Why is Korea So Expensive?

"Why is Korea so expensive?" This question has been on the lips of every tourist for the past two years. The answer to that question will surprise you. Although no one knows how much the country's economy will collapse, the currency devalues constantly. This constant depreciation is what leads to high cost of goods and services. In other words, we pay more for the same type of items in Korea than in the US.

The first reason is because Korea manufactures much of its own hardware. Unlike in the US, where the biggest items are manufactured here, Korea uses foreign-made equipment a lot. In fact, the US does not spend nearly as much on their cars and computers as we do on theirs. Therefore, when we buy these things, the price is higher. 

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Another reason is because it is so difficult to import products into the country. The Korean DMV (Commerce and Distribution Border) require that each item is loaded into a truck, driven across the border, and then imported into Korea. This process takes three days. Since each truck can only carry a certain amount of goods per trip, you have to plan your trips carefully if you want to take advantage of lower import prices. You can still take advantage of low prices, if you plan to make a return trip.

Lastly, since the Korean dollar is quite weak against the US dollar, you pay quite a bit more for the same items when you import them. This is especially true if you are importing raw materials. This factor only applies if you are bringing products in containers rather than on pallets. What does this all translate into for me as a consumer? High cost of living comes with a high cost of living. That means you pay more for everything. Goods cost more, which drives up costs for everything from gas to food. In Korea, a lot of the cost of importing comes from the high price of petroleum. This makes all the products you buy more expensive.

On top of that, there's the issue of the dollar. It's worth very little. This means you have to pay substantially higher amounts for foreign currencies when you purchase them. This makes everything from food and items to goods imported all cost more. Add to that the high cost of shipping goods back and forth. These factors all add up to a lot of money.

While living in South Korea might allow you to enjoy some privileges, you have to look to the cost of living first. If you take that as the only factor, you will be disappointed. If you want to enjoy the good life while still maintaining a reasonable lifestyle, you need to pay attention to the cost of doing so. Fortunately, many countries in South Korea are able to export their goods at a very low price. This allows people to import these products while paying far less than what it would cost in the US or Europe.

In short, you won't be sorry that you decided to import cheap Korean goods into your life. You'll find great things that you've never seen before and this will have a great effect on how you live. However, if you're looking for a reason as to why is Korea so expensive, consider whether or not you would like to pay slightly more for the privilege. The result could be great and this could lead to a better quality of life for you and your family. This is one decision that you shouldn't make lightly but will likely make for a very enjoyable experience.

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