Prices in South Korea 🇰🇷
In South Korea, gasoline costs $1.25, beer costs $1.33 and diesel costs $1.40. That is 15 of the 16 everyday items in the game, priced in US dollars, in KRW, and as roughly how long someone on the average local wage works to buy one.
South Korea has notably expensive fruit. Tariffs and quarantine rules restrict imports of many fresh products, and domestic orchard land is limited, so apples cost several times what they do in producing countries. Prepared food and transport, by contrast, are cheap for a high-income country. VAT is a flat 10% with basic unprocessed foodstuffs exempt, so tax explains almost none of the fruit premium. It is border policy and land, not the till. Korea is the strongest case in the table for reading a single item's price as a story about trade rules rather than about the general cost of living.
What things cost
| Item | USD | Local | Work time |
|---|---|---|---|
| Big Mac | $3.74 | 5,500 KRW | 16 min |
| Coca-Cola (330ml can) | $1.46 | 2,000 KRW | 6 min |
| Cappuccino | $3.64 | 5,235 KRW | 16 min |
| Milk (1 litre) | $2.02 | 2,905 KRW | 9 min |
| Eggs (dozen) | $2.85 | 4,099 KRW | 12 min |
| Apples (1 kg) | $7.84 | 11,275 KRW | 34 min |
| Gasoline (1 litre) | $1.25 | 1,798 KRW | 5 min |
| Diesel (1 litre) | $1.40 | 1,847.02 KRW | 6 min |
| Electricity (100 kWh) | $13.00 | 17,084 KRW | 56 min |
| Natural gas (100 kWh) | $7.30 | 9,568.7 KRW | 31 min |
| Cigarettes (20-pack) | $3.25 | 4,500 KRW | 14 min |
| Beer (330ml) | $1.33 | 1,848 KRW | 6 min |
| Spirits (750ml bottle) | $2.12 | 2,937.5 KRW | 9 min |
| Vape e-liquid (1 ml) | no data | ||
| Mobile data (1 GB) | $5.01 | — | 21 min |
| A day's healthy diet | $4.49 | 6,389.97 KRW | 19 min |
Most local-currency figures are printed as the source published them. The cappuccino, milk, egg, apple and petrol rows are converted from US dollars at recent exchange rates; the healthy-diet row is converted the other way. A dash means the source publishes dollars and nothing else. Work time divides the dollar price by an estimated average hourly wage, the roughest number on this page. See methodology.
How South Korea compares
Relative to the rest of the game, South Korea is most expensive for apples, where it ranks 1st out of 32 countries at $7.84, against a global median of $2.84.
It is relatively cheapest for spirits at $2.12, which is 41st of 42, only 1 countries in the game are cheaper.
Measured against local earnings rather than dollars, the item that takes the longest to afford here is electricity (100 kWh), at roughly 56 minutes of the average wage. Dollar prices and work-time prices often rank countries very differently, and that gap is usually the more interesting number.
What the state takes
Standard rate in South Korea: 10% VAT. Ordinary groceries: basic unprocessed foodstuffs exempt. Where these come from.
Play a puzzle
South Korea comes up in the daily puzzle roughly once every 49 days, paired with a different item each time. Play today's puzzle or browse the archive of past rounds.
Other countries
- Argentina
- Australia
- Bangladesh
- Brazil
- Canada
- Chile
- China
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- Costa Rica
- Czechia
- Egypt
- France
- Germany
- Ghana
- Hungary
- India
- Indonesia
- Ireland
- Israel
- Italy
- Japan
- Lebanon
- Malaysia
- Mexico
- Netherlands
- New Zealand
- Nigeria
- Norway
- Pakistan
- Peru
- Philippines
- Poland
- Portugal
- Romania
- Saudi Arabia
- Singapore
- South Africa
- Spain
- Sweden
- Switzerland
- Tanzania
- Thailand
- Turkey
- United Arab Emirates
- United Kingdom
- United States
- Uruguay
- Vietnam
Why a country's prices look the way they do
- Why poor countries are cheap, and why it is not what you thinkThe real answer has nothing to do with profits or standards. It is a sixty-year-old piece of economics about haircuts, and it explains most of the price map.
- A fifth of what you paid was tax, and you never saw the lineConsumption tax is the largest single wedge between two countries' prices for an identical product, and the one shoppers are least able to see.
- The salary comparison you keep seeing online is wrongConverting a wage at the market exchange rate answers a question nobody asked. Purchasing power parity answers the one you meant, and has its own traps.
- How to compare two countries without fooling yourselfCost-of-living comparisons go wrong in the same six ways every time. What follows is a method that survives contact with a real decision.