North Korea is significantly cheaper than South Korea, with an overall cost of living that is roughly 70-80% lower than its southern counterpart.
Quick Facts
North Korea GDP per Capita (PPP)$1,300
South Korea GDP per Capita (PPP)$31,400
North Korea Inflation Rate55%
South Korea Inflation Rate2.5%
Overall Winner (Cheaper)North Korea
Overview: North Korea vs South Korea
The cost of living in North Korea is substantially lower than in South Korea, primarily due to the significant differences in their economic systems and standards of living. North Korea's economy is largely isolated and centralized, with a focus on state-controlled industries, whereas South Korea has a highly developed, market-based economy with a strong focus on technology, manufacturing, and international trade. As a result, the cost of goods and services in North Korea is generally much lower, although the availability and quality of these items can be limited.
The economic context of the two countries also plays a significant role in their cost of living. North Korea's economy has been subject to international sanctions and trade restrictions, which have limited its access to foreign goods and services. In contrast, South Korea has a highly globalized economy with strong trade relationships with other countries, which has driven up the cost of living. Overall, North Korea is generally 70-80% cheaper than South Korea, although the quality and availability of goods and services can vary significantly.
Rent & Housing Comparison
Item
North Korea (USD)
South Korea (USD)
Difference
1BR Apartment (City Center)
$100
$800
87.5% cheaper
1BR Apartment (Outside)
$50
$500
90% cheaper
3BR Apartment (City Center)
$200
$1,500
86.7% cheaper
Food & Dining Comparison
Item
North Korea (USD)
South Korea (USD)
Difference
Meal at Restaurant
$5
$15
66.7% cheaper
Groceries (monthly)
$50
$200
75% cheaper
Beer (500ml)
$2
$5
60% cheaper
Coffee
$1
$3
66.7% cheaper
Transport Comparison
Item
North Korea (USD)
South Korea (USD)
Difference
Monthly Transit Pass
$10
$50
80% cheaper
Taxi (per km)
$0.50
$2
75% cheaper
Fuel (per liter)
$0.50
$1.50
66.7% cheaper
Utilities & Internet Comparison
Item
North Korea (USD)
South Korea (USD)
Difference
Utilities (85 sqm apt)
$20
$100
80% cheaper
Internet (60 Mbps)
$10
$50
80% cheaper
Mobile Plan
$5
$20
75% cheaper
Monthly Budget Comparison
Budget Tier
North Korea (USD)
South Korea (USD)
Savings
Budget
$200
$1,000
80%
Mid-Range
$500
$2,500
80%
Comfortable
$1,000
$5,000
80%
Where Each Country Wins
North Korea is cheaper for:
Rent and housing
Food and dining
Transportation
Utilities and internet
South Korea is cheaper for:
Access to high-quality goods and services
International travel and connectivity
Modern amenities and infrastructure
Entertainment and leisure activities
Bottom Line
For expats, students, and retirees, North Korea may offer a unique and affordable experience, although the limited availability of goods and services can be a challenge. However, for those seeking a high standard of living, modern amenities, and access to international goods and services, South Korea is likely a better choice. Families may also find South Korea more suitable due to its well-developed education system and modern infrastructure. Ultimately, the choice between North Korea and South Korea depends on individual priorities and lifestyle preferences. While North Korea offers significant cost savings, South Korea provides a more modern and convenient living experience.