After living here for a month now, I have now received my first paycheck. Along with this, I also got my bills for the month. To give an idea what the cost of living is here (and to further explain why so many foreigners teach ESL here) here are my monthly costs in Korean won:
Gas = 4,700 KRW
Electric = 8,930 KRW
Garbage = 27,000 KRW
Pension = 67,500 KRW (which I will get back once contract is completed)
Health insurance = 45,070 KRW (the country has a public plan)
Cell phone = 13,220 KRW (with a phone given to me by the school)
Internet = 9,900 KRW
I know you're asking "But what is the conversion rate of KRW to USD?" This is probably the easiest currency to convert. Wherever you see a coma just replace it with a decimal point and that's the cost in USD. So, my electric for the month was $8.93.
What about rent? Well, the school pays for that.
Niiice! I guess the question now is, what is the average take-home income?
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