I wouldn't trust that number.

The USD has been going real strong these past few months, so that's going to deflate the price in USD. Applying a more historically consistent exchange rate of 1,200 KRW to 1 USD, it comes to around 787 USD.

Then again, that price in KRW has to be bunk. Monthly rents in Seoul are actually even cheaper than that. You can rent places like these for a monthly rent of 500-700K KRW in Seoul(the title of the video translates to "The realities of 500-700K KRW monthly lease properties in Seoul"). You'd have to go to some really expensive neighborhoods to have a rent to that high, but really expensive neighborhoods tend not to have apartments like what's shown on the meme.

While the real estate PRICE (to purchase) in Seoul is New York levels of insane (apartments in Seoul can go over 1 million USD, easy) monthly rent payments have been artificially reduced by an alternative leasing scheme unique to ROK called 전세(Jeonse) that is subsidized by the government. While this contributed to lower average monthly rent payment, this effectively subsidized an unhealthy sort of risk-taking in terms of real estate investments and contributed to an inflated housing market. Of course, that is a giant can of worms that I won't really open on reddit, so I'll speak no more of this.