South Korea won't make anyone's list of Eight Best Places to Retire in the World, but if you have a highly developed sense of adventure, you might well want to look into it as a retiree haven. South Korea, in fact, might be one of the last undiscovered havens of its kind.

Of course, South Korea is known as one of the leading producers of the latest technology, but it is also a place of great natural beauty and, contrary to what you may have heard, a friendly, welcoming place to foreigners who meet Koreans halfway. Additionally, according to the website Expat Info Desk, Korea is a very hierarchical society, and respect for older people is much more important than in our own society.

There are expats here, even American ex-pats. So don't expect to be the first. And it is a thriving, modern country where you can find bargains. The cost of living is definitely below that of the U.S. For example, when you read on the web (as you could recently at Numbeo) that it costs 40,000 South Korean Won for a three-course meal for two at a mid-range restaurant, keep in mind that that equals a little less than $37.00.

South Korea is a country dominated by one city – Seoul – which is much larger and more modern than the rest of the country. Nevertheless, Seoul is less expensive than similar cities in Japan or when compared to Hong Kong.

According to the blog Retire In Asia, in South Korea, Eating out is the norm, with few Koreans cooking for themselves at home. Because of this, food is inexpensive and incredibly easy to find, with noodle stands and small independent restaurants on almost every street corner. In case you haven't tasted much Korean food, it's well worth exploring, combining, as it does, a bit of Japan and a bit of China with its own distinctive cuisine. Kimchi, a concoction of pickled vegetables and spices, is Korea's gift to world cuisine, and can be added to any dish to brighten it up.

A three-bedroom apartment outside the city center of Seoul would rent for under $1,900 a month, also a recent figure according to Numbeo, which has gathered this information over the past 18 months from hundreds of contributors. And being outside the city center could be pretty convenient. Korea has an excellent transportation system; sometimes cabs are even cheaper than public transit.

Expatriates should be aware that prices do vary significantly according to location and the larger cities such as Seoul and Busan have much higher property prices and rental costs than the more rural areas. The next largest city after Seoul, the port of Busan has some beach areas, international hotels and guesthouses for tourists, but is less cosmopolitan than Seoul. The third-largest city, Incheon (formerly known as Inchon), is also a port, quite near Seoul, and was designated in 2003 as the country's first free trade zone, which has made it attractive to numbers of international corporations. Its conference facilities are well developed, and it is heavily used for international business meetings and regional events.

Studying the Korean language (the written system is called Hangul) before you go will pay dividends, as all the signs (traffic and store) are in that language. There will be people who speak English in big cities like Seoul and Busan, but not many. There is currently quite a high demand for native English speakers in South Korea and many expats opt for jobs teaching English as a foreign language. That could be a way to supplement your retirement income.

If you are counting on Social Security as a major of your income, be sure to work out how you will receive payments before you go. Although the U.S. has waived in principle the main restrictions that were long in place for payments to South Korea, the two governments had not worked out all details as of spring, 2015. You may need to have payment made to you through the U.S. Embassy, for instance, and go to pick up your check there every month. Similarly, pay close attention to visa issues. While some countries give retirees a particular visa status or permanent residency, that may not be the case in South Korea unless you meet special considerations.

South Korea has a temperate climate, although the winters should not be so described. They tend to be long and very cold; "raw" is a common description.

What's really convenient in South Korea is staying in touch with the rest of the world. Internet speeds, even in the most remote areas, are faster than most visitors have ever experienced in their home countries. Mobile phone networks are also extremely advanced compared to the rest of the world, according to Retire In Asia.

If you'd like to retire somewhere that is every bit as modern as any western country (maybe even more so), yet a bit less expensive than the U.S., and if year-round pleasant weather and grand beaches are not of paramount importance, look into South Korea. Expat Info Desk has a guide to Seoul online which includes a great deal of information.

While you are making up your mind, you may want to read Savings Needed to Retire Abroad and Retirement: U.S. Vs. Abroad, as well as Find the Top Retirement Cities in Viet Nam and Retiring in The Philippines: Pros and Cons.