BUSAN OVERVIEW
Comprehensive cost-of-living benchmarks and progressive income tax schedule for Busan, South Korea.
Living Expense Benchmarks (Average USD)
Average Rent / Housing
$750.00 / month
Food & Groceries
$320.00 / month
Utilities & Electricity
$100.00 / month
Transportation & Transit
$65.00 / month
Cost of Living Index
46.50 / 100
Progressive Income Tax Slabs
| Income Slab | Tax Rate | Fixed Tax |
|---|---|---|
| ₩ 0 - ₩ 14,000,000 | 6.00% | ₩ 0 |
| ₩ 14,000,001 - ₩ 50,000,000 | 15.00% | ₩ 840,000 |
| ₩ 50,000,001 - ₩ 88,000,000 | 24.00% | ₩ 6,240,000 |
| ₩ 88,000,001 - ₩ 150,000,000 | 35.00% | ₩ 15,360,000 |
| ₩ 150,000,001 - ₩ 300,000,000 | 38.00% | ₩ 37,060,000 |
| ₩ 300,000,001 + | 40.00% | ₩ 94,060,000 |
TOP BANKS IN SOUTH KOREA
Leading commercial and Islamic banking institutions offering the highest savings profit returns in South Korea.
-
COMMERCIAL3.65% PER ANNUM
Hana Bank
Hana One Q Savings
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COMMERCIAL3.60% PER ANNUM
KB Kookmin Bank
KB Star High Yield Savings
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COMMERCIAL3.55% PER ANNUM
Shinhan Bank
Shinhan SOL Smart Deposit
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COMMERCIAL3.50% PER ANNUM
Woori Bank
Woori WON Savings Account
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COMMERCIAL3.45% PER ANNUM
NH NongHyup Bank
NH Smart Deposit
CALCULATE YOUR SAVINGS
Use our interactive expense calculator to see exactly how much of your income you can save in Busan and which bank offers the best growth.
Key Facts
Cost of Living Index: 46.50 / 100Currency: ₩ (KRW) Avg Rent: $750.00/mo | Avg Food: $320.00/mo Launch Full Calculator for South Korea ➔
