Cost of living comparison
compared to
Iceland vs. South Korea Cost of Living Summary
Iceland is 2.4 times more expensive than South Korea overall.
- Restaurants
-
pay 3.3 times more in Iceland
- Groceries
-
pay 30.4% more in Iceland
- Transportation
-
pay 2.2 times more in Iceland
- Housing
-
pay 3.7 times more in Iceland
- Childcare
-
pay 46.2% more in Iceland
- Entertainment and Sports
-
pay 2.5 times more in Iceland
- Clothing
-
pay 93.5% more in Iceland
The cost of housing, restaurants, entertainment and sports, transportation, clothing, and childcare in Iceland are more expensive than in South Korea. Notably, housing, restaurants, and entertainment and sports are significantly more expensive in Iceland.
Iceland vs. South Korea Cost Breakdown
If you lived in Iceland instead of South Korea, you would:
pay 3.3 times more for restaurants
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Basic meal with drink at inexpensive restaurant |
$6.72
₩9,865
|
$26.52
ISK3,394
|
|
|
Fast food combo meal
McDonalds, or similar
|
$5.50
₩8,068
|
$21.32
ISK2,728
|
|
| Bottle of Coca-Cola (11 fl. oz) |
$1.47
₩2,152
|
$3.11
ISK398
|
|
| Bottle of water (11 fl. oz) |
$0.82
₩1,211
|
$2.72
ISK348
|
|
South Korea vs. Iceland - Cost of restaurants
pay 30.4% more for groceries
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Bread
1 loaf
|
$2.87
₩4,217
|
$3.80
ISK487
|
|
| Local cheese (8 oz) |
$5.63
₩8,255
|
$9.44
ISK1,208
|
|
| Milk (1 gallon) |
$7.67
₩11,264
|
$7.78
ISK996
|
|
|
Eggs
1 dozen
|
$2.84
₩4,162
|
$6.71
ISK859
|
|
| Boneless chicken breast (1 lb) |
$3.34
₩4,896
|
$11.22
ISK1,436
|
|
| Apples (1 lb) |
$3.24
₩4,748
|
$1.50
ISK191
|
|
| Bananas (1 lb) |
$1.39
₩2,037
|
$1.15
ISK147
|
|
| Oranges (1 lb) |
$2.80
₩4,104
|
$1.41
ISK181
|
|
| Tomatoes (1 lb) |
$2.40
₩3,528
|
$2.34
ISK300
|
|
| Potatoes (1 lb) |
$1.78
₩2,616
|
$1.65
ISK211
|
|
| Onions (1 lb) |
$1.20
₩1,767
|
$1.09
ISK140
|
|
South Korea vs. Iceland - Cost of groceries
pay 2.2 times more for transportation
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Gasoline (1 gallon) |
$4.40
₩6,458
|
$9.65
ISK1,235
|
|
| Monthly public transit pass |
$47.17
₩69,233
|
$79.56
ISK10,182
|
|
| New Volkswagen Golf 1.4 (standard edition) |
$26,440.41
₩38,804,738
|
$49,144.25
ISK6,289,481
|
|
| Taxi trip in downtown area (5 miles) |
$8.33
₩12,228
|
$25.55
ISK3,270
|
|
South Korea vs. Iceland - Cost of transportation
pay 3.7 times more for housing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Internet connection
50 mbps or faster, cable/dsl
|
$21.68
₩31,824
|
$95.65
ISK12,241
|
|
| 1-Bedroom apartment in downtown area |
$473.91
₩695,518
|
$2,289.17
ISK292,968
|
|
| 1-Bedroom apartment outside city center |
$357.19
₩524,216
|
$1,830.04
ISK234,209
|
|
|
Utilities for two
(700 sq ft apartment)
including electric, gas, water, heating
|
$132.53
₩194,509
|
$65.15
ISK8,338
|
|
South Korea vs. Iceland - Cost of housing
pay 46.2% more for childcare
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Private preschool for 1 child, monthly |
$378.52
₩555,533
|
$334.67
ISK42,830
|
|
| Middle school for 1 child, two semesters |
$15,055.40
₩22,095,763
|
$30,711.08
ISK3,930,404
|
|
South Korea vs. Iceland - Cost of childcare
pay 2.5 times more for entertainment and sports
|
South Korea
|
Iceland
|
||
|---|---|---|---|
| Domestic/local beer (1 pint) |
$3.12
₩4,576
|
$11.14
ISK1,426
|
|
| Cappuccino in mid-range area |
$3.57
₩5,236
|
$5.62
ISK720
|
|
|
Pack of cigarettes
Marlboro or similar
|
$3.18
₩4,673
|
$13.90
ISK1,778
|
|
| Monthly membership at local gym |
$49.86
₩73,176
|
$78.17
ISK10,004
|
|
| Movie ticket to theater/cinema |
$10.12
₩14,850
|
$16.75
ISK2,144
|
|
South Korea vs. Iceland - Cost of entertainment and sports
pay 93.5% more for clothing
|
South Korea
|
Iceland
|
||
|---|---|---|---|
|
Regular jeans
Levi's brand
|
$66.46
₩97,538
|
$130.91
ISK16,753
|
|
|
Regular dress
from H&M or similar store
|
$50.68
₩74,384
|
$61.83
ISK7,913
|
|
|
Running shoes
Nike or Adidas
|
$72.74
₩106,755
|
$163.81
ISK20,965
|
|
| Men's business shoes (leather) |
$103.23
₩151,509
|
$237.31
ISK30,371
|
|
South Korea vs. Iceland - Cost of clothing
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: December 2025
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