How Much Should You Save Before Moving To South Korea To Teach English in 2026?

Costs vary depending on what country you’re from. You can expect to pay anywhere from $1,100  to $2,300, depending on the options you choose, such as your chosen TEFL course, expediting the apostilling of your documents, using a courier service, and the flights from your home country – to name a few expenses.

*Bear in mind that certain costs mentioned below are subject to your home country. 

TEFL certificate: $120-$540

• A Combined TEFL Course, Level 5 TEFL Diploma (168hrs) (from The TEFL Academy, of course!) is recommended as it has a 10-hour in-classroom practicum, which is perfect for getting teacher practice!
  • $270- $530
• An Online Level 5 TEFL Diploma (168 hours) is best for securing formal work like contracted positions, including government teaching programmes.
  • $214 – $360
• An Online Level 3 TEFL Certificate (120 hours) is best for volunteering, teaching English online and other casual TEFL work.
  • $120 – $200

Visa documents: $80 – $60

• E2 Visa application: $40 – $200

Criminal background check: $0-$120

Apostilling of documents (criminal background check, copy of your Bachelor’s degree, an official copy of your degree transcript): $0  – $120 (excluding expediting; $36-$120 including expediting)

Courier/postage for sending documents to a South Korean employer/recruiter: $30 -$160

Passport photos: $5 -$15

Flights: Variable

Minimum bank balance:  $650 (ballpark figure)  

• • Bring as much money as you can – it’s better to be over-prepared for any unexpected costs.
  • Have cash with you as you’ll need to buy a bus card, food, in case your bank card doesn’t work at ATMs

SIM card at the airport: $5-$54

• • Buy a 1+ month SIM contract from the airport.
  • If you don’t, you won’t be able to buy a SIM card elsewhere until you have your Alien Registration Card (ARC), which could take about a month to get. Additionally, without a SIM card and phone number, you won’t be able to open a bank account.

Source: 데시청두, CC0, via Wikimedia Commons

• Travel insurance: $40 -$80
  • Before your NHI (National Health Insurance) is activated, having travel insurance will cover any medical or travel emergencies. 

During the first month of your arrival in South Korea, you can expect to spend between $190 (₩250,000) and $325 (₩450,000) before you receive your teacher’s salary. This is naturally dependent on how much you choose to spend on food, going out, exploring and so on.

But here are the main costs you can expect: 

• ARC (Alien Registration Card) card fee: $25 (₩35,000) – in cash
• Health check at local hospital: $40 – $90 (₩60,000 – ₩120,000) – in cash
• Transport T-Money Card: $2 (₩3,000)
  • Single fare bus trip: $1 (₩1,150)
• Groceries: $100 – $300 (₩140,000 – ₩400,000)

Besides your salary, employers offer quite a few financial perks, which make teaching English in South Korea very attractive. 

• Free/Subsidised housing: Government teaching programmes and private academies (hagwons) mostly offer free furnished housing or, alternatively, a housing allowance.
• Entrance allowance: $1,300 (₩1,800,000) 
  • You receive this once-off payment after your first month of working, to cover your flight cost to Korea.
• Contract completion bonus: A bonus equivalent to a one-month salary is offered at the end of your 1-year contract.
• Compulsory medical insurance:
  • In most cases, 50% of your NHI premium is paid by your employer, with the other half coming off your paycheque.
• National Pension Plan: Teachers from countries with a pension treaty (like Ireland, the USA, Canada, and Australia) get half their premium paid by their employer to Korea’s National Pension System – which will be refunded on departure. Check your country’s eligibility here.

EPIK/SMOE/GEPIK/GOE – Government Programmes

• Settlement allowance:  $220 (₩300,000)
  • This is a once- off payment which you receive after your first month of working.
• Bonus pay for rural placements: An incentive of  $70 – $150 (₩100,000 – ₩200,000) per month is offered to TEFL teachers who are placed in rural locations.
• Contract completion bonus: At the end of your 1-year contract, you’ll be given one month’s salary, which could be anywhere between  $1,400 to $1,940 (₩2M – ₩2.7M) depending on what your current salary is.
• Contract renewal bonus: Renewing your contract for a second year will give you a new settlement allowance of  $500 (₩700,000) + extra paid vacation days! 

Read more: Discover The EPIK Programme

Where do ESL teachers earn the highest salaries in South Korea?

The highest-paid teachers in South Korea have a minimum of 2+ years of teaching experience along with a valid teaching license, and work at international schools and universities. 

Read more: What It’s Like Teaching In South Korea: Rural vs Urban Living Compared

Did somebody say money-saving tips for teachers? Many TEFL teachers fall into the trap of splurging when they receive their paycheque. Fortunately, there are plenty of simple ways to save money without sacrificing your experience. 

If you’re disciplined and set on saving money, you can bank enough to go on holiday to neighbouring countries, pay off any debt accrued in your home country, or save it for a rainy day. 

Here is some financial advice for teachers who want to save money while living and teaching in South Korea:

• Avoid the temptation of living in Seoul – the cost of living is higher in this metro city.
• Use public transport. 
• Eat at home. If you drink alcohol, buy it from convenience stores and enjoy it at home, instead of buying it in restaurants.
• One of the best ways for teachers to make extra money is to teach extra lessons in person or online.
• Find cheap entertainment – hiking, exploring your city on foot or taking a trip to a different city by bus has saved so many teachers money!
• Don’t splurge on unnecessary shopping items – the temptation to buy frivolous things is real. 
• Limit the amount of electricity you use for heating during winter – electricity bills usually double in winter. By dressing warmly, you can mitigate a high utility bill!

An ESL teacher’s salary is usually paid after one full working month. Flight re-imbursement and settlement allowances will be included as well. 

You’ll need to have your bank account set up before then, as your employer will transfer your salary into your South Korean account. You’ll need your passport, Alien Registration card (ARC) and a South Korean phone number.

Moving to South Korea to teach English can certainly feel expensive to begin with; however, with the right preparation in place, it’s totally manageable. 

Most ESL teachers should aim to save about $2,000-$3,000 to cover their initial start-up costs, their first month’s expenses, and any unexpected fees that crop up. 

Once you’re all settled and receiving your TEFL salary, you’ll discover that Korea is not just an incredible place to live and work, but also one of the best countries in Asia to save money. 

If you’re looking to make the transition smoother and maximise your savings, check out some of our other TEFL Guide posts below. With the right support and a pinch of planning, your dream of teaching abroad can become a reality – no breaking the bank necessary. 

• What It’s Like Teaching English In Korea Without Speaking Korean
• Things To Know About South Korean Classroom Culture
• The Reality Of Teaching English In South Korea: What Nobody Tells You