Estimated Monthly Living Expenses for a Man in His 20s in Busan

Estimated Monthly Living Expenses for a Man in His 20s in Busan

※ Living in Busan offers a unique charm compared to other cities in Korea. This vibrant coastal city is filled with cultural attractions, marine sports, and tourist hotspots, making it an attractive place for young people. However, maintaining financial independence and living alone in Busan requires careful planning. In this post, we'll estimate the monthly living expenses for a man in his 20s living in Busan, breaking down key categories like housing, food, transportation, and communication costs.

 

1. Housing Costs

Housing is the largest part of living expenses, and there are various options available in Busan. Many young men in their 20s choose to rent studio apartments (one-rooms), with prices varying based on location and amenities.

• Studio Rent: ₩400,000 ~ ₩800,000
  In popular areas like Haeundae, rent can be even higher.
• Jeonse (Deposit Lease) Interest: ₩200,000 ~ ₩500,000
  Some may opt for a deposit lease (jeonse), where they pay interest on a large upfront deposit.
• Utilities (Electricity, Water, Gas): ₩100,000 ~ ₩200,000
  Utility bills fluctuate based on seasons and personal usage, but this is a general estimate.

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2. Food Costs

Food expenses depend largely on eating habits. The cost can vary significantly based on how much you cook at home versus eating out.

• Groceries: ₩300,000 ~ ₩500,000
  This is the cost for buying groceries and cooking at home.
• Dining Out & Delivery: ₩200,000 ~ ₩400,000
  Enjoying Busan's diverse food scene or using food delivery services adds to your monthly expenses.

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3. Transportation Costs

Busan has a well-developed subway and bus network, making public transportation a convenient option.

• Public Transportation (Subway, Bus): ₩50,000 ~ ₩100,000
  Regular use of public transportation costs around this amount.
• Car Maintenance (If Owning a Car): ₩200,000 ~ ₩400,000
  If you own a car, you'll also need to factor in fuel, parking, and insurance costs.

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4. Communication Costs

For many 20-somethings, mobile phones and the internet are essential parts of daily life.

• Mobile Phone Plan: ₩50,000 ~ ₩100,000
  The cost varies depending on data usage.
• Internet & IPTV: ₩40,000 ~ ₩70,000
  Internet and TV subscription costs for your home.

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5. Healthcare Costs

Even though people in their 20s tend to be healthy, basic healthcare expenses should still be considered.

• Health Insurance Premium: ₩50,000 ~ ₩100,000
  This is the monthly cost of health insurance through work or personal plans.
• Medical Expenses: ₩10,000 ~ ₩50,000
  For occasional doctor visits or prescriptions.

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6. Leisure & Hobbies

Busan is known for its beautiful beaches and plenty of activities, so leisure and hobby costs are also a factor.

• Gym or Sports Activities: ₩50,000 ~ ₩150,000
  This includes gym memberships or participation in sports activities.
• Leisure Activities: ₩100,000 ~ ₩200,000
  Going out with friends, seeing movies, or attending performances.

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7. Miscellaneous Expenses

Miscellaneous expenses include clothing, household items, and unexpected costs.

• Miscellaneous Living Expenses: ₩100,000 ~ ₩200,000
  For all the extra costs that come up during daily life.

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8. Total Estimated Monthly Expenses

Taking all these categories into account, the estimated monthly living expenses for a man in his 20s living in Busan are as follows:

• Housing: ₩700,000 ~ ₩1,500,000
• Food: ₩500,000 ~ ₩900,000
• Transportation: ₩50,000 ~ ₩400,000
• Communication: ₩90,000 ~ ₩170,000
• Healthcare: ₩60,000 ~ ₩150,000
• Leisure & Hobbies: ₩150,000 ~ ₩350,000
• Miscellaneous: ₩100,000 ~ ₩200,000

Total Monthly Living Expenses: ₩1,650,000 ~ ₩3,670,000

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Conclusion

The estimated monthly living expenses for a man in his 20s living in Busan range between ₩1,650,000 and ₩3,670,000. Housing and food costs take up the largest portion, while leisure and hobbies also contribute significantly. It’s important to create a budget based on these expense categories to ensure financial independence.

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