Cost of living comparison
South Korea is 4.8% cheaper than Iceland.
If you lived in South Korea instead of Iceland, you would:
pay 61.4% less for restaurants
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.40
ISK2,699
|
$6.16
₩8,909
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.94
ISK2,357
|
$5.24
₩7,578
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.81
ISK391
|
$1.47
₩2,129
|
|
| Bottle of water (11 fl. oz) |
$2.02
ISK281
|
$0.79
₩1,145
|
|
pay 31.2% more for groceries
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.95
ISK411
|
$3.08
₩4,450
|
|
| Local cheese (8 oz) |
$7.27
ISK1,011
|
$5.40
₩7,817
|
|
| Milk (1 gallon) |
$6.01
ISK836
|
$7.46
₩10,788
|
|
|
Eggs
1 dozen
|
$5.42
ISK754
|
$2.76
₩3,988
|
|
| Boneless chicken breast (1 lb) |
$8.51
ISK1,184
|
$3.32
₩4,803
|
|
| Apples (1 lb) |
$1.22
ISK170
|
$3.17
₩4,582
|
|
| Bananas (1 lb) |
$1.03
ISK143
|
$1.49
₩2,153
|
|
| Oranges (1 lb) |
$1.17
ISK163
|
$2.53
₩3,662
|
|
| Tomatoes (1 lb) |
$1.87
ISK261
|
$2.41
₩3,492
|
|
| Potatoes (1 lb) |
$1.23
ISK172
|
$1.82
₩2,640
|
|
| Onions (1 lb) |
$0.78
ISK109
|
$1.21
₩1,750
|
|
pay 45.1% less for transportation
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.36
ISK1,163
|
$4.39
₩6,353
|
|
| Monthly public transit pass |
$71.28
ISK9,917
|
$45.32
₩65,546
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$40,660.66
ISK5,657,118
|
$27,023.07
₩39,086,703
|
|
| Taxi trip in downtown area (5 miles) |
$22.04
ISK3,066
|
$8.17
₩11,820
|
|
pay 34.6% less for housing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$72.17
ISK10,042
|
$17.65
₩25,535
|
|
| 1-Bedroom apartment in downtown area |
$1,838.04
ISK255,726
|
$426.93
₩617,523
|
|
| 1-Bedroom apartment outside city center |
$1,497.77
ISK208,385
|
$328.41
₩475,023
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$58.01
ISK8,072
|
$111.42
₩161,164
|
|
pay 2.6 times more for childcare
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$258.16
ISK35,918
|
$373.40
₩540,094
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK833,944
|
$22,907.58
₩33,133,975
|
|
pay 44.3% less for entertainment and sports
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.19
ISK1,278
|
$3.09
₩4,475
|
|
| Cappuccino in mid-range area |
$4.65
ISK647
|
$3.39
₩4,902
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.76
ISK1,636
|
$3.21
₩4,649
|
|
| Monthly membership at local gym |
$61.46
ISK8,551
|
$45.71
₩66,118
|
|
| Movie ticket to theater/cinema |
$14.35
ISK1,996
|
$10.10
₩14,607
|
|
pay 42.7% less for clothing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$111.23
ISK15,476
|
$60.70
₩87,804
|
|
|
Regular dress
from H&M or similar store
|
$59.69
ISK8,305
|
$44.52
₩64,398
|
|
|
Running shoes
Nike or Adidas
|
$148.00
ISK20,591
|
$72.99
₩105,578
|
|
| Men's business shoes (leather) |
$184.49
ISK25,669
|
$93.73
₩135,573
|
|
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