How can I save money and stick to a budget while studying in South Korea as an Indian student?
12 Oct 2026 · Answered by Syeda Uzma · 2 min read
Quick Answer
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To save money in South Korea, start in a dorm or goshiwon, eat at university cafeterias and use public transport. Use convenience store 1+1 deals, open a local student bank account and buy household items cheaply. A strong English or TOPIK score may unlock tuition discounts.
Students often overspend in their first few months abroad, so a few habits help from day one. Here is how to stretch your budget in South Korea.
Everyday Savings Ideas
| Area | Tip |
|---|---|
| Housing | Start in a university dorm or goshiwon, as private shared housing costs more and needs a deposit |
| Meals | University cafeterias at around KRW 4,500 to KRW 7,000 per meal (approx INR 325 to approx INR 506) |
| Transport | Use public buses or subways |
| Household items | Daiso items at around KRW 1,000 to KRW 5,000 (approx INR 72 to approx INR 362) |
| Second-hand goods | Use the local app Karrot for appliances and lamps |
Smarter Money Habits
- Use the 1+1 and 2+1 deals at chains such as GS25, CU and Seven-Eleven, and claim free items later through their apps.
- Open a local bank account usually after you get your Alien Registration Card, as bank requirements vary, and request a student check card, instead of relying on forex cards with hidden markups and ATM fees.
- An IELTS score of 6.5 or above, or TOPIK Level 3 or above, may unlock a tuition discount of around 30% to 50% at many private universities in the first semester.
My Advice
Set a monthly budget before you land and track your spending in the first two months, as that is when most students overspend. Move out of the dorm only after you understand your real costs.
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