How much can I save? What is the cost of living?	http://www.hoyaenglish.com

Benefits: 
         ~Your housing is provided free.
         ~Your airfare to Korea is reimbursed to you on arrival.
         ~If you complete 12 months work you get 13 months pay.
         ~Tax rates are exceptionally low .
         ~If you work 12 months you get your return airfares paid for you.
         ~Everyday food and transport is extremely cheap.
         ~Your housing is usually very close to your school making your daily transport costs minimal or nil and your

            travel times to and from work small.

Costs:
         ~You must pay apartment utilities of $50-150US a month.
         ~You may need a cell phone to survive.
         ~Foreign food outlets are very expensive (except McDonald's and KFC).

Usually most people can live on 400,000-600,000 won a month, thus saving at least $1000 US a month. 

General taxes are about 5% and compulsory. Many employers try to avoid the 4.5% compulsory pension tax. If you get both taxes taken correctly it is about 9%. Do not jump for joy and consider you are saving more if your employer takes no tax from you or only 3-5%. It may be reassessed later at the correct rate!!

Do not judge any job offer on the basis of tax, because tax laws are the same for every school and legally every employer is expected to tax you correctly. If a job offer is saying 'no tax' it is breaching the law unless they are a university or government institution with special tax exemptions for foreigners.

Currency conversion rates tend to go up and down according to world events and this in turn makes it difficult to give accurate savings and costs at any particular time. However, it is always cheap to live well in Korea.