Cost of Study & Living in South Korea

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One of the most important questions that come to mind if you are considering studying in South Korea is probably how much it costs to study and live there.

First of all, the cost of study in South Korea for international students depends on several factors: the type of program chosen, the level of study already acquired by the student, and the ranking of the institution.

Below, we must pass through the costs of studying and living in South Korea, according to the data from the official website of the Korean government. Then, the figures will be expressed in US dollars.

Note: 1 US dollar = 1378.01 Korean won

The cost of study in South Korea

First of all, the cost of studying at a public university is lower than the cost of studying at a private university in South Korea.

On the other hand, the cost of study differs depending on the field of study. Here is an overview of the average cost of study at South Korean universities.

Registration

  • Cost to enroll: US$50-150.
  •  Cost of Korean language courses: $1,000-$1,400 (for a 10-week
    (for a 10-week course). 800 (for a 3-week course).

Bachelor’s level

  •  Humanities and social science studies programs 600-6,800 per semester.
  •  Science studies: $460 – $7,800 per semester.
  •  Arts and Sports Studies: $1,800 – $8,400 per semester.
  •  Engineering Studies Programs: $1,900 – $8,200 per semester.
  •  Medical science study programs: $4,100 – $10,500 per semester.

Graduate level studies

  •  Programs in the humanities and social sciences: $1 100 – $12,500 per semester.
  •  Science study programs: $1,100 – $8,100 per semester.
  •  Arts and sports studies: $1,400 – $6,000 per semester.
  •  Engineering Science Studies Programs: $1,500 to $8,000 per semester.
  •  Programs of study in the medical sciences: $2200 to $10,000 per semester.

Cost of living in South Korea

Currency

  • Values of Korean coins: 10 – 50 – 100 -500 Korean Won.
  •  Values of Korean banknotes: 1 000 -5 000 – 10 000 – 50 000 Korean Won.

Accommodation

In general, students in South Korea, both local and international, live in goshiwon. These are actually off-campus dormitories. In these small studio apartments, students are maintained in furnished housing, but the facilities are shared by up to four people. But in most cases, students living in goshiwon always share the kitchen and sometimes the bathroom.

In addition, students can rent goshiwon from their university or school, from a school-approved contractor, or from private landlords.

  •  A room in the dormitory shared with 4 people: $300 to $800 per semester.
  •  A room in the dormitory is shared with two 600-$1000 per semester.

(The difference in the cost of the rooms depends on whether or not meals are
meals are included or not).

  • Housing outside the university is about $300 per month (plus a deposit of about $5,000).
  • Finally, a student hotel costs $300 to 500 per month.

Other costs

  •  Food is provided by the University in the university restaurants: about $300 per month.
  • A meal costs about $3 to $5.
  • Meals at inexpensive restaurants: $7.
  • Monthly expenses: $170 on average.
  • Health insurance: $20 per month.

In fact, you should know that the website of the National Health Insurance Organization in Korea offers health insurance for foreign students. Then, the customer service number for health insurance in English is 033-811-03.

  •  Transportation fees: $45 per month for a public transportation pass.
  •  Internet: $30 per month.
  • You will also need to take Korean language classes.
  • Korean language courses. You can choose between a three-week
    The 3-week course at $800 and a 10-week course will cost between $1,300 and $1,600.

The average cost of living in Seoul for students

The cost of living in Seoul for ex-pats in general and students, in particular, is higher than in any other city in South Korea. However, it is still affordable compared to other major cities. The average monthly cost of living in Seoul is $1,075. After Seoul, other places where students settle in the country are Busan, Daegu, Suwon, or the technology city of Daejeon.

The most important banks in Korea

First of all, any foreign student can open a bank account in Korea, regardless of whether they are a resident of South Korea or not. In addition, opening a bank account for students in Korea is usually free.

Here are the websites of the main banks:

KB Kookmin Bank

KEB Hana Bank

Woori Bank

Shinhan Bank

In conclusion, the overall costs of studying and living in South Korea can be prohibitive for some students, which can complicate the project.

 

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