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Q&A about Korea
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What’s the cost of living like in South Korea?
Feb
12
2011
How much of my salary can I expect to save?
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Answer #2
I lived in an area of Korea with little to no unemployment and all those who worked had high paying jobs, therefore the cost of things were more expensive than seoul or Busan where there is a bigger selection and more competiton.
I was able to save over $20,000 in one year. This was in my 2nd contract, after I had already lived in Korea for 18months and returned home for 18 months before coming back.
I knew where to shop, what to buy, what not to buy, where to visit etc etc as I had been there before and done it all. You should be able to save $15,000 out of an average 2.2million won salary, including your end of year bonus (add on another $2grand if you get your pension refunded, I didn’t get mine back as Irish people don’t)
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Answer #1
The pay varies with the school you teach at, but to be honest, if it’s full-time, the pay isn’t that different at each. To give you an idea of how much I was able to save: I sent home nearly $1000 every month, with an average salary. You work long hours, and you make good money. You take on more classes/hours, you will make more money. Living in Korea is actually pretty cheap, so you can definitely put away a lot and not even think about it.