What is the Average Cost of Living in South Korea per month/year?

Overall the average cost of living in South Korea is quite inexpensive when factors such as housing and basic monthly costs are considered. To rent a one bedroom apartment in the city is just over $550 with a 3 bedroom apartment about twice that much. Gasoline is expensive but travel by public transport is fairly cheap with a monthly pass costing under $40. Food and clothing compare very favorably with western countries and basic utilities are about $90 a month.