Korea Republic of, Seoul – Cost of Living

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.

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

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.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Xpatulator.com is a website that provides international cost of living information and calculators that can help you determine cost of living indexes, cost of living allowances, salary purchasing power and international assignment packages to compensate for cost of living, hardship, and exchange rate differences.
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