Saturday, August 3, 2013

Climate Change & Food Industry

Climate change may affect food systems in several ways ranging from direct effects on crop production, to changes in markets, food prices and supply chain infrastructure.

There has been a dramatic increase in recent years in the public’s awareness of global climate change, reflecting increasing stridency from the scientific community as new and stronger evidence of climate change is revealed.
The Earth’s climate is constantly changing as a result of natural processes. The atmosphere has an effect like a greenhouse on the Earth’s temperature. The energy from the sun reaching the earth is balanced by the energy the Earth emits to space. Greenhouse gases (GHGs) trap some of the energy the Earth releases to space. The GHGs in the atmosphere act as a thermostat controlling the Earth’s climate. Without this natural greenhouse effect, the average temperature on Earth would be -18˚C instead of the current +15˚C. Therefore, life as we know it would be impossible.
The majority of the world’s scientists studying this topic agree that the current rate of climate change is faster than at any time in the last 10,000 years because of human activity. Human activities affect GHG levels by introducing new sources of emissions or by removing natural sinks, such as forests. Sources are processes or activities that release GHGs; sinks are processes, activities or mechanisms that remove GHGs.
Since the industrial revolution, concentrations of GHGs have been increasing steadily as a result of industrialization (increasing sources of emissions) and deforestation (declining sinks). Between 1970 and 2004 several key GHG emissions, including carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs) and sulphurhexafluoride (SF6), increased by 70 percent. The scientific evidence for this is very solid. In its fourth assessment report since 1990, the Intergovernmental Panel on Climate Change (IPCC) concluded that climate change is already happening and can be primarily attributed to human activity.
Global climate change will have substantial impacts on the environment including water resources, fisheries, forests, wildlife and ecosystems. Regional climate changes, particularly temperature increases, are already affecting different natural systems on all continents and in some oceans. Scientists also predict that climate change will increase climate variability.

Key Predictions
The impacts of global climate change on food systems are expected to be widespread, complex, geographically and temporally variable, and profoundly influenced by preexisting and emerging social and economic conditions.
Some of the key findings of a recent report by Universal Ecological Fund (Fundación Ecológica Universal FEU-US) make for interesting reading. FEU-US is a non-profit, non-governmental organization that seeks to increase awareness that encourages actions on sustainable development issues through researching, analyzing, producing and disseminating information.
Its report, “The Impacts of Climate Change on Food Production: A 2020 Perspective” notes the following:
1. The temperature of the planet would increase by, at least, 2.4ºC above pre-industrial times.
Carbon dioxide (CO2) is the most important man-made greenhouse gas. In 2008, CO2 levels reached 385.2 parts per million (ppm). With current increase rates of about 0.5 percent per year, CO2 levels could reach 410 ppm in the next decade. These levels correspond to greenhouse gases (GHGs) concentrations above 490 ppm CO2-equivalent (all greenhouse gases combined). This equals a 2.4ºC increase in global temperature above pre-industrial times.
2. Two of the three main elements of food production –water and climate— would be most affected by climate change.
Obtaining more land suitable for agricultural production is unlikely. It is therefore water availability (mainly in the form of rain, on which 80 percent of food production depends) and climate conditions, which would most significantly impact food production worldwide, with both positive and negative impacts.
3. The most significant impacts of climate change on food production would be on:
• The tropical region –the region between 30º N and S of the Equator—due to reduced water availability and increased temperatures.
• The temperate region –between 30º and 60º N and S—due to changes in precipitation.
4. Positive and negative impacts of climate change by region include:
• Africa: The region with the most severe expected impacts. About two-thirds of arable land in Africa is expected to be lost by 2025. Decreased rainfall would also impact yields from rain-fed agriculture, with estimations of up to 50 percent in some countries. A combination of increased temperature and rainfall changes would lengthen the growing season benefiting, for example, the production of Ethiopian coffee.
• Asia: The most serious potential threat arising from climate change in Asia is water scarcity. Central and South Asia would experience negative impacts, while the impacts on East and South-East Asia would be beneficial. The two most populated countries in the world would experience different impacts –India with negative impacts, and China with positive impacts.
• Europe: Climate-related increases in crop yields, of about 5 percent in wheat, are expected mainly in northern Europe; while the largest reductions of all crops, of up to 10 percent, are expected in the Mediterranean region.
• Latin America and the Caribbean: Overall yield production of wheat, rice, maize, and soybean is estimated to decrease by 2.5 to 5 percent. The impact of climate change in Latin America’s productive sectors is estimated to be a 1.3 percent reduction in the region’s GDP for an increase of 2°C in global temperature
• Northern America: Overall, decreased precipitation will create important problems for the United States, restricting the availability of water for irrigation and at the same time increasing water demand for irrigated agriculture. This would affect in particular the western region of the United States; some yield increases are expected in the Great Plains.
• Oceania: As a result of reduced precipitation, water security problems are very likely to intensify, and change land use away from drier areas. This would negatively affect Australia in particular, the major food producing country in the region.
5. The amount of food estimated to be produced in the next decade would not be enough to meet the food requirements of an additional 890 million people estimated to inhabit the world in the next decade.
• Global wheat production vs. demand: 14 percent deficit
Countries with expected increase in production: China, United States, Canada and
Argentina. Countries with expected decrease in production: India, Egypt, Russian Federation, Ukraine, Italy, Pakistan, France, Germany, Iran, Romania, Australia, Turkey, United Kingdom, Kazakhstan, Poland and Spain.
• Global rice production vs. demand: 11 percent deficit
Countries with expected increase in production: China, United States, Indonesia, Vietnam, Philippines, Japan, Thailand, Myanmar, Cambodia, Republic of Korea, Lao Peoples Democratic Republic.
Countries with expected decrease in production: India, Brazil, Egypt, Nigeria, Pakistan, Bangladesh, Nepal, Sri Lanka, Madagascar.
• Global maize production vs. demand: 9 percent deficit
Countries with expected increase in production: China, United States, Indonesia, Canada and Philippines.
Countries with expected decrease in production: India, Brazil, Egypt, Nigeria, Russian Federation, Ukraine, Italy, Argentina, France, Germany, Romania, South Africa, Mexico, Hungary and Serbia.
• Global soybean production vs. demand: 5 percent surplus
Countries with expected increase in production: China, United States, Indonesia, Brazil, Canada, Argentina, Vietnam, Japan, Serbia, Paraguay, Bolivia, Uruguay and Democratic People's Republic of Korea.
Countries with expected decrease in production: India, Nigeria, Russian Federation, Ukraine, Italy, Iran and South Africa.
6. As a result of decreased availability of food, prices could increase up to 20 percent. The inevitable consequence would be the increase in the share of hunger, which could reach one in every five people.
The current level of undernourishment in the world is 1 billion people –one in every seven is hungry today. Currently, about 6.5 million children under five die every year of malnutrition and hunger-related diseases –about 18,000 deaths a day.
Within the next decade, these figures could almost double, reaching one in every five people being hungry. At least every other newborn in Africa; one in every four newborns in Asia; and one in every seven newborns in Latin America and the Caribbean would be sentenced to undernourishment and malnutrition.

Impacts on the Agricultural Sector
Agriculture and fisheries are highly dependent on specific climate conditions. Trying to understand the overall effect of climate change on our food supply can be difficult. Increases in temperature and carbon dioxide (CO2) can be beneficial for some crops in some places. But to realize these benefits, nutrient levels, soil moisture, water availability, and other conditions must also be met. Changes in the frequency and severity of droughts and floods could pose challenges for farmers and ranchers. Meanwhile, warmer water temperatures are likely to cause the habitat ranges of many fish and shellfish species to shift, which could disrupt ecosystems. Overall, climate change could make it more difficult to grow crops, raise animals, and catch fish in the same ways and same places as we have done in the past. The effects of climate change also need to be considered along with other evolving factors that affect agricultural production, such as changes in farming practices and technology.
As noted by Dr. Kim Chang-gil of the Korea Rural Economic Institute in a recent research paper, agricultural production is carried out through the selection of crops suitable for the climate of a specific region and application of proper farming methods. Therefore, agriculture is a climate dependent bio-industry with notable regional characteristics.
The publication “The Impact of Climate Change on the Agricultural Sector: Implications of the AgroIndustry for Low Carbon, Green Growth Strategy and Roadmap for the East Asian Region,” was prepared as a background policy paper for the East Asia Low Carbon Green Growth Roadmap project with funding from the Korea International Cooperation Agency (KOICA), under the East Asia Climate Partnership.
“Climate change disturbs the agricultural ecosystem, resulting in the change in agricultural climatic elements such as temperature, precipitation, and sunlight, while further influencing the arable, livestock, and hydrology sectors.”
First of all, the impacts of climate change on the arable and livestock sector are made known by biological changes including the change of flowering and harvesting seasons, quality change, and shift of areas suitable for cultivation. Climate change affects the agricultural ecosystem, giving rise to blights and pests and causing population movement and change in biodiversity. In the livestock sector, climate change brings about biological changes in areas such as fertilization and breeding and also affects the growing pattern of pastures.
Climate change affects the hydrology including underground water level, water temperature, river flow, and water quality of lakes and marshes, by impacting precipitation, evaporation, and soil moisture content. In particular, the increase of precipitation by climate change leads to an increase of outflow while the temperature rise increases evaporation, resulting in the reduction of outflow, Dr. Kim notes.
Negative impacts of global warming include reduced crop quantity and quality due to the reduced growth period following high levels of temperature rise; reduced sugar content, bad coloration, and reduced storage stability in fruits; increase of weeds, blights, and harmful insects in agricultural crops; reduced land fertility due to the accelerated decomposition of organic substances; and increased soil erosion due the increased rainfall.
In addition, each crop requires different climate and environmental conditions to grow. So, if climate change like temperature rise occurs, the boundary and suitable areas for cultivation move north and thus the main areas of production also change. The change in the main areas of production might be as a crisis for certain areas but might be an opportunity for other areas, so it cannot be classified either as a positive or as a negative impact.
“In sum, the impacts of climate change on the agricultural sector have ambivalent characteristics of positive impacts creating opportunities and of negative impacts with costs. Therefore, it is very important to formulate adaptation strategies that can maximize the opportunities and minimize the costs that will lead to sustainable agriculture development.”

Food Industry
Beyond the physical impacts of climate change lie a range of market risks and opportunities that are being driven by changing consumer preferences, supply chain demands and government policies – all in response to the challenge of climate change.
Consumers are becoming increasingly interested in the environmental credentials, amongst other things, of the food and beverage products they buy. This is consistent with a broad and global trend in which consumers are demanding higher standards of quality, transparency and accountability in food and beverage products. This trend can only continue.
As a consequence food-processing companies have to take the effects of emissions from their operations on climate into account.
This may be achieved by energy conservation and substitution of fossil fuels with renewable energy sources in the day-to-day running of their operations. In this context the ideas and concepts proffered here apply mainly to small and medium sized enterprises.
It is worth noting as well that investment in applications to achieve significant energy reduction requires speedy pay back as most companies now have to contend with cutthroat competition due to the financial crisis worldwide and indeed the continuing recession.
Climate change as a result of human activity further exacerbates the problem and now directly affects the development of existing and new food processing facilities. The renewal of existing facilities in energy conservation terms by ‘retro-fitting’ largely depends on what has gone before whereas the planning of new facilities in terms of location, construction design, utility requirements such as energy, water utilization / waste management and packaging recycling can be more strategically planned.
In dealing with the emerging issue of climate change and its potential negative consequences manufacturers have now to be much more proactive. Previously manufacturers that were proactive in the area of utility savings over the past 30 years did so primarily for economic or bottom line reasons.

What can be done?
As noted by Dr. Kim in his paper, in order to accomplish green growth in the agricultural sector, we should create an innovative way to turn inconvenience into a growth engine by leaving existing convenience and inertia behind, and by achieving a shift in thinking among relevant parties, to ensure that inconvenience and hazard can be properly managed.
“For this to happen, an amicable atmosphere should be created with a bold paradigm shift, where the suggestion of various ideas and active discussion can take place.”
 First of all, he notes, it is urgent that we come up with an implementation strategy that allows us to maintain the unique characteristics of agriculture as a green industry, and thereby eventually achieve green growth by actively developing public functions, such as atmospheric purification and environmental protection through agricultural production innovation and clean technology.
“It is particularly necessary to establish green governance where all farmers, relevant organizations and policy makers concerned can work together, where a strong will to implement green growth and an effective execution system are required to accomplish green growth. However, the policy to promote environmentally friendly agriculture itself is not enough to ensure an assured transition toward a low-carbon agricultural system, but reorganization of the overall agricultural system is needed.”
 Above all, agricultural policy and low-carbon environmental policy should be properly integrated so that the concept of green growth in the overall agricultural sector takes root. In order to maximize the policy effectiveness through a proper combination of policy instruments in various relevant sectors, a green innovation system should be established where policymakers, researchers, relevant organizations, farmers and other relevant bodies can have proper understanding of green growth and share their roles.
In addition to that, Dr. Kim observes that a systematic stage-by-stage strategy to develop technology should be devised and implemented on a steady basis so that green technology reduction or absorbing of greenhouse gases in the agricultural sector can be utilized as a growth engine.
“When green growth in the agricultural sector is successfully implemented, agriculture will solidify its position not only as a green industry that manages national land in an environmentally sustainable manner but also as a life industry that supplies safe agricultural products and manages national greenhouse gas emissions.”
As for the food industry, the key is to be prepared. The findings of a report: “Impact of Climate Change on Tasmania’s Food and Beverage Industry” prepared by Pitt & Sherry could equally hold for the food industry across the world.
It notes that the industry needs to be first aware of the likely consequences, physical and financial, of climate change.
“At a minimum, or as part of a risk assessment process, businesses should document their ‘carbon footprint’ and understand the extent to which that footprint creates risks and/or opportunities for their products. Assessing these risks and opportunities requires a market-by-market approach, particularly for exported produce.”
For those businesses with a low carbon footprint, or the ability to achieve this cost effectively, there may be market advantage in disclosing this information to consumers or supply chain partners. The attractiveness of this will depend in part on product positioning and the prospects for gaining market premiums.
“For all businesses, there is almost certainly advantage to be gained by reducing their greenhouse emissions to the greatest extent possible: the business case should consider not only direct exposures, such as energy and transport costs, but also supply chain linkages, future policy settings, market risks and corporate/brand positioning.
Where a high standard of proof is required – whether to meet market, legal or corporate expectations – full life cycle assessment of a product’s environmental characteristics may be justified. Despite the availability of software tools to assist with this process, it can involve significant costs. A risk-managed approach might therefore see such assessment reserved for products believed to possess above-average exposure or, conversely, potential to attract premiums. Assessments could be undertaken on behalf of a whole industry or product class by the relevant industry association.
As the information that such assessments will bring to light will also be valuable to governments, to help identify needs and opportunities for targeted assistance and/or investment promotion, there is a prima facie case for government support for this work. At the same time, businesses must remain accountable for determining their own response to climate change and accept the consequences should they choose not to engage actively in managing the issue, the report notes. 


Sunday, July 28, 2013

Public Transport policies in Korea

First published in The Hindu Business Line, July 25th 
Korea’s traffic policies, beginning with the reform of its public transportation system, and integrated use of information technology, has been acknowledged for its effectiveness and benchmarked by many other countries.

The transport network in Seoul is famed for its impressive standard of operational capacity and efficiency, and for incorporating the latest technology to make commuting convenient.

Before the public transport reforms of 2004, the bus system in Seoul faced severe problems as few people used it, leading to a deficit, that affected the quality of service. The reforms introduced an integrated operation system along with Bus Rapid Transit.

The government introduced what it calls a ‘quasi-public operation system’, under which it manages buses and routes that private companies own and operate, and reimburses bus companies on the basis of kilometres of service instead of operational revenue from passenger trips.

As observed by Lee Jae-joon, Associate Research Fellow, Korea Transport Institute, the most significant change, however, was the application of information technology in bus operations.

IT Innovation

The system than it is in place today enables real-time management of bus operation information and punctuality, and prevents reckless driving. In addition, the Transport Operation and Information Service (TOPIS) functions as a comprehensive traffic management center that gathers and processes all traffic information.

This enables buses to run at definite intervals. The installation of GPS devices on board allows traffic control centres to determine the real-time location of running buses. It helps avoid having buses on the same route running in groups.

“From the passengers’ point of view, it is an innovative service because they can expect buses to arrive within a definite time. Also, a communication system between traffic control centers and drivers was established for quick responses in the case of emergencies,” he noted.

With the rapid spread of smartphones, it is easy to access public transport information by using smartphones. Recently, heating systems were introduced at bus stops, keeping passengers waiting for a bus warm. In addition, ‘U-Shelters’, highly technology-intensive places, connecting IT and weather/air sensors, have been established.

Among other things, these shelters provide useful information on the local area and stores, weather and air quality as well as bus arrivals. There is an interactive kiosk, called ‘Digital View’, at almost every major bus stop and subway station. The kiosks are provided by Daum, a major Korean search portal. The screens display a subway map, a satellite map service, nearby attractions as well as news and entertainment content. It also has a VoIP service (voice over Internet Protocol).

In addition to the digital kiosks, there is a growing number of digital billboards, advertisements and commercial displays, many of which are interactive and touch-screen capable.

Another innovation is the introduction of the smart card system for electronic payment of public transport fares — bus, subway, taxi, etc — and charges for facilities such as parking lots.

The card creates benefits, such as the reduction in waiting time at bus stops and transparent accounting of bus operations. More importantly, as Lee points out, along with the bus reforms, Seoul has an integrated public transport system for subways and buses. Under this new system, fares are based only on distance travelled, regardless of the transport mode

Integrated system

Besides the capital, Seoul, there is also a national integrated transport system that improves the efficiency, integration and connectivity of the network. All expressways in Korea (total length 3,906 km) are equipped with a variety of Integrated Transportation System (ITS) services, including traffic management, public transport service, electronic payment, traffic control centers and traffic information.

ITS currently provides a basic information broadcasting service, incident management service, and freeway traffic flow control service. The traffic management service collects data from roads and running vehicles, controls the traffic flow, and provides travelers with traffic information. Based on real-time information, road users can make a decision on the choice of route to their destinations, alleviating traffic congestion and increasing average speeds.

The automatic traffic enforcement service encourages lawful driving and monitors traffic light violations, speed limit violations, illegal parking, overloading, and bus-only lane violations.

Korea has also introduced an electronic toll collection system, Hi-Pass, which allows drivers to pay highway tolls without stopping. This has been a boon for drivers while improving the efficiency of toll collection.

The Hi-Pass system has been installed at 344 tollgates in South Korea. Currently, 5.6 million vehicles — 50.8 per cent of registered cars — use the non-stop toll payment system.

Korea: Speeding on the IT, communications superhighway

First published in The Hindu Business Line, July 25th
Korea has one of the world’s most active telecommunications and information technology markets backed by strong support from the Government.

No surprise that Korea was ranked No. 1 among 152 countries surveyed in the ICT Development Index of the International Telecommunication Union in end-2012.

The data rank Korea as the world’s most advanced ICT economy for the sixth year in a row followed by Sweden, Denmark, Iceland and Finland. The index is aimed at assessing ICT development routes, digital gaps and growth potentials of each country. The ranking is proof of the Korean Government’s efforts over the years to improve its regulatory environment and to promote policies to advance IT infrastructure.

Korea is one of the fastest growing ICT markets globally with advanced infrastructure and active consumers who adopt new technologies and products quickly. ICT accounts for 17 per cent of Korea’s GDP and 40 per cent of its total exports. The country ranks among the top countries in Internet usage. More than 80 per cent of the population uses the Internet. Practically everyone has a mobile phone and 95 per cent of the households subscribe to broadband Internet.

Today, ICT has changed the way Koreans live. A mobile handset is an essential. All model houses are wired and come with broadband Internet connection. Korean companies, with the support of the Government, are slowly strengthening their position in the global market and consolidating their market share.

Telecom

The telecom market in Korea is fascinating because it is a world mobile leader on many fronts. Korean mobile operators are among the first in the world to offer third- and fourth-generation services. Even as the rest of world is struggling to deploy 3G networks, plans are now on to roll out upgraded 4G services by the second half of the year. Dubbed LTE-A, the new network will offer a significant upgrade from the fourth-generation LTE and will be the first time that a wireless network exceeds the optic local area network (LAN) in data transmission speed.

Korea continues to be a booming mobile market as it innovatively explores the options for value-added services. The market passed the 105 per cent penetration rate mark in 2011, which means many individuals carry more than one mobile phone. According to the latest data, the number of 4G (Long Term Evolution-LTE) smartphone users has surpassed 21 millionand is likely to reach the 32-million level by the year end. This accounts for close to 40 per cent of the total mobile subscribers in the country, and in a country where four out of 10 people use smartphones, the mobile carriers are ramping up efforts to claim a bigger share of the fast growing market.

It helps that Koreans have a fetish for changing their mobile phones every six months. In fact, the country was positioned at the top in terms of mobile phone replacement rate, according to a survey by Strategy Analytics that was conducted in 88 countries worldwide.

Broadband

Where many countries are being challenged with the tasks of improving and making good use of ICT, Korea is known for its rapid and extensive deployment of broadband. The country’s success is due to the far-sighted government initiatives, where strategies put in place are mindful of the point that ICT infrastructure development must be accompanied by investments in the eco-system.

The extensive role of the government in creating demand in broadband through policies is considered as the most remarkable characteristic of Korea’s broadband growth, according to Ahn Jung-mihn of Hallym University,

“The strong bureaucratic approach in the beginning changed to a light-handed approach as the government invited more private sectors participants,” he pointed out.

To build up critical mass, the government initially pushed for an extremely low price for the public sector and free Internet service for schools. The result was a strong pick-up in information technology by the general public in tandem with the education policy.

Market demand further spurred service providers to offer lower prices along with ICT literacy drive across the entire population.

Currently, Koreans have many technology options for broadband in most areas of the country. The most popular connection technology is XDSL followed by Cable connections, LAN and wireless technologies. This strong inter-modal competition has brought down prices and introduced technologies that can serve remote areas. As telecom drove a positive impact on national competitiveness, the government recognized the future needs of a ubiquitous network and more management strategy.

“This interest was reflected in the IT839 Strategy, which is deemed as the most significant strategy in Korea’s overall broadband policy. Under this policy, eight new IT services were introduced to encourage investment in three key network infrastructures that, in turn, promoted the development of nine new growth engines,” noted Prof Dong Hee-shin, Department of Interaction Science, Sungkyunkwan University.

Having completed the first two phases successfully, the government established the ‘Plan for Developing and Promoting Giga-Internet’ that will enable users transmit data at an average speed of 1 gigabyte per second (GBp) through fixed-line connections and maintain a rate of 10 megabytes per second (MBps) on wireless connections, by this year.

Information Technology

The strength of the Korean IT industry has emerged from foresight, product development, and marketing by Korean companies, along with close cooperation with the government. Business government collaboration targeted promising areas for investment and policy support, noted Lee Chi-ho, Senior Research Fellow, Samsung Economic Research Institute.

Anticipating huge growth in LCD panels, Korean firms made massive investments that gave them a strong position when the panel market was ready to take off. Such investments made it easier for Korean firms to rapidly gain ground, in contrast to analog TV, where Korean firms lagged behind their entrenched Japanese counterparts.

By betting heavily on digital TVs, Korean firms were able to outflank their competitors, and exploit the transition to digital broadcasting. The Korean IT industry also focused on large screens and lower operating costs by aggressively investing in LCD panel production facilities. This gave Korean firms an advantage against Japanese companies, who initially focused on high-end, high-definition TVs that failed to reach global consumers. “In semi-conductors, Korean chipmakers raced ahead of their rivals by sustained investment even during contractions in the IT business. Through strenuous efforts to improve production and increase output, Korean companies were able to take the lead in semiconductor miniaturization and price competitiveness.”

In addition, shortened product development cycles and innovations in supply chain management gave Korean makers the flexibility to respond to sudden market changes. Above all, Korean companies developed brand power in emerging economies through diverse marketing and social contributions.

Cost of living for students in Korea

First published in The Hindu Business Line, July 25th 
South Korea is increasingly seeing international students flocking to its universities for undergraduate, graduate and research programs. There are about 400 national and private universities, some of which have research facilities in several emerging scientific fields.

With many scholarship options available, more Indian students are choosing to study in Korea and the community is slowly increasing in size.

While most choose universities in Seoul, there are also a few who consider other reputed organizations in Daejon, Gyeonggi Province, and Busan.

If you have got admission to a university in Seoul, undoubtedly the first question that pops up in your mind would be the cost of living. While it is true that Seoul is an expensive city, it is still cheaper than most popular student destinations in Europe, Australia and South-East Asia.

Accommodation options

It is ideal to be able to stay on campus in a dormitory, which most scholarships provide for. However, one may also explore options of living outside the campus in a one-room flat or boarding house for students, which will cost more.

While the monthly rent for a 900 sq. ft. furnished apartment in an expensive area of the city is around 2.5 million KRW (1$=1,100 KRW) with a deposit of 10 million KRW, smaller accommodation near universities that cater to students is much cheaper. On a sharing basis, you might have to shell out 300,000-500,000 KRW per month with a deposit of 5 million KRW. Utility bills — gas, electricity, Internet — will put you back by an additional 60,000-100,000 KRW.

Quick public transport

South Korea has a well-developed public transport system with a metro and bus system that is convenient and quick. The basic fare on public transport is 1,150 KRW, and Taxi is 2,400 KRW. It is best to get a travel card (T-card).

Most Korean food is non-vegetarian but one can also find vegetarian food, other international food, fast food as well as Indian restaurants. University campuses have canteens at reasonable rates. Simple Korean meals in small restaurants will cost you around 6,000-10,000 KRW. The University cafeteria may charge you 2,500-3,000 KRW.

Fancier meals may cost about 20,000 KRW and if you are a coffee addict you will have to spend 4,000-5,000 KRW more.

In bars, a bottle of beer is 7,000 KRW and a cocktail is about 10,000 KRW. The cheaper option is buy your beer at convenience stores, where a Korean beer will cost around 1,500 KRW, and imported beer will be double the cost.

Grocery prices

As in most developed countries, the price of daily commodities is high compared to India. If you plan on doing your own cooking, vegetables prices are seasonal but can be expensive depending on the place of sale.

Here’s a quick rundown of the prices of some basic items. A loaf of bread costs 2,500 KRW; a litre of milk: 2,800 KRW; a dozen eggs: 3,500 KRW; 1 kg tomatoes: 8,000 KRW; 1 kg potatoes: 3,000 KRW.

Toothpaste costs around 3000 KRW; shampoo: 7,000 KRW; 1 box of 32 tampons 10,000 KRW, deodorant: 7,000 KRW (very hard to get since Koreans hardly sweat and do not use deodorants);a men's haircut: 10-15000 KRW. Traditional barbershops are cheaper at 6,000 KRW, but are now getting extinct.

A movie ticket on weekends will put you back by 9,000 KRW. But there are many affordable options to sightsee and spend your holidays.