Again, the cost of living varies depending on whether you live in a urban or rurual area. Here are some cost estimates for living in a larger South Korean city (in South Korean Won):
Most apartments in Korea are equipped with a kitchen, so preparing your own food is normally the cheapest option. If you eat at home everyday then expect to pay about 250,000 per month.
Restaurants - expect to pay between 7,000 - 12,000 per person.
Electricity, water, TV and gas - approximately 70,000 per month, although this can vary depending on your lifestyle.
Internet connection - approximately 30,000 monthly.
Haircut - 7,000 for a man and about 60,000 for a woman.
Books - relatively expensive, from around 10,000 to 20,000 Won.
Buses - The bus system in the cities is pretty good. Expect to pay about 700 for a 20 minute journey. In Seoul there are two types of buses: local buses and long distance buses. Local buses cost about 450 Won for a journey and long distance buses within the city will cost you about 700 won. When you pay for either type of bus, the cost is the same no matter what distance you go. e.g. if you go one stop away or 20 stops away you will pay the same price.
Taxis - Starting fair is between 1300-1600 and the about 500 for every KM after that.
Subway - There are subway systems in Seoul, Pusan and Daegu. The Seoul subway is very good and efficient. The price is 700 for most distances but if you travel to one of Seoul's outer cities it could cost you as much as 1400 won. When planning your trip on the subway it is useful to know that it takes about 2 minutes to travel between each stop.