Busan, South Korea
Korea's second-largest city and premier port, known for its stunning beaches, seafood markets, and the Busan International Film Festival.
Below Average vs South Korea Avg (100)
Affordable
Household income
Job market health
Busan vs South Korea Average
Taxes
- State Income Tax: 6.0%
- Sales Tax: 10.0%
Economy & Jobs
- Median Income: ₩38,000,000
- Unemployment: 3.8%
- Population: 3,453,000
Climate
- Sunny Days: 210/year
- Summer High: 84°F
- Winter Low: 28°F
- Farming Zone: USDA Zone 5b
Housing
- Median Home: ₩400,000,000
- 1BR Rent: ₩500000/mo
Cost of Living
Busan's cost of living index is 82 (South Korea average = 100).
| Category | Busan | National Average | Difference |
|---|---|---|---|
| Overall | 82 | 100 | -18.0% |
| Housing | 85 | 100 | -15.0% |
Data source: KOSIS / Numbeo, 2026
Housing Market
| Metric | Value |
|---|---|
| Median Home Price | ₩400,000,000 |
| Median Rent (1BR) | ₩500000/mo |
| Median Rent (2BR) | ₩625,000/mo |
| Price per Sq Ft | ₩266,666 |
Data source: KB Kookmin Bank / Zigbang, 2026
True Cost of Home Ownership
Utilities
Estimated monthly utility costs for a typical household in Busan:
| Utility | Estimated Monthly Cost | Notes |
|---|---|---|
| Electricity | ₩50000 | |
| Heating & Cooling | ₩630 | Estimated based on local climate. |
| Cooling (AC) | N/A | Estimated based on local climate and electricity rates |
| Water | ₩15000 | Includes sewer |
| Internet (100+ Mbps) | ₩30000 | Broadband average |
| Garbage / Trash | ₩5000 | Private service |
| Total Utilities | ₩100630 | Monthly estimate (including heating & cooling) |
Data sources: KEPCO, Korea Water Resources, SK Broadband 2025
Remote Work Score
Busan scores —/100 for remote work readiness:
Climate
Busan has a varied climate with distinct seasons.
| Month | Avg High | Avg Low | Rainfall |
|---|---|---|---|
| January | 48°F | 28°F | 2.5" |
| April | 69°F | 43°F | 2.8" |
| July | 84°F | 59°F | 1.5" |
| October | 64°F | 46°F | 2.2" |
Cool — many vegetables, some fruit trees
Natural Hazards
Busan faces the following natural hazards:
Significant typhoon risk.
Moderate seismic activity with occasional earthquakes.
Monsoon and typhoon floods.
South Korea experiences winter storms.
Based on historical records and geographic risk assessment.
Taxes
- State Income Tax: 6%
- Sales Tax: 10%
- Property Tax: ~0.3% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 3.8%.
Schools & Education
Academic Schedule
School year starts in March. Many students attend private academies (hagwons) after school.
Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.
Frequently Asked Questions
What is the cost of living in Busan, South Korea?
The cost of living index in Busan is 82, which is Lower the South Korea national average of 100.
How much does it cost to buy a home in Busan?
The median home price in Busan is ₩400,000,000. The housing index is 85.
What is the average rent for a 1-bedroom apartment?
The average rent for a 1-bedroom apartment in Busan is approximately ₩500000/mo.
Does Busan, BUS have income tax?
Busan is in BUS, which has an income tax rate of 6%.
What is the climate like in Busan?
Busan enjoys approximately 210 sunny days per year. Summer highs reach around 84°F, while winter lows can drop to around 28°F.
Data Sources
- Cost of Living: KOSIS / Numbeo, 2026
- Housing Data: KB Kookmin Bank / Zigbang, 2026
- Income & Employment: Statistics Korea (KOSTAT) Labour Force Survey, 2024
- Utilities KEPCO, Korea Water Resources, SK Broadband 2025
Data last updated: August 12, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.