What to know as new resident in South Korea: Language: Korean. Currency: South Korean Won. Emergency Number: 112. Public Transport: Efficient and Affordable. Internet: High-Speed, Widely Available. Social Etiquette: Respect Hierarchies, Bowing. Housing: Key Money, Lease Contracts. Healthcare: Public and Private Options. Banking: Documentation Required. Cuisine: Kimchi, Diverse Food Options.
Language: Korean
Learning Korean is not strictly necessary to live in Korea, but it significantly enhances your social life, job opportunities, and everyday interactions. Knowing the Korean alphabet, Hangul, and basic phrases can be very helpful, and there are many resources available to learn the language, including language schools and online tools. For more information, you can explore In My Korea, which offers insights and resources to help you on your language learning journey.
Currency: South Korean Won
The South Korean Won (KRW) is the currency of South Korea, divided into 100 jeon, although the jeon is no longer used in everyday transactions. The currency is managed by the Bank of Korea, and its exchange rate with the US dollar has remained relatively stable. Notably, after being allowed to float freely in the market since 1997, the rate is currently around 1 USD = 1,430 KRW. To learn more about the nuances of the South Korean Won, you can visit the Corporate Finance Institute website, which provides extensive resources on foreign exchange and other financial topics.
Emergency Number: 112
In South Korea, the emergency number 112 is designated for immediate police response. English-speaking operators are readily available to assist with any safety concerns or criminal incidents. For further information and tips on staying safe while traveling, you can visit the KoreabyBike website. It's essential to be aware of and understand these resources to ensure a secure and enjoyable stay in the country.
Public Transport: Efficient and Affordable
In South Korea, particularly in Seoul, the public transportation system is highly efficient and affordable, featuring an extensive network of subways, buses, and taxis. The subway system operates from 5:30 am to midnight, with color-coded lines and English signage, while buses are categorized by color and route type. Taxis are widely available and accept various payment methods, including Tmoney cards. For more detailed information, you can explore the extensive public transportation options at the Visit Seoul website.
Internet: High-Speed, Widely Available
In South Korea, high-speed internet is widely available, with the country boasting some of the fastest average internet connection speeds globally. The main providers, KT Olleh, SK Broadband, and LG U+, offer various plans with speeds that can reach up to 2.5 Gbps. Despite this, dormitories often provide free internet, while other housing options require a monthly service charge starting around 25,500 to 30,000 won. For more detailed information about these services, visit the Utilities Phone Internet Page on the Centers IBS website.
Social Etiquette: Respect Hierarchies, Bowing
In South Korea, social etiquette heavily emphasizes respect for hierarchies, with bowing being a fundamental aspect of greetings. A person who is younger or lower in position is expected to bow to someone older or higher in position, with the depth and type of bow, such as the 'keunjeol' or 90-degree bow, indicating the level of respect or formality. For more insights into these customs, you can explore the detailed overview provided on Korean Greetings, which highlights the rich cultural significance of these traditional practices.
Housing: Key Money, Lease Contracts
In South Korea, housing often involves the "key money" or "jeonse" system, where tenants pay a large lump sum deposit (typically 50-80% of the market value) instead of monthly rent, which is refunded at the end of the lease. Lease contracts must be carefully reviewed, and it is advisable to register the lease agreement at a local district office for legal protection, ensuring the deposit is returned and providing clarity on terms such as rent, deposit, lease duration, and termination clauses. For a comprehensive understanding of this process, it is beneficial to refer to a detailed guide on the Renting Process In Korea.
Healthcare: Public and Private Options
In South Korea, the healthcare system is primarily based on the National Health Insurance (NHI) program, which is mandatory for all residents after six months and covers 50-80% of medical costs. While public healthcare is of high quality and widely accessible, private health insurance is also available for additional coverage, particularly for chronic illnesses or treatments not included in the NHI scheme. For more detailed information, you can visit the InterNations website, where expats can find a comprehensive guide on healthcare in South Korea.
Banking: Documentation Required
To open a bank account in South Korea as a non-resident, you need to provide an Alien Registration Card (ARC), passport, Korean visa, and a Korean phone number. Additional documents such as a certificate of employment or university documents may also be required, depending on your reason for moving to Korea. For more detailed guidance on financial matters like this, consider visiting the InterNations Guide on banks and taxes in South Korea.
Cuisine: Kimchi, Diverse Food Options
In South Korea, cuisine is characterized by the principle of balance and harmony, with kimchi being a staple fermented vegetable side dish. The country offers a diverse range of food options, including communal dishes like Korean barbecue, bibimbap, various street foods like tteokbokki and hotteok, and a variety of soups and stews, all emphasizing communal eating and a blend of textures, colors, and flavors. For an extensive overview of these culinary delights, visit the Korea Cuisine Guide which provides insightful details on South Korea's rich gastronomic culture.