Currency Exchange
There are several ways to exchange currency before and after leaving your home country. The cost and benefits for each will depend on your personal circumstance.
The most obvious is exchanging your national currency for South Korean Won at a local bank in your home country. Most likely, you can also do this at the airport before you leave. Different banks and airports will have different fees for exchanging the currency, so please check on your own.
While in Korea, you can also trade currency at the airport for a low fee. There are also many global ATMs (including several on campus) that will allow you to take out money from your bank account in your home country, usually with a transaction fee of 3,000 - 4,000 KRW. In addition, many ATMs (global or domestic) allow you to deposit money into your Korean bank account directly from the ATM.
Cost of Living
We provide the estimated living cost per month for 2022, so that you can plan your budget and expect total costs of your academic years. Please ensure that your living costs may vary depending on your lifestyle, and you may wish to have sufficient funds for the holidays or unexpected expenses.
| Housing | 128,500 - 255,500 KRW (On-campus/undergraduate) 221,500 - 312,100 KRW (On-campus/graduate) 400,000 - 800,000 KRW (Off-campus/deposit excluded) |
| Local Transportation | 50,000 - 80,000 KRW |
| Meals | 400,000 KRW |
| Books/School Supplies | 150,000 KRW/ per semester |
| Telecommunication | 30,000 - 100,000 KRW |
| Personal Expenses | 300,000 KRW |
Currency Exchange
There are several ways to exchange currency before and after leaving your home country. The cost and benefits for each will depend on your personal circumstance.
The most obvious is exchanging your national currency for South Korean won at a local bank in your home country. Most likely, you can also do this at the airport before you leave. Different banks and airports will have different fees for exchanging the currency, so please check on your own.
While in Korea, you can also trade currency at the airport for a low fee. There are also many global ATMs (including several on campus!) that will allow you to take out money from your bank account in your home country, usually with a transaction fee of ₩3,000-4,000. In addition, many ATMs (global or otherwise) allow you to deposit money into your Korean bank account directly from the ATM. For reference, the price of an inexpensive meal at a restaurant rages between ₩5,000-8,000, while a three-course meal for two in a mid-range restaurant will cost around ₩25,000-45,000. A co/banks-atms-post-officembo meal in McDonald’s or similar fast food restaurants costs ₩5,500-7,000.