Cost of living in the Democratic Republic of Korea, prices and what it is like to live for an Expat, quality of life / hardship, and compare cost of living for Expatriates as at October 2023.

What is it like to live in the Democratic Republic of Korea?

Climate: The climate is temperate with rainfall concentrated in summer.

Language: The official language is Korean. North and South Korea share the same language but there are differences in dialect.

Religion: atheist or non-religious and traditional beliefs.

Economy: The economy of North Korea is an industrialised, highly centralized command economy. The role of market allocation is sharply limited - mainly in the rural sector where peasants sell produce from small private plots. There are almost no small businesses.

Inflation: 15% for North Korea as at July 2021.

Money: The currency of North Korea is the North Korean Won (KPW). Credit cards and travellers’ cheques are not accepted. Some hotels may insist on full payment in advance when checking in.

Tax: In Democratic Republic of Korea is based on the current personal income tax rate of 0% as there is currently no personal income tax.

Population: 25.4 Million (2022 est.)

Expat Life: In North Korea there are strict rules regulating the conduct of foreigners/expatriates as well as locals. North Korean society is hierarchical, placing most importance on seniority. Senior hosts will be introduced first. Expatriate dress code is conservative, comprising suits. Businesswomen are expected to dress conservatively. The safety risk for expatriates in North Korea is medium to high. Risks include inadequate travel permission and documentation, information safety, enforced travel changes, and arbitrary interrogation or detention.

Health Care: Health care facilities in North Korea are poor and limited.

the Democratic Republic of Korea covers all areas within the country other than Pyongyang.

Cost Of Living

What is the cost of living in Democratic Republic of Korea?

The cost of living for expatriates in Democratic Republic of Korea as at October 2023 is average in comparison to other places in the world, with an overall Cost of Living Index (COLI), for all 13 basket groups, of 72.21 (New York =100). We have collected prices for the same items, world wide, based on Expat spending norms, in or closest to the location, and converted them to $USD so that we can compare the cost of 13 different baskets in 780 global locations. For each basket, compared to New York, the equivalent cost in Democratic Republic of Korea is as follows:

1) Alcohol and/or Tobacco: Cost is very high for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1,000 in New York costs USD$1050.

2) Clothing: Cost is low for items such as business, casual and children's clothing and footwear. A basket costing USD$1,000 in New York costs USD$550.

3) Communication: Cost is average for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$190.

4) Education: Cost is very high for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30,000 in New York costs USD$31500.

5) Furniture & Appliances: Cost is high for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2,500 in New York costs USD$2400.

6) Groceries: Cost is high for items such as consumables, cleaning products, dairy, fresh fruit & vegetables, general food products, snacks, soft drinks. A basket costing USD$1,000 in New York costs USD$870.

7) Healthcare: Cost is average for general heath care, doctor visits, hospital stays, non-prescription medicine, and medical insurance. A basket costing USD$1,000 in New York costs USD$620.

8) Household Accommodation: Cost is very low for items such as apartment rent, house rent, property purchase, mortgage rate, and utilities. A basket costing USD$5,000 in New York costs USD$950.

9) Miscellaneous: Cost is very high for items such as dry cleaning, linen, magazines, newspapers, office supplies, and postage stamps. A basket costing USD$500 in New York costs USD$850.

10) Personal Care: Cost is high for items such as cosmetics, hair care, and toiletries. A basket costing USD$500 in New York costs USD$415.

11) Recreation & Culture: Cost is very high for items such as books, cinema, sport and theatre tickets. A basket costing USD$500 in New York costs USD$595.

12) Restaurants Meals Out and Hotels: Cost is average for items such as hotel daily room rates, meals and beverages in a restaurant, and take away food and beverages. A basket costing USD$1,000 in New York costs USD$530.

13) Transport: Cost is high for items such as fuel (petrol/gasoline), car hire, public transport, vehicle purchase and maintenance. A basket costing USD$1,000 in New York costs USD$990.

How does the cost of living in Democratic Republic of Korea compare?

Democratic Republic of Korea is 9.6% more expensive than USA for groceries, -68.2% cheaper for household costs than UK, and 95.7% more expensive for transport costs than India.

What is the quality of life / hardship in Democratic Republic of Korea?

Democratic Republic of Korea is ranked as an extreme hardship location.The hardship premium for Democratic Republic of Korea for an expat from Australia, is for example 30%, i.e. host location (the Democratic Republic of Korea) premium of 40% minus home (Australia) location premium of 10%.

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