Korea Republic of, Seoul

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.

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).

Inflation: 3.9% (2011 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.

The cost of living in Seoul in the Republic of Korea is very high compared to other places. The overall cost of living is determined using the prices for defined quantities of the same goods and services across 13 Basket Groups. Seoul in the Republic of Korea is currently ranked 50 overall out of 950 places (rank 1 is most expensive: rank 950 is least expensive). The cost of living rank for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs are very high compared to other places for items such as alcoholic beverages, alcohol at a bar, beer, locally produced spirit, whiskey, and wine (where alcohol is legally sold) as well as for tobacco products such as cigarettes. There are 16 places that are more expensive, and 933 places that are less expensive for alcohol and or tobacco.

Clothing costs are high compared to other places for items such as clothing and footwear products, business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear. There are 204 places that are more expensive, and 745 places that are less expensive for clothing.

Communication costs are low compared to other places for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract, data, and calls. There are 572 places that are more expensive, and 377 places that are less expensive for communication.

Education costs are low compared to other places for items such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees. There are 748 places that are more expensive, and 201 places that are less expensive for education.

Furniture & Appliance costs are high compared to other places for items such as furniture, household equipment and appliances, DVD player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine. There are 218 places that are more expensive, and 731 places that are less expensive for furniture and appliances.

Grocery costs are very high compared to other places for items such as food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs . There are 11 places that are more expensive, and 938 places that are less expensive for groceries.

Healthcare costs are very high compared to other places for general healthcare, medical and medical insurance, general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions. There are 64 places that are more expensive, and 885 places that are less expensive for healthcare.

Household Accommodation costs are very high compared to other places for items such as housing, water, electricity, household gas, household fuels, local rates and residential taxes, mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies. There are 17 places that are more expensive, and 932 places that are less expensive for household accommodation.

Miscellaneous costs are high compared to other places for items such as stationery, linen, general goods and services, domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps. There are 291 places that are more expensive, and 658 places that are less expensive for miscellaneous items.

Personal Care costs are very low compared to other places for items such as personal care products and services, cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner. There are 891 places that are more expensive, and 58 places that are less expensive for personal care.

Recreation and Culture costs are average compared to other places for items such as books, camera film, cinema tickets, DVDs and CDs, sports goods, and theatre tickets. There are 534 places that are more expensive, and 415 places that are less expensive for recreation and culture.

Restaurants, Meals Out and Hotel costs are very high compared to other places for items such as a business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food). There are 32 places that are more expensive, and 917 places that are less expensive for restaurants, meals out and hotels.

Transport costs are very low compared to other places for items such as public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance, hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase. There are 837 places that are more expensive, and 112 places that are less expensive for transport.

Personalized cost of living indexes for Seoul in the Republic of Korea are based on the basket groups and comparison location(s) selected in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, Seoul in the Republic of Korea is ranked as high degree of hardship with a hardship index of 30%.

Personalized hardship index premiums for Seoul in the Republic of Korea are based on the comparison location(s) selected in the Calculators.

Note: Xpatulator.com data is updated quarterly. The latest update is at at 1 January 2012. Create a personalized cost of living comparison report using the calculators:
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