Korea Republic of, Seoul Cost of Living April 2010

Country Full Name: The Republic of Korea.

Location: The Republic of Korea is in Eastern Asia, in the southern half of the Korean Peninsula bordering the Sea of Japan and the Yellow Sea.

Country Climate: Temperate, with rainfall heavier in summer than winter.

Country Terrain: Mostly hills and mountains; wide coastal plains in west and south.

Major Languages: Korean.

Major Religions: Buddhism, Christianity.

Country Population: 48.5 million (2008 est.) 48.6 million (2009 est.).

Country Economy: The economy of South Korea is a developed, largely free-market economy that is the fourth largest in Asia and 15th largest in the world. An extremely competitive education system and a highly skilled and motivated workforce are two key factors driving this knowledge economy that has the world’s highest scientific literacy and second highest mathematical literacy.

Currency: South Korean Won (KRW).

Country Inflation: 4.7% (2008 est.) 2.6% (2009 est.).

City: Seoul is the capital and largest city of South Korea.

City Economy: Seoul, is a major global city and a leading international financial centre in Asia. Although Seoul accounts for only 0.6 percent of South Korea’s land area, it generates 21 percent of the country’s entire GDP.

Cost of Living: Seoul has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Seoul is currently ranked 28 overall, most expensive place in the world for expatriates to live, out of 282 international locations.

For more cost of living information on Korea Republic of, Seoul

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