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
ISK2,670
|
$6.16
₩8,598
|
|
|
Fast food combo meal
McDonalds, or similar
|
$16.94
ISK2,332
|
$5.24
₩7,313
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$2.81
ISK387
|
$1.47
₩2,055
|
|
| Bottle of water (11 fl. oz) |
$2.02
ISK278
|
$0.79
₩1,105
|
|
pay 31.2% more for groceries
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.95
ISK407
|
$3.08
₩4,295
|
|
| Local cheese (8 oz) |
$7.27
ISK1,000
|
$5.40
₩7,544
|
|
| Milk (1 gallon) |
$6.01
ISK827
|
$7.46
₩10,411
|
|
|
Eggs
1 dozen
|
$5.42
ISK746
|
$2.76
₩3,849
|
|
| Boneless chicken breast (1 lb) |
$8.51
ISK1,171
|
$3.32
₩4,635
|
|
| Apples (1 lb) |
$1.22
ISK168
|
$3.17
₩4,422
|
|
| Bananas (1 lb) |
$1.03
ISK141
|
$1.49
₩2,078
|
|
| Oranges (1 lb) |
$1.17
ISK161
|
$2.53
₩3,534
|
|
| Tomatoes (1 lb) |
$1.87
ISK258
|
$2.41
₩3,370
|
|
| Potatoes (1 lb) |
$1.23
ISK170
|
$1.82
₩2,547
|
|
| Onions (1 lb) |
$0.78
ISK108
|
$1.21
₩1,689
|
|
pay 45.1% less for transportation
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$8.36
ISK1,151
|
$4.39
₩6,132
|
|
| Monthly public transit pass |
$71.28
ISK9,812
|
$45.32
₩63,258
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$40,660.66
ISK5,596,940
|
$27,023.07
₩37,722,173
|
|
| Taxi trip in downtown area (5 miles) |
$22.04
ISK3,033
|
$8.17
₩11,407
|
|
pay 34.6% less for housing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$72.17
ISK9,935
|
$17.65
₩24,644
|
|
| 1-Bedroom apartment in downtown area |
$1,838.04
ISK253,006
|
$426.93
₩595,965
|
|
| 1-Bedroom apartment outside city center |
$1,497.77
ISK206,168
|
$328.41
₩458,440
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$58.01
ISK7,986
|
$111.42
₩155,538
|
|
pay 2.6 times more for childcare
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$258.16
ISK35,536
|
$373.40
₩521,239
|
|
| Middle school for 1 child, two semesters |
$5,993.99
ISK825,073
|
$22,907.58
₩31,977,257
|
|
pay 44.3% less for entertainment and sports
|
Iceland
|
South Korea
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$9.19
ISK1,265
|
$3.09
₩4,319
|
|
| Cappuccino in mid-range area |
$4.65
ISK640
|
$3.39
₩4,731
|
|
|
Pack of cigarettes
Marlboro or similar
|
$11.76
ISK1,618
|
$3.21
₩4,486
|
|
| Monthly membership at local gym |
$61.46
ISK8,460
|
$45.71
₩63,810
|
|
| Movie ticket to theater/cinema |
$14.35
ISK1,975
|
$10.10
₩14,097
|
|
pay 42.7% less for clothing
|
Iceland
|
South Korea
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$111.23
ISK15,311
|
$60.70
₩84,739
|
|
|
Regular dress
from H&M or similar store
|
$59.69
ISK8,216
|
$44.52
₩62,150
|
|
|
Running shoes
Nike or Adidas
|
$148.00
ISK20,372
|
$72.99
₩101,892
|
|
| Men's business shoes (leather) |
$184.49
ISK25,396
|
$93.73
₩130,840
|
|
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