South Korea has K-pop Vibes, delicious food options, high-quality education and amazing campus life that has made it the first choice for Indian students but it is important to know the Hidden Costs of Studying in Korea. Also, the Korean Government and the universities provide multiple scholarships to Indian students so that they can get a study experience without any financial burden.

Apart from the tuition fees and living expenses, there are different hidden costs present that can increase the financial burden on international students. Himang International believe that if you get to know the hidden expenses, it will help you to plan your budget smartly and reduce all the financial stress. In this blog, we will mention the hidden costs of starting in Korea and how you can plan your budget wisely.

Hidden Costs of Studying in Korea

Visa and Alien Registration fees

• Once you arrive in South Korea, you will need an alien registration card, which will work as an official identity proof in South Korea.
• In that case, visa application fees can be approximately 60-90 US dollars.
• Apart from that, ARC issuance fees can be included, which are approximately 30,000 KRW.
• It is recommended to apply for the alien registration card just after arriving in South Korea to avoid legal penalties.

Korean Language Courses

• Even if you have proof of English language proficiency, you will need to have Korean language proficiency for surviving in South Korea.
• In that case, multiple students enrolls in the Korean language courses outside of their University can include 1,200,000–2,000,000 KRW per semester.
• If you want to attend Korean language classes, you can budget separately for your language course or look for free language classes.

Transportation costs

• In relation to the transportation system of South Korea, you will be able to discover a vibrant and clean system.
• In that case, the Subway and bus fare includes 1250 KRW per ride, and your monthly transportation can increase by 3000 to 4,200 in Indian rupees.
• If you want to save money on your transportation, you might get a T-Money card as it provides multiple discounts for students.

Groceries and eating out

• Korean street food is comparatively cheaper than the meals sold by the restaurants and cafes.
• If you are having one meal at a cheap restaurant, then it can cost 350 to 500 rupees per meal.
• On the other hand, the monthly grocery can include 150,000-250,000 KRW,  depending on your expenses.
• Indian groceries are very expensive in South Korea, but some of the organisations provides multiple discounts for the Indian people.
• It is recommended to bring home-cooked meals as it is very healthy and can reduce your expenses.

Medical costs and health insurance

• An international student needs to enrol in the Korean National Health insurance, which might include 3500 to 4500 rupees as a fee.
• It is recommended to save money for health emergencies and carry the required medicines from India.

 Personal expenses as a part of the Hidden Costs of Studying in Korea

• In relation to your personal expenses, the phone bill can include 30000 to 60000 KRW per month.
• Also, you need to consider the expenses for toiletries, laundry and clothing as a part of the Hidden Costs of Studying in Korea.
• It is recommended to buy a Korean SIM card as it can give you different discounts and shop deals.

How do you plan your budget smartly in South Korea

• If you want to manage the Hidden Costs of studying in Korea, you need to plan your budget wisely, and it is recommended to divide your expected costs.
• Depending on the estimated budget, it will be possible for you to save money, also you can also use student discounts everywhere.
• Remember, if you want to avail student discount, you need to carry your student ID card. Also, after reaching South Korea, you can find an after-hours job.
• You can use applications like Toss, Money Manager and Wallet to track your spending and help you to handle the Hidden Costs of Studying in Korea.
• Once you start to track your spending, you can plan for the seasonal expenses such as heating bills, winter clothes and travel costs.

South Korea works as a life-changing experience that can change the entire living standard of international students. In that case, it is extremely required to plan the budget wisely so that it is possible to manage the Hidden Costs of Studying in Korea. If you want to plan your budget wisely, you need to have an awareness of the hidden costs. Himang International is always dedicated to providing the students with comprehensive guidance on how they can evaluate the Korean environment. You will just need to focus on your financial condition and plan all your expenses wisely to get a memorable and life-changing experience in South Korea.