While South Korea has emerged as the top education destination for international students, it has become essential to understand its living expenses. Himang International has shortlisted the cost of living and studying in South Korea to help the students in managing their finances. Remember, by understanding the living cost and tuition expense, you will be able to effectively distinguish your finances and avoid the financial obligations. In this blog, you will get to know the cost of living and Studying in South Korea. Also, we will provide you some budgeting tips which will help you to feel comfortable in South Korea.
Here is Some Cost of Living and Studying in South Korea
Tuition fees
- In the public universities, the cost of an undergraduate program is 1.25- 3.15 lakh per semester in Indian rupees (KRW 2,000,000 – 5,000,000).
- The postgraduate program is for 1.57-3.78 lakh per semester in Indian rupees (KRW 2,500,000 – 6,000,000 per semester).
- In relation to the private universities, you will need to avail 1.89-4.41 lakh per semester of the undergraduate program in Indian rupees (KRW 3,000,000 – 7,000,000).
- Apart from that, the remuneration of the postgraduate program of the private universities includes 2.52-5.67 lakh in the Indian rupees per semester (KRW 4,000,000 – 9,000,000).
Cost of accommodation
- The cost of university dormitory includes 12,500-50,000 in Indian rupees, and the rent of the small rooms includes 18,900-37,800 in Indian rupees.
- Secondly, the cost of a room apartment includes 31,500- 63,000 per month in Indian rupees.
- If you are going for the shared apartment, then you will need to avail 25,200- 50,400 per month in Indian rupees.
Expenses related to food
- The food cost in South Korea can be expensive for the international students, where the cost of the University cafeteria includes 190-440 per day in Indian rupees.
- The cost of a local food restaurant includes 380-750 per meal in Indian rupees, and the cost of the fast food includes 315-565 per meal in Indian rupees.
- Apart from that, the cost of monthly groceries might include 12,500-25,000 per month in Indian rupees.
Transportation cost
- The Subway fare of South Korea includes 1,250 – 1,500 KRW, the one-way bus cost is for 1,200 – 1,500 KRW and the taxi fees start from 3,800 KRW.
- You may get a T-Money card for getting relevant discounts in the busway and the subway.
Other living costs
- The cost of mobile and Internet in South Korea includes 30,000 – 60,000 KRW per month, the cost of health insurance for 100,000 KRW per semester, the entertainment and shopping cost is for 100,000-200,000 KRW per month and the utilities such as, gas, water and electricity cost includes 80,000-150,000 KRW per month.
Part-time jobs are available for the students in South Korea
- In South Korea, the students have the permission to work up to 20 hours per week during their semesters.
- In that case, the international students can get a job in the convenient store with an hourly wage of 9,860-12,000 KRW.
- In the restaurants, the students can get an hourly wage of 10,000-15,000 KRW and the remuneration for English tutoring includes 15,000-30,000 KRW hourly.
Budgeting tips for the international students in South Korea
- In order to manage the expenses in South Korea, you can choose a shared apartment or university dormitory.
- Secondly, you can utilise public transport and enroll for a T-Money card.
- Additionally, it is recommended to cook at home and apply for the scholarship to reduce your financial burden.
- You can use the budgeting apps, including Money Manager, to track your expenses and focus on buying the second-hand items for a great discount.
These are the common cost of living and studying in South Korea. You can manage the expenses by choosing the affordable housing option, cooking your meals at home and utilising the public transport. Himang International provides comprehensive budgeting tips for international students and supports them in getting their scholarships and managing the overall expenses. If you have any confusion about the expenses and the budget planning, feel free to reach out to us. Remember, by considering the right options you will be able to get a worthwhile experience in South Korea.