Cost of living comparison
South Korea is 27.1% more expensive than Panama overall.
- Restaurants
-
pay 24.4% less in South Korea
- Groceries
-
pay 50.7% more in South Korea
- Transportation
-
pay 21.3% more in South Korea
- Housing
-
pay 21.8% less in South Korea
- Childcare
-
pay 2.4 times more in South Korea
- Entertainment and Sports
-
pay 17.6% more in South Korea
- Clothing
-
pay 9.8% more in South Korea
The cost of childcare, groceries, transportation, entertainment and sports, and clothing in South Korea are more expensive than in Panama. Expenses including restaurants and housing are lower in South Korea. Notably, childcare is significantly more expensive in South Korea.
If you lived in South Korea instead of Panama, you would:
pay 24.4% less for restaurants
|
Panama
|
South Korea
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$8.45
PAB8.45
|
$6.16
₩8,990
|
|
|
Fast food combo meal
McDonalds, or similar
|
$7.90
PAB7.90
|
$5.24
₩7,646
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.54
PAB1.54
|
$1.47
₩2,148
|
|
| Bottle of water (11 fl. oz) |
$1.17
PAB1.17
|
$0.79
₩1,156
|
|
pay 50.7% more for groceries
|
Panama
|
South Korea
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.19
PAB2.19
|
$3.08
₩4,490
|
|
| Local cheese (8 oz) |
$5.66
PAB5.66
|
$5.40
₩7,888
|
|
| Milk (1 gallon) |
$6.43
PAB6.43
|
$7.46
₩10,886
|
|
|
Eggs
1 dozen
|
$2.53
PAB2.53
|
$2.76
₩4,025
|
|
| Boneless chicken breast (1 lb) |
$3.54
PAB3.54
|
$3.32
₩4,847
|
|
| Apples (1 lb) |
$2.12
PAB2.12
|
$3.17
₩4,623
|
|
| Bananas (1 lb) |
$0.61
PAB0.61
|
$1.49
₩2,173
|
|
| Oranges (1 lb) |
$1.29
PAB1.29
|
$2.53
₩3,695
|
|
| Tomatoes (1 lb) |
$1.16
PAB1.16
|
$2.41
₩3,524
|
|
| Potatoes (1 lb) |
$0.98
PAB0.98
|
$1.82
₩2,663
|
|
| Onions (1 lb) |
$1.01
PAB1.01
|
$1.21
₩1,766
|
|
pay 21.3% more for transportation
|
Panama
|
South Korea
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$3.92
PAB3.92
|
$4.39
₩6,411
|
|
| Monthly public transit pass |
$25.00
PAB25.00
|
$45.32
₩66,139
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$18,916.67
PAB18,916.67
|
$27,023.07
₩39,440,435
|
|
| Taxi trip in downtown area (5 miles) |
$16.61
PAB16.61
|
$8.17
₩11,927
|
|
pay 21.8% less for housing
|
Panama
|
South Korea
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$47.61
PAB47.61
|
$17.65
₩25,766
|
|
| 1-Bedroom apartment in downtown area |
$747.76
PAB747.76
|
$426.93
₩623,111
|
|
| 1-Bedroom apartment outside city center |
$567.84
PAB567.84
|
$328.41
₩479,322
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$69.20
PAB69.20
|
$111.42
₩162,622
|
|
pay 2.4 times more for childcare
|
Panama
|
South Korea
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$302.08
PAB302.08
|
$373.40
₩544,982
|
|
| Middle school for 1 child, two semesters |
$6,548.17
PAB6,548.17
|
$22,907.58
₩33,433,835
|
|
pay 17.6% more for entertainment and sports
|
Panama
|
South Korea
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$1.95
PAB1.95
|
$3.09
₩4,516
|
|
| Cappuccino in mid-range area |
$3.39
PAB3.39
|
$3.39
₩4,947
|
|
|
Pack of cigarettes
Marlboro or similar
|
$5.38
PAB5.38
|
$3.21
₩4,691
|
|
| Monthly membership at local gym |
$57.20
PAB57.20
|
$45.71
₩66,716
|
|
| Movie ticket to theater/cinema |
$5.33
PAB5.33
|
$10.10
₩14,739
|
|
pay 9.8% more for clothing
|
Panama
|
South Korea
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$47.41
PAB47.41
|
$60.70
₩88,599
|
|
|
Regular dress
from H&M or similar store
|
$34.81
PAB34.81
|
$44.52
₩64,981
|
|
|
Running shoes
Nike or Adidas
|
$81.21
PAB81.21
|
$72.99
₩106,533
|
|
| Men's business shoes (leather) |
$100.42
PAB100.42
|
$93.73
₩136,800
|
|
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