Cost of Living

South Korea’s minimum hourly wage will rise to ₩10,320 ($7.80 USD) in 2026, a 2.9% increase. The minimum monthly wage will be ₩2,156,880 ($1,630 USD). Despite this, high living costs, especially for food items like watermelons (averaging $25 USD) and napa cabbage (up 68% monthly), significantly impact purchasing power. Many low-income Seoul residents struggle to save, and the middle class faces similar challenges compared to some Chinese workers. This illustrates the tension between wage growth and rising expenses.