowadays, the type of visa you apply for will largely depend on your reason for going to South Korea.

South Koreans are more open and tolerant toward foreigners and immigrants living in South Korea than previously believed. They are, however, defensive and protectionist toward foreign capital and culture that compete with South Korean capital and culture.

If you are worried about Korean bathrooms, there are basically two things to know. First is always carry toilet paper and secondly, hit the gym so that you can squat!

The simple answer is yes, the water is potable. Tap water in Korea is safe to drink. But, if you fill up a glass of water from the sink and start to sip it in front of most Koreans, you might get some weird looks.

Ok, with that out of the way, let's look at the reasons why things are so much more expensive here. According to Numbeo, Seoul is the most expensive city in Asia for buying groceries. It has a grocery price index of 105.73. That makes it the sixth most expensive place in the world to go supermarket shopping.

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.

While meal prices in South Korea can vary, the average cost of food in South Korea is ₩30,541 per day. Based on the spending habits of previous travelers, when dining out an average meal in South Korea should cost around ₩12,216 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

As of December 2021, the retail price of one kilogram of chicken in South Korea amounted to 5,090 South Korean won.

How much is a can of co*ke in Korea?