The most expensive apartments in Korea are in exclusive Seoul complexes like Eterno Cheongdam and Nine One Hannam, with recent transactions and published prices exceeding 20 billion KRW (around $14.5 million USD), featuring celebrity residents and ultra-luxury amenities like private car lifts, setting new records for individual unit sales. Eterno Cheongdam holds the record for the highest published price for a single unit at over 20 billion KRW as of early 2025, while Nine One Hannam saw a record sale of 20 billion KRW in mid-2024.
The Penthouse Cheongdam has ranked as the most expensive apartment complex in Korea for four consecutive years, according to the latest housing price chart released Tuesday by the Ministry of Land, Infrastructure and Transport.
Hannam-dong. Hannam-dong (Korean: 한남동) is a wealthy dong (neighborhood) of Yongsan District, Seoul, South Korea.
A new survey finds Seoul is the world's most expensive city for nightlife and entertainment, while exclusive districts also house South Korea's wealthiest business families.
Housing costs in South Korea
Seoul remains the most expensive city in South Korea to settle in, with monthly rent for a one-bedroom apartment in the city center averaging 910,000 KRW (approximately $660 USD as of June 2025).
Weekly Work Limit: 52 Hours
Despite the 40-hour workweek cap, South Korea's labor law permits employees to work more than 8 hours in a day without violating the law, as long as the total weekly working hours do not exceed 52 hours. This system gives businesses flexibility.
In central Seoul, a new 3-bedroom apartment (called "apateu" locally) can easily exceed ₩1.2 billion ($900,000). But if you look in suburban Gyeonggi-do, you might find similar homes for ₩500–700 million.
Celebrities are attracted to Hannam because of the privacy and security offered in the hills around Namsan Park, as well as access to the park and its views, according to Quek.
BTS member V aka Kim Taehyung has bought a luxury apartment worth 14.2 billion KRW (about $10.3 million). The Penthouse Cheongdam (PH129) reportedly holds the most expensive penthouses in South...
Gangnam - the affluent one
We've all embarrassed ourselves immensely whilst dancing to the K-pop classic, but you may not know that “Gangnam Style” refers to the lavish head-to-toe luxury that is the definitive way of Seoul's poshest neighbourhood.
According to a study by the Korea Labor Institute, wealthy income earners in Korea earn 120 million won a year. Those who are extremely wealthy - or who have earnings in the top 0.1 percent - make an average 360 million won annually. The average income of the top 5 percent is 68.4 million won.
The Gangnam area, which includes Gangnam-gu, Seocho-gu, Yongsan-gu, and Songpa-gu, is one of the richest neighborhoods in South Korea.
Many of the wealthiest residents are concentrated in the three Gangnam districts including Seocho, known as Gangnam School District Eight (강남 8학군).
Designed to the highest residential standards and enhanced by exclusive Executive Club Lounge access, it stands out among luxury penthouses in South Korea.
Traditional Korean Housing
Goshiwon (tiny rooms): ₩300,000-700,000 ($225-525) Studio apartments: ₩500,000-1,200,000 ($375-900) 1-bedroom apartments: ₩800,000-2,000,000 ($600-1,500) 2-bedroom apartments: ₩1,200,000-3,000,000 ($900-2,250)
Kim Taehyung — who is currently enlisted in the military — is the richest BTS member in 2024. According to Times Now, V has an estimated net worth of $40 million. Kim Taehyung's significant wealth is attributed to not just BTS' success as a group, but also his solo endeavours.
One of the most expensive residence complex in Seoul. The deposit price starts from 50 thousand dollars to 2 million dollars with monthly price between 4 to 20 thousand dollars. It's located in about 20 minutes walking distance from Hannam station.
Jimin resides in the Nine One Hannam complex, one of the most prestigious and highly expensive neighborhoods within Seoul in South Korea. This is a complex home to a good number of famous K-pop artists, including members from the globally renowned K-Pop group BTS.
What can 50,000 won buy in Korea? In South Korea, 50,000 won can cover different costs depending on what you need. This amount might pay for several meals at average restaurants or one or two meals at fancier places.
For South Korean Landlines:
Dial 011 – This is the US exit code. Dial 82 – The country code for South Korea. Dial the area code – Without the leading 0. Dial the local number – Usually 6 to 8 digits.
In 2021, IU, aka Lee Ji Eun, purchased a palatial penthouse at Eterno Cheongdam, a 20-storey luxury residential tower in Seoul, South Korea. According to The Korea Herald, IU bought the 2,600 sq ft apartment for $11.7 million (approximately Rs 97 crore).
Is It Expensive to Live in South Korea? South Korea has a lower cost of living than the United States. This is due, in large part, to the lower rent prices in South Korea. Taxes may be higher in South Korea, but the taxes will help cover more of your medical expenses.
Yes, foreigners can buy property in South Korea, but the process has changed dramatically. As of August 2025, buying in the Seoul metropolitan area requires government approval and a two-year residency commitment, making it much harder.