Cost of living comparison

Panama

compared to

South Korea

Seoul vs. Panama City Cost of Living Summary

Seoul is 2.7% more expensive than Panama City.

Restaurants: pay 20.5% less in Seoul
Groceries: pay 30.1% more in Seoul
Transportation: pay 33.5% more in Seoul
Housing: pay 22.0% less in Seoul
Childcare: pay 2.9 times more in Seoul
Entertainment and Sports: pay 9.6% more in Seoul
Clothing: pay 24.7% less in Seoul

The cost of childcare, transportation, groceries, and entertainment and sports in Seoul are more expensive than in Panama City. Expenses including clothing, housing, and restaurants are lower in Seoul. Notably, childcare is significantly more expensive in Seoul.

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Seoul vs. Panama City Cost Breakdown

If you lived in Seoul instead of Panama City, you would:

Display currency: USD

pay 20.5% less for restaurants

	Panama City	Seoul
Basic meal with drink at inexpensive restaurant	$11.50 PAB11.50	$8.96 ₩11,955	-22.1%
Fast food combo meal McDonalds, or similar	$8.00 PAB8.00	$7.46 ₩9,962	-6.7%
Bottle of Coca-Cola (11 fl. oz)	$1.97 PAB1.97	$1.58 ₩2,112	-19.7%
Bottle of water (11 fl. oz)	$1.60 PAB1.60	$0.79 ₩1,049	-50.9%
Average			-20.5%

Panama City vs. Seoul - Cost of restaurants

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pay 30.1% more for groceries

	Panama City	Seoul
Bread 1 loaf	$2.52 PAB2.52	$3.10 ₩4,134	+23.1%
Local cheese (8 oz)	$6.18 PAB6.18	$8.84 ₩11,798	+42.9%
Milk (1 gallon)	$7.09 PAB7.09	$7.79 ₩10,403	+10.0%
Eggs 1 dozen	$2.75 PAB2.75	$3.61 ₩4,813	+31.3%
Boneless chicken breast (1 lb)	$3.07 PAB3.07	$4.74 ₩6,328	+54.6%
Apples (1 lb)	$1.87 PAB1.87	$3.46 ₩4,624	+85.3%
Bananas (1 lb)	$0.82 PAB0.82	$1.57 ₩2,091	+90.1%
Oranges (1 lb)	$1.92 PAB1.92	$2.59 ₩3,462	+35.2%
Tomatoes (1 lb)	$1.86 PAB1.86	$2.83 ₩3,782	+52.7%
Potatoes (1 lb)	$1.55 PAB1.55	$1.66 ₩2,211	+7.1%
Onions (1 lb)	$1.96 PAB1.96	$1.16 ₩1,542	-41.0%
Average			+30.1%

Panama City vs. Seoul - Cost of groceries

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pay 33.5% more for transportation

	Panama City	Seoul
Gasoline (1 gallon)	$4.62 PAB4.62	$5.53 ₩7,384	+19.7%
Monthly public transit pass	$21.00 PAB21.00	$46.28 ₩61,767	+120.4%
New Volkswagen Golf 1.4 (standard edition)	$21,262.00 PAB21,262.00	$29,385.60 ₩39M	+38.2%
Taxi trip in downtown area (5 miles)	$16.98 PAB16.98	$8.51 ₩11,357	-49.9%
Average			+33.5%

Panama City vs. Seoul - Cost of transportation

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pay 22.0% less for housing

	Panama City	Seoul
Internet connection 50 mbps or faster, cable/dsl	$48.70 PAB48.70	$20.82 ₩27,787	-57.3%
1-Bedroom apartment in downtown area	$1,262.50 PAB1,262.50	$886.39 ₩1M	-29.8%
1-Bedroom apartment outside city center	$874.18 PAB874.18	$620.25 ₩828K	-29.0%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$100.29 PAB100.29	$162.69 ₩217K	+62.2%
Average			-22.0%

Panama City vs. Seoul - Cost of housing

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pay 2.9 times more for childcare

	Panama City	Seoul
Private preschool for 1 child, monthly	$543.33 PAB543.33	$1,927.59 ₩3M	+254.8%
Middle school for 1 child, two semesters	$9,641.50 PAB9,641.50	$22,602.27 ₩30M	+134.4%
Average			+188.4%

Panama City vs. Seoul - Cost of childcare

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pay 9.6% more for entertainment and sports

	Panama City	Seoul
Domestic/local beer (1 pint)	$3.30 PAB3.30	$3.73 ₩4,981	+13.1%
Cappuccino in mid-range area	$4.11 PAB4.11	$4.10 ₩5,473	-0.2%
Pack of cigarettes Marlboro or similar	$6.00 PAB6.00	$3.36 ₩4,483	-44.0%
Monthly membership at local gym	$46.40 PAB46.40	$58.22 ₩77,707	+25.5%
Movie ticket to theater/cinema	$8.50 PAB8.50	$11.20 ₩14,944	+31.7%
Average			+9.6%

Panama City vs. Seoul - Cost of entertainment and sports

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pay 24.7% less for clothing

	Panama City	Seoul
Regular jeans Levi's brand	$66.67 PAB66.67	$57.88 ₩77,255	-13.2%
Regular dress from H&M or similar store	$48.43 PAB48.43	$32.77 ₩43,743	-32.3%
Running shoes Nike or Adidas	$94.62 PAB94.62	$69.99 ₩93,417	-26.0%
Men's business shoes (leather)	$111.67 PAB111.67	$82.45 ₩110K	-26.2%
Average			-24.7%

Panama City vs. Seoul - Cost of clothing

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We average the price of thousands of data points entered by users across the world. Sources: MyLifeElsewhere's cost-of-living dataset (prices updated October 2026). How we calculate this

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