Sizing a renovation quote from a per-pyeong rate
Korean renovation quotes are discussed per pyeong. Dividing the exclusive floor area by 3.3058 gives the pyeong figure, multiplying by the rate gives the construction cost, and adding ten percent VAT brings it close to what is actually invoiced.
The rate depends heavily on scope. Light work centred on wallpaper and flooring runs near 1.2 million won per pyeong, including the kitchen and bathroom takes it to around 2 million, and a full job with window replacement and structural changes starts above 3.5 million.
These figures are a baseline for judging scale. Real quotes vary widely within each band according to material grade, region, the age of the building and whether there is a lift. If you already hold a quoted rate, enter it directly to see the resulting total.
What to check on the quote
Establish whether VAT is included. A rate of 2 million won per pyeong quoted before VAT actually costs 2.2 million, which adds about 6.8 million on a 34-pyeong flat. The contract should state which it is.
Demolition and waste disposal are frequently missing. Removing existing fittings and paying to dispose of the debris are usually billed separately, and the older the property the larger those items become.
Additional work surfaces after signing. Opening a wall to find corroded pipework or a hidden leak is the classic case. Without ten to fifteen percent of the budget held in reserve, you lose your options midway through the job.
Which area figure is being quoted
Exclusive area and supply area differ. An 84 m² flat is about 34 pyeong of supply area but only about 25.4 pyeong of exclusive area. Renovation should be costed on the exclusive area, since that is what is actually worked on.
Per-pyeong rates need the same basis before they can be compared. A contractor quoting against supply area shows a lower rate for the same total, so align the basis before putting two quotes side by side.