Cost of living comparison
South Korea is 7.8% cheaper than Iceland.
If you lived in South Korea instead of Iceland, you would:
pay 61.1% less for restaurants
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$19.51
ISK2,682
|
$6.44
₩8,896
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.45
ISK2,261
|
$5.49
₩7,573
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.70
ISK372
|
$1.39
₩1,918
|
|
| Bottle of water (11 fl. oz) |
$1.95
ISK269
|
$0.74
₩1,017
|
|
pay 29.3% more for groceries
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$3.16
ISK434
|
$2.87
₩3,960
|
|
| Local cheese (8 oz) |
$6.72
ISK923
|
$6.02
₩8,308
|
|
| Milk (1 gallon) |
$6.27
ISK862
|
$7.79
₩10,756
|
|
|
Eggs
1 dozen
|
$6.03
ISK829
|
$3.21
₩4,434
|
|
| Boneless chicken breast (1 lb) |
$7.60
ISK1,045
|
$2.83
₩3,907
|
|
| Apples (1 lb) |
$1.13
ISK155
|
$2.76
₩3,814
|
|
| Bananas (1 lb) |
$1.01
ISK139
|
$1.39
₩1,918
|
|
| Oranges (1 lb) |
$1.15
ISK159
|
$2.49
₩3,436
|
|
| Tomatoes (1 lb) |
$1.71
ISK235
|
$2.03
₩2,802
|
|
| Potatoes (1 lb) |
$1.13
ISK155
|
$1.69
₩2,332
|
|
| Onions (1 lb) |
$0.68
ISK94
|
$1.10
₩1,517
|
|
pay 41.8% less for transportation
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.42
ISK1,157
|
$4.58
₩6,316
|
|
| Monthly public transit pass |
$68.29
ISK9,387
|
$48.21
₩66,552
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$39,714.69
ISK5,458,784
|
$27,876.80
₩38,479,467
|
|
| Taxi trip in downtown area (5 miles) |
$23.23
ISK3,193
|
$8.80
₩12,146
|
|
pay 31.5% less for housing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$74.47
ISK10,236
|
$20.28
₩27,988
|
|
| 1-Bedroom apartment in downtown area |
$1,518.94
ISK208,778
|
$421.68
₩582,060
|
|
| 1-Bedroom apartment outside city center |
$1,325.48
ISK182,187
|
$330.55
₩456,278
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$66.99
ISK9,208
|
$129.93
₩179,343
|
|
pay 2.3 times more for childcare
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$254.97
ISK35,045
|
$386.50
₩533,503
|
|
| Middle school for 1 child, two semesters |
$5,993.83
ISK823,851
|
$18,893.14
₩26,078,956
|
|
pay 42.4% less for entertainment and sports
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.37
ISK1,288
|
$2.93
₩4,038
|
|
| Cappuccino in mid-range area |
$4.61
ISK634
|
$3.45
₩4,765
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.22
ISK1,542
|
$3.33
₩4,601
|
|
| Monthly membership at local gym |
$60.00
ISK8,247
|
$48.95
₩67,568
|
|
| Movie ticket to theater/cinema |
$13.94
ISK1,916
|
$9.82
₩13,561
|
|
pay 40.5% less for clothing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$108.23
ISK14,877
|
$62.63
₩86,457
|
|
|
Regular dress
from H&M or similar store
|
$59.73
ISK8,210
|
$43.35
₩59,833
|
|
|
Running shoes
Nike or Adidas
|
$146.94
ISK20,197
|
$72.22
₩99,687
|
|
| Men's business shoes (leather) |
$169.24
ISK23,262
|
$98.82
₩136,399
|
|
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