Seoul

Figures are planning estimates for one person, reviewed June 2026. Run your own numbers in the cost calculator.

KEB Hana Bank, Shinhan Bank, and Woori Bank are most common for foreigners. Alien Registration Card (ARC) is required for account opening — this is issued after registering at your local immigration office. Opening process is straightforward: visit a branch with ARC, passport, and Korean phone number. Kakao Bank (digital bank linked to KakaoTalk messenger) is extremely popular with Koreans and available to ARC holders. Toss is another popular financial super-app. South Korea's digital payment infrastructure is very advanced — Samsung Pay, Kakao Pay, and Naver Pay are everywhere. International wire transfers can be slow through Korean banks — Wise offers better rates and speed.

Errors in tax filing can result in significant penalties. Progressive income tax from 6% to 45% for tax residents (domicile in Korea or 183+ days). A flat 19% rate is available for foreign workers during the first 5 years of employment in Korea (very generous compared to the standard progressive rates). National pension contributions are 9% of salary (4.5% employee, 4.5% employer). National Health Insurance is mandatory at approximately 7.09% of salary (3.545% each). Employment insurance is additional. VAT is 10%. South Korea has double taxation treaties with 90+ countries.

Full expat tax guide →

Important: Visa regulations change frequently. Always verify current requirements with the official embassy or consulate before making plans. This guide provides general information as of 2026. The D-10 visa allows job seekers to stay for 6 months. E-7 visa covers skilled workers with employer sponsorship. F-2 (Resident) visa is points-based considering income, age, Korean proficiency, and education. F-6 is for spouses of Korean nationals. K-ETA (Korea Electronic Travel Authorization) allows 90-day visa-free stays for tourism. There is no specific digital nomad visa — working remotely on a tourist entry is technically not permitted. The D-8 visa covers foreign investors. Working Holiday Visas are available for citizens of many countries (ages 18-30).

Compare visa options → · Nomad visa guide →

Understanding the healthcare system is crucial for any expat — it affects your daily peace of mind, your budget, and your visa eligibility. Here's a comprehensive guide based on real advisory experience. South Korea's National Health Insurance (국민건강보험) is mandatory and covers approximately 60-80% of medical costs. Monthly premiums are approximately 3.5% of salary. The system is highly efficient — you can see a specialist directly without a GP referral. Hospitals are modern and well-equipped. Many large hospitals in Seoul have international clinics with English-speaking staff (Samsung Medical Center, Asan Medical Center, Seoul National University Hospital). Dental care is partially covered. Prescription costs are low with insurance. South Korea is a major medical tourism destination, especially for cosmetic surgery and dental procedures. Mental health services are available but utilization is lower due to social stigma.

• World's fastest internet — 200Mbps-1Gbps standard, even on subway
• Amazing food culture — Korean BBQ, street food, fried chicken, delivery culture
• Very safe city — low crime, safe to walk anywhere at night
• Excellent public transport — clean, efficient, cheap subway system

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