In this article, we will take a look at the 5 best places to retire in South Korea. If you wish to check out our detailed analysis on South Korea’s economic transition, you may go to 12 Best Places to Retire in South Korea.
5. Andong
Insider Monkey Score: 8
Retirees who value tradition, culture, and natural beauty can choose to retire in Andong, South Korea. Also called the “Capital of Korean Spiritual Culture;” Andong is famous for its festivals and culture, depicting a heritage from every period of Korean history. It is also home to Hahoe village, a UNESCO Heritage Site famous for its ancient traditions and thatched-roof houses. The city enjoys a relaxed pace of life, hosts various festivals throughout the year, and offers delectable local cuisine such as Jjimdak and salted mackerel. On average, the monthly cost of living for an individual retiree in Andong is $1,200.
4. Gyeongju
Insider Monkey Score: 9
Known as the “Museum without walls”, Gyeongju is revered for its rich historical heritage. It is home to numerous UNESCO Heritage Sites, historic relics, royal tombs, pagodas, temples, rock carvings, and palace ruins; providing retirees with the perfect chance to relish Korea’s history. Apart from being the residence of Silla rulers for more than a thousand years, the city is also revered for its coastal lifestyle. There are many beautiful parks, lakes, and gardens to relish as well. The city also boasts modern healthcare facilities, is home to several educational institutions and universities, and offers a laid-back lifestyle to those who choose to call it their home. On average, the monthly cost of living for an individual retiree is $1,334.
3. Jeonju
Insider Monkey Score: 10
Jeonju is another one of the best places to retire in South Korea; revered for its cuisine, natural beauty, and cultural heritage. While the food scene is pretty vast here, expats will find themselves ending up with a lot of bibimbap, a beloved Korean dish; and chocopies. The city also allows retirees to glimpse into Korea’s cultural heritage through its well-preserved Hanok village: a cultural village featuring traditional Korean Hanok houses, calligraphy & sake museums. Retirees can also enjoy themselves and try hiking, biking, and other activities in the nearby mountains and countryside. On average, the monthly cost of living in Jeonju is $1,200.
2. Seoul
Insider Monkey Score: 12
Seoul, the capital of South Korea, is a fascinating mix of contemporary and modern living. Buddhist temples, palaces, and pagodas go hand in hand with the city’s modern skyscrapers and high-tech subways. Some of the best hospitals and healthcare clinics in the country can also be found in Seoul. The largest concentration of expats in the country are also here. The cost of living is the highest in Seoul than most other places in the country. On average, the monthly cost of living for an individual retiree is $1,406, which includes $794 spent on rent.
1. Incheon
Insider Monkey Score: 13
Bordering the capital city of Seoul, Incheon is home to an ultra-modern international airport, beach-lined islands, and even waterfront promenades. The city also boasts the country’s largest and oldest Chinatown; vibrant with Asian architecture, delectable cuisines, and many shops. Retirees love to shop on Triple Street: a modern entertainment and shopping complex. There is a large urban park with a zoo, walking trail, and botanical garden called the Incheon Grand Park. Blessed with a coastal lifestyle, Incheon is an ideal place for those looking for the best of amenities, safety, and culture. On average, the monthly cost of living for an individual retiree is $1,082.
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