I get 2.2 million won a month (currently US $1,764), plus free furnished apartment, free food at school, and free round trip air fare. It's cheap to live in Korea and you can set up deals with local restaurants where you pay for a month and get meals for about 80 or 90 US cents a meal. And if you work in Korea for 12 months, they're required to pay you for 13.
The tax is between 3-7% including medical and it's mostly refunded if you're not Canadian.
That's enough for me to make huge payments on my low interest credit cards and still live a comfortable lifestyle.
It's about the same as you, farqhuar, but with little or no taxes, and a chance to live overseas, it's worth it to me.