Cost of Living in Vietnam vs Korea in 2024

Deciding between Vietnam and South Korea for your next adventure? While Vietnam is known as a home for nature lovers, Korea is well-known for its vibrant lifestyle and especially the “idol” phenomenon. But which one better suits your budget? We will help you to figure out the 2024 cost of living in Vietnam versus Korea in order to make a comprehensive decision.

1. Accommodation

Accommodation is a significant expense, and the gap between Vietnam and Korea is substantial. In Vietnam, a one-bedroom apartment in a central area can range from $300 to $800 per month, depending on the city and amenities. In Korea, particularly Seoul, expect to pay at least $800-$1200 for a similar apartment. Here's a breakdown:

• Vietnam: Budget-friendly options like studio apartments can be found for as low as $200 in smaller cities. Ho Chi Minh City and Hanoi have higher averages, but remain significantly cheaper than Korea.
• South Korea: Expect a premium for space and location. Even outside Seoul, finding a decent one-bedroom apartment for under $700 can be challenging.

2. Monthly Utilities

While housing differs significantly, utilities tend to be more comparable. Here's a closer look:

2.1 Electricity

• Vietnam: Electricity bills average around $50-$80 per month, depending on usage and appliance efficiency. Air conditioning use during the hot summer months can significantly increase costs. Opting for energy-efficient appliances and utilizing natural ventilation whenever possible can help keep electricity bills in check.
• South Korea: Expect similar costs in Korea, with bills ranging from $50-$100. South Korea has a more temperate climate than Vietnam, so air conditioning usage may be less frequent. However, heated floors, commonly used in Korean apartments during the winter, can contribute to higher electricity bills during colder months.

2.2 Household Furniture

Furnishing your apartment can vary depending on your needs and preferences.

• Vietnam: Second-hand furniture markets are abundant and affordable in Vietnam. You can find basic furniture sets for under $200.
• South Korea: Furnished apartments are more common in Korea, eliminating upfront furniture costs. However, unfurnished options require buying furniture, which can be expensive, especially in major cities.

3. Transportation

PubPublic transportation is excellent in both countries, but costs differ slightly:

• Vietnam: Buses, motorbikes (rental or purchase), and ride-hailing apps like Grab are very affordable. Monthly transportation costs can be as low as $30-$50, making it easy to get around without breaking the bank. Motorbikes offer a particularly budget-friendly and convenient way to navigate Vietnam's bustling cities, but be sure to factor in the cost of a helmet, registration, and licensing if you choose this option.
• South Korea: Korea boasts a highly efficient subway system, particularly in Seoul. However, fares are slightly higher, with monthly passes costing around $50-$80. Taxis are readily available but more expensive in both countries. While motorbikes are also an option in Korea, they are less common and navigating traffic in major cities can be challenging.

4. Eating

Food is a highlight in both Vietnam and Korea, and it can be surprisingly affordable, especially if you embrace local cuisine.

• Vietnam: Street food is a national treasure in Vietnam, offering delicious and cheap meals for under $5. Restaurant meals vary depending on location and cuisine, but a budget of $200-$300 per month is easily achievable.
• South Korea: Korean food is world-renowned, with street food and local restaurants offering delicious options at reasonable prices. A similar budget of $200-$300 per month is realistic in Korea, though imported ingredients can push costs higher.

5. Sports & Entertainment

Staying active and entertained is important, and here's how costs compare:

• Vietnam: Gym memberships can be found for as low as $20 per month, making it easy to maintain a fitness routine on a budget. Local parks often have free exercise equipment, and outdoor activities like hiking or swimming are readily available depending on your location. Local entertainment options like cafes, cinemas, and karaoke are also budget-friendly.
• South Korea: Gym memberships are typically more expensive in Korea, averaging $50-$80 per month. However, there are often a wider variety of gyms to choose from, catering to different fitness preferences and budgets. Entertainment options can range from affordable to high-end. Karaoke, a popular pastime in Korea, is surprisingly budget-friendly, with private rooms and food packages available at reasonable prices.

Table comparison between Vietnam and Korea

Category	Vietnam (USD)	South Korea (USD)
Accommodation	$300-$800	$800-$1200
Monthly Utilities	$50-$80	$50-$100
Transportation	$30-$50	$50-$80
Eating	$200-$300	$200-$300
Sports & Entertainment	$20-$80	$50-$80

Conclusion

Ultimately, the best choice depends on your priorities and budget. Vietnam offers a significantly lower cost of living, especially for accommodation and transportation. It's a great option for budget-conscious travelers and those who prefer a more laid-back lifestyle. However, Korea might be more appealing if you prioritize convenience, access to technology, and a dynamic urban environment. Consider your individual needs and preferences to determine which country offers the best fit for your dream adventure.

Remember: This is a general comparison. Research specific cities and factor in your individual needs for a more precise picture.

>> More comparison about the cost of living between Vietnam and other countries in here: Vietnam vs Thailand ; Vietnam vs the Philippines ; Vietnam vs South Africa ; Vietnam vs the USA

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