1,220,000 원 income tax calculator 2025 - South Korea

Salary rate

Annual

Month

Semimonthly

Weekly

Day

Hour

Withholding

Salary

1,220,000 원

Income Tax

- 15,135 원

Local Tax

- 1,513 원

National Pension

- 54,900 원

National Health Insurance

- 47,873 원

Employment Insurance

- 10,980 원

Total tax

- 130,401 원

Net pay

* 1,089,599 원

Marginal tax rate

10.7%

Average tax rate

10.7%

89.3%

Net pay

10.7%

Total tax

Net pay

The Taxberg

1,089,599 원

Net pay

233,313 원

Tax the employer pays

130,401 원

Tax you pay

Total tax paid

363,714 원

Did you know your employer also pays tax on your salary? It costs the employer 233,313 원 to pay you 1,220,000 원. In other words, every time you spend 10 원 of your hard-earned money, 2.98 원 goes to the government.

Real tax rate

25.0%

So, with you and the employer both paying tax, what used to be a 10.7% tax rate now rises to 25.0%, meaning your real tax rate is actually 14.3% higher than what it seemed at first.

587 원 hourly is how much per year?

Summary

If you make 1,220,000 원 a year living in South Korea, you will be taxed 130,401 원. That means that your net pay will be 1,089,599 원 per year, or 90,800 원 per month. Your average tax rate is 10.7% and your marginal tax rate is 10.7%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of 100 원 in your salary will be taxed 10.68 원, hence, your net pay will only increase by 89.32 원.

Bonus Example

A 1,000 원 bonus will generate an extra 893 원 of net incomes. A 5,000 원 bonus will generate an extra 4,466 원 of net incomes.

Compare average tax

Tax per income

North America

Canada

KRW 1179091

3.4%

1

USA

KRW 1114334

8.7%

2

Asia / Pacific

Australia

KRW 1220000

0.0%

1

Singapore

KRW 1219998

0.0%

2

Hong Kong

KRW 1220000

0.0%

3

Pakistan

KRW 1204821

1.2%

4

Thailand

KRW 1159000

5.0%

5

Philippines

KRW 1115162

8.6%

6

Indonesia

KRW 1114606

8.6%

7

Taiwan

KRW 1112018

8.9%

8

South Korea

KRW 1089599

10.7%

9

New Zealand

KRW 1074946

11.9%

10

India

KRW 1073600

12.0%

11

Malaysia

KRW 1069470

12.3%

12

China

KRW 1059144

13.2%

13

Vietnam

KRW 1037305

15.0%

14

Japan

KRW 991355

18.7%

15

Kazakhstan

KRW 966240

20.8%

16

Latin America

Mexico

KRW 1191025

2.4%

1

Brazil

KRW 1128501

7.5%

2

Puerto Rico

KRW 1123006

8.0%

3

Colombia

KRW 1122400

8.0%

4

Ecuador

KRW 1104705

9.5%

5

Guatemala

KRW 1103021

9.6%

6

Costa Rica

KRW 1091900

10.5%

7

Panama

KRW 1085805

11.0%

8

Peru

KRW 1067500

12.5%

9

Argentina

KRW 1012600

17.0%

10

Chile

KRW 1005280

17.6%

11

Uruguay

KRW 999180

18.1%

12

Africa

South Africa

KRW 1207800

1.0%

1

Zambia

KRW 1146800

6.0%

2

Uganda

KRW 1140356

6.5%

3

Morocco

KRW 1137771

6.7%

4

Ivory Coast

KRW 1115143

8.6%

5

Senegal

KRW 1085781

11.0%

6

Kenya

KRW 1064534

12.7%

7

Ghana

KRW 1041301

14.7%

8

Mozambique

KRW 1034846

15.2%

9

Cameroon

KRW 1029338

15.6%

10

Angola

KRW 966231

20.8%

11

Nigeria

KRW 951581

22.0%

12

Middle East

Saudi Arabia

KRW 1220000

0.0%

1

United Arab Emirates

KRW 1158999

5.0%

2

Qatar

KRW 1159001

5.0%

3

Bahrain

KRW 1122388

8.0%

4

Oman

KRW 1122411

8.0%

5

Kuwait

KRW 1085782

11.0%

6

Lebanon

KRW 1067659

12.5%

7

Israel

KRW 1059570

13.2%

8

Egypt

KRW 1052300

13.8%

9

Turkey

KRW 1027740

15.8%

10

NOTE* Withholding is calculated based on the tables of South Korea, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.

Income tax calculator South Korea

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