Shopping & Exchange Rate

Is Korea Expensive in 2026? Seoul vs NY, Tokyo Prices

Kim Taechoul, ReporterPublished 2026-11-02 KST

✓ Verified 2026-11-02 · against official sourcesOriginal source ↗A daily paper for first-time visitors to Korea · every morning · Korean · English · Japanese · Chinese · Vietnamese · Indonesian

Photo: A street in Gangnam, Seoul, used for illustration only — not the specific hotels or restaurants in this article. Korea Tourism Organization (KOGL Type 1)

Bottom line: Don't let the "Korea got expensive" vibe push your trip budget up to New York or Paris levels. Real research data shows Seoul's average hotel, taxi, and meal prices are still clearly below New York, Paris, Tokyo, and London.

If you didn't know: If you budget for Seoul lodging at New York's average rate (about $419, roughly 559,000 won a night), you'd overpay by roughly 440,000 won a night compared to Seoul's real average of about $90 (about 120,000 won). Same with taxis — brace for Tokyo-level fares (about $34.65 for 10 km, roughly 46,200 won) and you'll miss the roughly 35,000-won gap versus Seoul's actual average of about $8.65 (roughly 11,500 won) for the same distance.

At a glance

Average 1-night hotel (Yanolja Research, April 23, 2026) — Seoul $89.9 (~120,000 won) · New York $419.4 (~559,000 won) · Paris $332.7 · Tokyo $140.5 · Hong Kong $86 · Busan $53. 10km taxi — Seoul $8.65 (~11,500 won) · Tokyo $34.65 · London $39.03 · Busan $10.05. Meal for one — Seoul $8.79 (~11,700 won) · New York $25 · London $26.8 · Tokyo $7.57 · Hong Kong $7.66 · Busan $6.76. Won conversion uses a rate of $1 = 1,333 won as of 2026-11-02.

How we checked this

A report Yanolja Research published on April 23, 2026 compared average hotel rates, 10km taxi fares, and single-meal prices across Seoul, New York, Paris, Tokyo, London, Hong Kong, and Busan, concluding that viral price-gouging anecdotes on social media had skewed perception of Korea's overall cost level. Seoul isn't the cheapest on every line, though — both Hong Kong and Busan beat Seoul on some hotel and meal comparisons. The research's overall conclusion is that Seoul sits in the lower-middle range among major travel cities on lodging, taxis, and meals combined. The won figures here use an exchange rate cross-checked on the open.er-api.com live-quote screen (timestamped 2026-11-02 00:02 UTC) and the frankfurter.app screen (dated 2026-11-01), both showing roughly 1,333-1,336 won per dollar.

This article summarizes official and research data for general guidance; it is not legal, medical, or financial advice.

Journey stage: During the trip · Verified 2026-11-02

Source · how this was written — Written by the Korea Tourism Times editorial desk · Original sourceone source — not cross-checked

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Before-you-go guides: Seoul: Your First 3 Days Money, Data & Getting Around

Is Korea Expensive in 2026? Seoul vs NY, Tokyo Prices

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