Cost of living comparison

Iceland

compared to

South Korea

Daejeon vs. Reykjavik Cost of Living Summary

Daejeon is 62.8% cheaper than Reykjavik.

Restaurants: pay 76.7% less in Daejeon
Groceries: pay 0.5% less in Daejeon
Transportation: pay 63.2% less in Daejeon
Housing: pay 77.9% less in Daejeon
Childcare: pay 53.6% less in Daejeon
Entertainment and Sports: pay 61.3% less in Daejeon
Clothing: pay 50.7% less in Daejeon

Expenses including housing, restaurants, transportation, entertainment and sports, childcare, and clothing are lower in Daejeon.

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Daejeon vs. Reykjavik Cost Breakdown

If you lived in Daejeon instead of Reykjavik, you would:

Display currency: USD

pay 76.7% less for restaurants

	Reykjavik	Daejeon
Basic meal with drink at inexpensive restaurant	$31.06 ISK3,813	$7.46 ₩10,179	-76.0%
Fast food combo meal McDonalds, or similar	$26.97 ISK3,312	$5.45 ₩7,431	-79.8%
Bottle of Coca-Cola (11 fl. oz)	$3.31 ISK407	$1.23 ₩1,680	-62.8%
Bottle of water (11 fl. oz)	$3.11 ISK381	$0.66 ₩896	-78.9%
Average			-76.7%

Reykjavik vs. Daejeon - Cost of restaurants

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pay 0.5% less for groceries

	Reykjavik	Daejeon
Bread 1 loaf	$4.19 ISK515	$2.71 ₩3,690	-35.5%
Local cheese (8 oz)	$10.93 ISK1,342	$5.50 ₩7,507	-49.6%
Milk (1 gallon)	$7.78 ISK955	$8.08 ₩11,020	+3.9%
Eggs 1 dozen	$7.08 ISK869	$2.52 ₩3,441	-64.4%
Boneless chicken breast (1 lb)	$11.00 ISK1,351	$3.64 ₩4,964	-66.9%
Apples (1 lb)	$1.50 ISK185	$4.99 ₩6,810	+232.0%
Bananas (1 lb)	$1.27 ISK156	$2.52 ₩3,440	+98.9%
Oranges (1 lb)	$1.46 ISK179	$2.60 ₩3,540	+77.9%
Tomatoes (1 lb)	$2.93 ISK360	$2.69 ₩3,671	-8.2%
Potatoes (1 lb)	$1.78 ISK218	$2.37 ₩3,232	+33.5%
Onions (1 lb)	$0.76 ISK93	$1.25 ₩1,708	+65.6%
Average			-0.5%

Reykjavik vs. Daejeon - Cost of groceries

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pay 63.2% less for transportation

	Reykjavik	Daejeon
Gasoline (1 gallon)	$7.76 ISK953	$4.72 ₩6,440	-39.2%
Monthly public transit pass	$94.80 ISK11,641	$11.20 ₩15,269	-88.2%
New Volkswagen Golf 1.4 (standard edition)	$50,588.43 ISK6M	$28,162.26 ₩38M	-44.3%
Taxi trip in downtown area (5 miles)	$29.26 ISK3,593	$9.18 ₩12,521	-68.6%
Average			-63.2%

Reykjavik vs. Daejeon - Cost of transportation

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pay 77.9% less for housing

	Reykjavik	Daejeon
Internet connection 50 mbps or faster, cable/dsl	$86.01 ISK10,561	$22.39 ₩30,538	-74.0%
1-Bedroom apartment in downtown area	$2,522.88 ISK310K	$373.20 ₩509K	-85.2%
1-Bedroom apartment outside city center	$2,032.25 ISK250K	$298.56 ₩407K	-85.3%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$73.44 ISK9,018	$133.06 ₩181K	+81.2%
Average			-77.9%

Reykjavik vs. Daejeon - Cost of housing

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pay 53.6% less for childcare

	Reykjavik	Daejeon
Private preschool for 1 child, monthly	$1,185.23 ISK146K	$302.29 ₩412K	-74.5%
Middle school for 1 child, two semesters	$25,853.51 ISK3M	$21,781.84 ₩30M	-15.7%
Average			-53.6%

Reykjavik vs. Daejeon - Cost of childcare

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pay 61.3% less for entertainment and sports

	Reykjavik	Daejeon
Domestic/local beer (1 pint)	$13.89 ISK1,706	$3.55 ₩4,835	-74.5%
Cappuccino in mid-range area	$6.74 ISK828	$3.68 ₩5,015	-45.5%
Pack of cigarettes Marlboro or similar	$13.89 ISK1,706	$3.36 ₩4,581	-75.8%
Monthly membership at local gym	$100.25 ISK12,310	$33.59 ₩45,807	-66.5%
Movie ticket to theater/cinema	$19.57 ISK2,403	$11.20 ₩15,269	-42.8%
Average			-61.3%

Reykjavik vs. Daejeon - Cost of entertainment and sports

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pay 50.7% less for clothing

	Reykjavik	Daejeon
Regular jeans Levi's brand	$149.01 ISK18,297	$64.19 ₩87,542	-56.9%
Regular dress from H&M or similar store	$65.79 ISK8,078	$41.05 ₩55,986	-37.6%
Running shoes Nike or Adidas	$181.84 ISK22,328	$93.30 ₩127K	-48.7%
Men's business shoes (leather)	$248.81 ISK30,551	$106.36 ₩145K	-57.3%
Average			-50.7%

Reykjavik vs. Daejeon - 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 November 2026). How we calculate this

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