Cost of living comparison

 Seoul, South Korea
compared to
 Panama City, Panama
Panama City vs. Seoul Cost of Living Summary

Panama City is 5.1% more expensive than Seoul.

Restaurants
pay 46.1% more in Panama City
Groceries
pay 31.2% less in Panama City
Transportation
pay 4.5% more in Panama City
Housing
pay 43.8% more in Panama City
Childcare
pay 18.8% less in Panama City
Entertainment and Sports
pay 1.5% more in Panama City
Clothing
pay 9.9% less in Panama City

The cost of restaurants, housing, transportation, and entertainment and sports in Panama City are more expensive than in Seoul. Expenses including groceries, childcare, and clothing are lower in Panama City.

Panama City vs. Seoul Cost Breakdown

If you lived in Panama City instead of Seoul, you would:

pay 46.1% more for restaurants

 
Seoul
Panama City
Basic meal with drink at inexpensive restaurant $7.88
₩10,896
$13.25
PAB13.25
Fast food combo meal
McDonalds, or similar
$6.09
₩8,419
$8.00
PAB8.00
Bottle of Coca-Cola (11 fl. oz) $1.59
₩2,194
$1.86
PAB1.86

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pay 31.2% less for groceries

 
Seoul
Panama City
Bread
1 loaf
$3.10
₩4,281
$2.51
PAB2.51
Local cheese (8 oz) $6.52
₩9,023
$6.39
PAB6.39
Milk (1 gallon) $8.06
₩11,145
$6.80
PAB6.80

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pay 4.5% more for transportation

 
Seoul
Panama City
Gasoline (1 gallon) $4.59
₩6,345
$3.69
PAB3.69
Monthly public transit pass $44.40
₩61,411
$25.00
PAB25.00
New Volkswagen Golf 1.4 (standard edition) $27,023.07
₩37,372,666
$19,750.00
PAB19,750.00

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pay 43.8% more for housing

 
Seoul
Panama City
Internet connection
50 mbps or faster, cable/dsl
$22.27
₩30,805
$52.10
PAB52.10
1-Bedroom apartment in downtown area $883.18
₩1,221,429
$1,023.81
PAB1,023.81
1-Bedroom apartment outside city center $490.54
₩678,411
$755.88
PAB755.88

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pay 18.8% less for childcare

 
Seoul
Panama City
Private preschool for 1 child, monthly $385.48
₩533,116
$439.17
PAB439.17
Middle school for 1 child, two semesters $20,782.92
₩28,742,594
$10,092.67
PAB10,092.67

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pay 1.5% more for entertainment and sports

 
Seoul
Panama City
Domestic/local beer (1 pint) $3.58
₩4,953
$3.00
PAB3.00
Cappuccino in mid-range area $3.60
₩4,982
$3.59
PAB3.59
Pack of cigarettes
Marlboro or similar
$3.22
₩4,457
$5.50
PAB5.50

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pay 9.9% less for clothing

 
Seoul
Panama City
Regular jeans
Levi's brand
$59.13
₩81,773
$53.91
PAB53.91
Regular dress
from H&M or similar store
$46.64
₩64,509
$37.78
PAB37.78
Running shoes
Nike or Adidas
$86.69
₩119,896
$87.62
PAB87.62

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: June 2025
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See the cost of living in South Korea vs. Panama. This provides a comparison of the average cost of living from cities within South Korea and Panama.

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