Cost of living comparison

South Korea

compared to

Panama

Panama City vs. Seoul Cost of Living Summary

Panama City is 2.6% cheaper than Seoul.

Restaurants: pay 25.8% more in Panama City
Groceries: pay 23.1% less in Panama City
Transportation: pay 25.1% less in Panama City
Housing: pay 28.2% more in Panama City
Childcare: pay 65.3% less in Panama City
Entertainment and Sports: pay 8.8% less in Panama City
Clothing: pay 32.9% more in Panama City

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

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Panama City vs. Seoul Cost Breakdown

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

Display currency: USD

pay 25.8% more for restaurants

	Seoul	Panama City
Basic meal with drink at inexpensive restaurant	$8.96 ₩11,955	$11.50 PAB11.50	+28.4%
Fast food combo meal McDonalds, or similar	$7.46 ₩9,962	$8.00 PAB8.00	+7.2%
Bottle of Coca-Cola (11 fl. oz)	$1.58 ₩2,112	$1.97 PAB1.97	+24.6%
Bottle of water (11 fl. oz)	$0.79 ₩1,049	$1.60 PAB1.60	+103.5%
Average			+25.8%

Seoul vs. Panama City - Cost of restaurants

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pay 23.1% less for groceries

	Seoul	Panama City
Bread 1 loaf	$3.10 ₩4,134	$2.52 PAB2.52	-18.8%
Local cheese (8 oz)	$8.84 ₩11,798	$6.18 PAB6.18	-30.0%
Milk (1 gallon)	$7.79 ₩10,403	$7.09 PAB7.09	-9.1%
Eggs 1 dozen	$3.61 ₩4,813	$2.75 PAB2.75	-23.8%
Boneless chicken breast (1 lb)	$4.74 ₩6,328	$3.07 PAB3.07	-35.3%
Apples (1 lb)	$3.46 ₩4,624	$1.87 PAB1.87	-46.0%
Bananas (1 lb)	$1.57 ₩2,091	$0.82 PAB0.82	-47.4%
Oranges (1 lb)	$2.59 ₩3,462	$1.92 PAB1.92	-26.0%
Tomatoes (1 lb)	$2.83 ₩3,782	$1.86 PAB1.86	-34.5%
Potatoes (1 lb)	$1.66 ₩2,211	$1.55 PAB1.55	-6.7%
Onions (1 lb)	$1.16 ₩1,542	$1.96 PAB1.96	+69.5%
Average			-23.1%

Seoul vs. Panama City - Cost of groceries

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pay 25.1% less for transportation

	Seoul	Panama City
Gasoline (1 gallon)	$5.53 ₩7,384	$4.62 PAB4.62	-16.5%
Monthly public transit pass	$46.28 ₩61,767	$21.00 PAB21.00	-54.6%
New Volkswagen Golf 1.4 (standard edition)	$29,385.60 ₩39M	$21,262.00 PAB21,262.00	-27.6%
Taxi trip in downtown area (5 miles)	$8.51 ₩11,357	$16.98 PAB16.98	+99.6%
Average			-25.1%

Seoul vs. Panama City - Cost of transportation

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pay 28.2% more for housing

	Seoul	Panama City
Internet connection 50 mbps or faster, cable/dsl	$20.82 ₩27,787	$48.70 PAB48.70	+133.9%
1-Bedroom apartment in downtown area	$886.39 ₩1M	$1,262.50 PAB1,262.50	+42.4%
1-Bedroom apartment outside city center	$620.25 ₩828K	$874.18 PAB874.18	+40.9%
Utilities for two (700 sq ft apartment) including electric, gas, water, heating	$162.69 ₩217K	$100.29 PAB100.29	-38.4%
Average			+28.2%

Seoul vs. Panama City - Cost of housing

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pay 65.3% less for childcare

	Seoul	Panama City
Private preschool for 1 child, monthly	$1,927.59 ₩3M	$543.33 PAB543.33	-71.8%
Middle school for 1 child, two semesters	$22,602.27 ₩30M	$9,641.50 PAB9,641.50	-57.3%
Average			-65.3%

Seoul vs. Panama City - Cost of childcare

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pay 8.8% less for entertainment and sports

	Seoul	Panama City
Domestic/local beer (1 pint)	$3.73 ₩4,981	$3.30 PAB3.30	-11.6%
Cappuccino in mid-range area	$4.10 ₩5,473	$4.11 PAB4.11	+0.2%
Pack of cigarettes Marlboro or similar	$3.36 ₩4,483	$6.00 PAB6.00	+78.6%
Monthly membership at local gym	$58.22 ₩77,707	$46.40 PAB46.40	-20.3%
Movie ticket to theater/cinema	$11.20 ₩14,944	$8.50 PAB8.50	-24.1%
Average			-8.8%

Seoul vs. Panama City - Cost of entertainment and sports

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pay 32.9% more for clothing

	Seoul	Panama City
Regular jeans Levi's brand	$57.88 ₩77,255	$66.67 PAB66.67	+15.2%
Regular dress from H&M or similar store	$32.77 ₩43,743	$48.43 PAB48.43	+47.8%
Running shoes Nike or Adidas	$69.99 ₩93,417	$94.62 PAB94.62	+35.2%
Men's business shoes (leather)	$82.45 ₩110K	$111.67 PAB111.67	+35.4%
Average			+32.9%

Seoul vs. Panama City - 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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