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:

Display currency: USD

pay 46.1% more for restaurants

	Seoul	Panama City
Basic meal with drink at inexpensive restaurant	$7.88 ₩10,896	$13.25 PAB13.25	+68.2%
Fast food combo meal McDonalds, or similar	$6.09 ₩8,419	$8.00 PAB8.00	+31.4%
Bottle of Coca-Cola (11 fl. oz)	$1.59 ₩2,194	$1.86 PAB1.86	+17.1%
Bottle of water (11 fl. oz)	$0.84 ₩1,163	$1.41 PAB1.41	+67.8%
Average			+46.1%

Seoul vs. Panama City - Cost of restaurants

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pay 31.2% less for groceries

	Seoul	Panama City
Bread 1 loaf	$3.10 ₩4,281	$2.51 PAB2.51	-19.0%
Local cheese (8 oz)	$6.52 ₩9,023	$6.39 PAB6.39	-2.1%
Milk (1 gallon)	$8.06 ₩11,145	$6.80 PAB6.80	-15.6%
Eggs 1 dozen	$3.06 ₩4,230	$2.68 PAB2.68	-12.5%
Boneless chicken breast (1 lb)	$4.74 ₩6,550	$3.41 PAB3.41	-28.1%
Apples (1 lb)	$3.30 ₩4,561	$1.48 PAB1.48	-55.1%
Bananas (1 lb)	$1.55 ₩2,143	$0.72 PAB0.72	-53.3%
Oranges (1 lb)	$2.44 ₩3,376	$1.24 PAB1.24	-49.2%
Tomatoes (1 lb)	$2.68 ₩3,713	$1.40 PAB1.40	-48.0%
Potatoes (1 lb)	$1.73 ₩2,393	$0.98 PAB0.98	-43.2%
Onions (1 lb)	$1.39 ₩1,918	$1.15 PAB1.15	-17.4%
Average			-31.2%

Seoul vs. Panama City - Cost of groceries

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pay 4.5% more for transportation

	Seoul	Panama City
Gasoline (1 gallon)	$4.59 ₩6,345	$3.69 PAB3.69	-19.6%
Monthly public transit pass	$44.40 ₩61,411	$25.00 PAB25.00	-43.7%
New Volkswagen Golf 1.4 (standard edition)	$27,023.07 ₩37,372,666	$19,750.00 PAB19,750.00	-26.9%
Taxi trip in downtown area (5 miles)	$8.02 ₩11,094	$16.71 PAB16.71	+108.3%
Average			+4.5%

Seoul vs. Panama City - Cost of transportation

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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	+133.9%
1-Bedroom apartment in downtown area	$883.18 ₩1,221,429	$1,023.81 PAB1,023.81	+15.9%
1-Bedroom apartment outside city center	$490.54 ₩678,411	$755.88 PAB755.88	+54.1%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$133.35 ₩184,426	$94.84 PAB94.84	-28.9%
Average			+43.8%

Seoul vs. Panama City - Cost of housing

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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	+13.9%
Middle school for 1 child, two semesters	$20,782.92 ₩28,742,594	$10,092.67 PAB10,092.67	-51.4%
Average			-18.8%

Seoul vs. Panama City - Cost of childcare

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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	-16.2%
Cappuccino in mid-range area	$3.60 ₩4,982	$3.59 PAB3.59	-0.3%
Pack of cigarettes Marlboro or similar	$3.22 ₩4,457	$5.50 PAB5.50	+70.7%
Monthly membership at local gym	$53.73 ₩74,307	$47.27 PAB47.27	-12.0%
Movie ticket to theater/cinema	$10.74 ₩14,858	$7.00 PAB7.00	-34.8%
Average			+1.5%

Seoul vs. Panama City - Cost of entertainment and sports

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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	-8.8%
Regular dress from H&M or similar store	$46.64 ₩64,509	$37.78 PAB37.78	-19.0%
Running shoes Nike or Adidas	$86.69 ₩119,896	$87.62 PAB87.62	+1.1%
Men's business shoes (leather)	$124.89 ₩172,723	$108.75 PAB108.75	-12.9%
Average			-9.9%

Seoul vs. Panama City - Cost of clothing

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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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