How Much Money Do You Need to Move to Korea?
A Realistic Breakdown from a Local
If you are thinking about moving to Korea, one of the first questions that comes up is always the same. How much money do you actually need to get started
As a Korean woman living here, I can tell you the honest answer is this. It depends on your lifestyle, visa type, and expectations. But there is a realistic minimum you should prepare for.
Let’s break it down in a practical way.
The Biggest Cost Is Housing
Housing will be your largest upfront expense in Korea. Many apartments require a security deposit, sometimes called key money. The amount varies widely depending on the city, size, and housing type.
For foreigners, common options include
- small studio apartments
- officetels
- shared housing
- short term rentals or goshiwons
If you are moving without a job contract that provides housing, you should expect to prepare a solid amount just for your first place.
Monthly Living Expenses
Once you settle in, daily life in Korea can be surprisingly affordable, especially compared to major Western cities.
Typical monthly expenses include
- rent
- utilities
- transportation
- groceries and eating out
- phone and internet
Public transportation is efficient and inexpensive, and eating out does not have to be costly if you eat like locals do.
Visa and Paperwork Costs
Your visa type matters a lot. Some visas require proof of financial stability, bank statements, or minimum savings.
You may also need money for
- visa application fees
- immigration paperwork
- health insurance enrollment
These costs are usually manageable but should not be ignored.
Initial Setup Costs Add Up
When you first arrive, you will spend more than usual. This often includes
- temporary accommodation
- furniture or basic household items
- transportation cards
- local SIM or phone plan
Many newcomers underestimate this stage and feel stressed during their first month.
Emergency and Buffer Money
This is the part many people forget.
Unexpected expenses happen. Delayed paychecks, medical visits, or sudden housing changes are not rare. Having buffer money gives you peace of mind and flexibility.
So What Is a Safe Amount to Prepare
For a comfortable and realistic move, many foreigners prepare enough funds to cover
- several months of living expenses
- housing deposit and first rent
- initial setup and emergencies
Moving with only the bare minimum is possible, but it often turns into unnecessary stress.
Final Thoughts from a Local
Moving to Korea does not require extreme wealth, but it does require planning.
If you prepare thoughtfully, understand your visa situation, and budget honestly, Korea can be a very livable and rewarding place to start a new chapter.