Ok... all prices in Korean Won and "k" for thousands eg 100,000 is 100k. In Jeju.
Housing. Zero rent as employer provides this, normal in Korea and it is a real hassle to get own accommodation, especially if new. Also this is tax free if provided! I pay 180k towards apartment management fee (usual you pay this and most accommodation is in apartments) and gas an electricity over a year average out at 150k - my heater is set to 28 degrees though!
Public transport I walk to work. I have a car. I used to lease at 420k a month but bought a car and insurance 80k a month, and servicing etc another 20k a month. A must in Jeju longterm. Public transport is cheap though, so are taxis. Cars are ok priced, no large taxes as in other SE Asian countries.
Healthcare basically zero. I have Tiecare private insurance paid for by my employer, a perk every expat should demand. I copay 10% upto a 1,000 USD a year, but all medicine costs are rebated so on average I have paid 10k a month (won) and that includes two major stays in hospital, one week each -Â once for wife and once for me. Covers a lot more than the local NHIS.
Groceries and especially fruit are very expensive. All in 700k a month (for 2 people) and we cook at home mostly. About another 300k for eating out, cafe etc.
All in I set aside 2 million won a month for expenses, car, eating out, clothes, new electronics etc - I use a seperate account to budget. We don't drink, but before marriage (not Korean) I did a little - beer and soju are cheap. The beer is American (basically fizzy coloured water) and Soju is way better.
We spend 1 million a month on holidays, the rest of my salary we save/invest for long term.
GNI per capita is 42.5 million a month and my personal rule is don't work anywhere developed for less than 2xGNI, also a Korean rule for many longer term visas, and I strongly suggest this is the absolute minimum salary for an expat. I earn just over 3xGNI, which is ok.
School fees. I get free school places, this again is a basic demand from any employer, as International School fees are about 3-4 million a month. You can legally use local state schools but that would destroy your children's future, ans they would need to be fluent in Korean.
Summary.
- always ensure you get accommodation provided as tax free
- always insist on extra private insurance
- always demand free school places
- you will need 2 million minimum for basic daily expenses
- don't work for less than 2xGNI (85 million as of 2023). Expats generally earn 100-300 million a month though.
Note this excludes the TEFL crowd, who earn 25 million and get free accommodation. Great idea, if 21 and want a cultural experience before starting a real career. Not a long term option!