Cost of living comparison

Panama

compared to

South Korea

South Korea vs. Panama Cost of Living Summary

South Korea is 13.2% more expensive than Panama overall.

Restaurants: pay 18.4% less in South Korea
Groceries: pay 44.8% more in South Korea
Transportation: pay 16.6% more in South Korea
Housing: pay 22.0% less in South Korea
Childcare: pay 32.1% more in South Korea
Entertainment and Sports: pay 17.1% more in South Korea
Clothing: pay 22.3% more in South Korea

The cost of groceries, childcare, clothing, entertainment and sports, and transportation in South Korea are more expensive than in Panama. Expenses including housing and restaurants are lower in South Korea.

South Korea vs. Panama Cost Breakdown

If you lived in South Korea instead of Panama, you would:

Display currency: USD

pay 18.4% less for restaurants

	Panama	South Korea
Basic meal with drink at inexpensive restaurant	$8.35 PAB8.35	$6.72 ₩10,133	-19.5%
Fast food combo meal McDonalds, or similar	$7.75 PAB7.75	$5.50 ₩8,286	-29.1%
Bottle of Coca-Cola (11 fl. oz)	$1.37 PAB1.37	$1.47 ₩2,210	+6.8%
Bottle of water (11 fl. oz)	$1.21 PAB1.21	$0.82 ₩1,243	-31.8%
Average			-18.4%

Panama vs. South Korea - Cost of restaurants

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pay 44.8% more for groceries

	Panama	South Korea
Bread 1 loaf	$2.21 PAB2.21	$2.87 ₩4,332	+29.9%
Local cheese (8 oz)	$6.02 PAB6.02	$5.63 ₩8,479	-6.6%
Milk (1 gallon)	$6.86 PAB6.86	$7.67 ₩11,569	+11.9%
Eggs 1 dozen	$2.47 PAB2.47	$2.84 ₩4,275	+14.9%
Boneless chicken breast (1 lb)	$3.58 PAB3.58	$3.34 ₩5,029	-6.7%
Apples (1 lb)	$2.13 PAB2.13	$3.24 ₩4,877	+51.6%
Bananas (1 lb)	$0.60 PAB0.60	$1.39 ₩2,092	+131.8%
Oranges (1 lb)	$1.40 PAB1.40	$2.80 ₩4,215	+99.1%
Tomatoes (1 lb)	$1.51 PAB1.51	$2.40 ₩3,624	+59.7%
Potatoes (1 lb)	$0.96 PAB0.96	$1.78 ₩2,687	+85.9%
Onions (1 lb)	$0.99 PAB0.99	$1.20 ₩1,815	+21.5%
Average			+44.8%

Panama vs. South Korea - Cost of groceries

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pay 16.6% more for transportation

	Panama	South Korea
Gasoline (1 gallon)	$3.87 PAB3.87	$4.40 ₩6,633	+13.8%
Monthly public transit pass	$23.75 PAB23.75	$47.17 ₩71,110	+98.6%
New Volkswagen Golf 1.4 (standard edition)	$23,416.67 PAB23,416.67	$26,440.41 ₩40M	+12.9%
Taxi trip in downtown area (5 miles)	$20.20 PAB20.20	$8.33 ₩12,560	-58.8%
Average			+16.6%

Panama vs. South Korea - Cost of transportation

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pay 22.0% less for housing

	Panama	South Korea
Internet connection 50 mbps or faster, cable/dsl	$48.39 PAB48.39	$21.68 ₩32,687	-55.2%
1-Bedroom apartment in downtown area	$765.94 PAB765.94	$473.91 ₩714K	-38.1%
1-Bedroom apartment outside city center	$630.77 PAB630.77	$357.19 ₩538K	-43.4%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$89.09 PAB89.09	$132.53 ₩200K	+48.8%
Average			-22.0%

Panama vs. South Korea - Cost of housing

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pay 32.1% more for childcare

	Panama	South Korea
Private preschool for 1 child, monthly	$363.00 PAB363.00	$378.52 ₩571K	+4.3%
Middle school for 1 child, two semesters	$9,411.11 PAB9,411.11	$15,055.40 ₩23M	+60.0%
Average			+32.1%

Panama vs. South Korea - Cost of childcare

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pay 17.1% more for entertainment and sports

	Panama	South Korea
Domestic/local beer (1 pint)	$1.95 PAB1.95	$3.12 ₩4,700	+59.9%
Cappuccino in mid-range area	$3.54 PAB3.54	$3.57 ₩5,378	+0.8%
Pack of cigarettes Marlboro or similar	$5.48 PAB5.48	$3.18 ₩4,800	-41.9%
Monthly membership at local gym	$51.47 PAB51.47	$49.86 ₩75,160	-3.1%
Movie ticket to theater/cinema	$5.97 PAB5.97	$10.12 ₩15,252	+69.6%
Average			+17.1%

Panama vs. South Korea - Cost of entertainment and sports

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pay 22.3% more for clothing

	Panama	South Korea
Regular jeans Levi's brand	$43.33 PAB43.33	$66.46 ₩100K	+53.4%
Regular dress from H&M or similar store	$34.17 PAB34.17	$50.68 ₩76,401	+48.3%
Running shoes Nike or Adidas	$80.40 PAB80.40	$72.74 ₩110K	-9.5%
Men's business shoes (leather)	$106.46 PAB106.46	$103.23 ₩156K	-3.0%
Average			+22.3%

Panama vs. South Korea - Cost of clothing

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The statistics used to build this comparison are calculated using data from users just like you. We average the price of thousands of data points entered by users across the world. Learn more about our data sources. Page last updated: June 2026

Compare further: Panama vs. South Korea

Salary Calculator · Free tool

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Quality of Life Comparison · 12 statistics

Be 60.6% less likely to be unemployed in South Korea

Size Comparison · See true size

Panama is about 1.3 times smaller than South Korea.

Moving from Panama to South Korea · OECD 2023

17 people moved from Panama to South Korea.

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