August 08, 2007	Wednesday	Rajab 23, 1428

SINGAPORE: Seoul remains the most expensive place to stay in Asia for expatriates due mainly to the stronger won, while living costs in Japan have eased because of a weaker yen, a survey released on Tuesday showed.

Seoul, which retained its ranking as Asia's costliest city from last year, ranked seventh globally, human resources firm ECA International's cost of living survey showed.

Within Asia, Tokyo placed second followed by Yokohoma, Kobe, Hong Kong and then Taipei.

Rounding up the top 10 rankings were Beijing in seventh spot followed by Shanghai, Singapore and Jakarta.

“As the Korean won gets stronger and the yen gets weaker against most other major currencies, the cost of living differential at the top is widening,” said Lee Quane, the general manager of ECA International.

The stronger won has seen foreign expatriates living in the South Korean capital paying 10 per cent more for the same items compared to their counterparts in Tokyo, he said.

Compared to five years ago, expatriates in Tokyo paid 35 per cent more for basic goods and services than those who were in Seoul, he said.—AFP