Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
264,924 원
Income Tax
- 3,287 원
Local Tax
- 329 원
National Pension
- 11,922 원
National Health Insurance
- 10,396 원
Employment Insurance
- 2,384 원
Total tax
- 28,317 원
Net pay
* 236,607 원
Marginal tax rate
10.7%
Average tax rate
10.7%
89.3%
Net pay
10.7%
Total tax
Total tax
Net pay
The Taxberg
236,607 원
Net pay
50,664 원
Tax the employer pays
28,317 원
Tax you pay
Total tax paid
78,981 원
Did you know your employer also pays tax on your salary? It costs the employer 50,664 원 to pay you 264,924 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.
Summary
If you make 264,924 원 a year living in South Korea, you will be taxed 28,317 원. That means that your net pay will be 236,607 원 per year, or 19,717 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 10.69 원, hence, your net pay will only increase by 89.31 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
Europe
Country 
Net pay
Average tax
Rank
United Kingdom
KRW 264917
0.0%
1
Germany
KRW 264928
0.0%
2
Austria
KRW 264928
0.0%
3
Ireland
KRW 264928
0.0%
4
Sweden
KRW 264924
0.0%
5
Norway
KRW 264924
0.0%
6
Spain
KRW 248100
6.4%
7
Italy
KRW 240576
9.2%
8
France
KRW 239230
9.7%
9
Czech Republic
KRW 235783
11.0%
10
Luxembourg
KRW 235655
11.1%
11
Russia
KRW 230484
13.0%
12
Hungary
KRW 215913
18.5%
13
Ukraine
KRW 213264
19.5%
14
Switzerland
KRW 208639
21.3%
15
Poland
KRW 208029
21.5%
16
Greece
KRW 207039
21.9%
17
Portugal
KRW 197241
25.6%
18
Finland
KRW 183465
30.8%
19
Belgium
KRW 180144
32.0%
20
Netherlands
KRW 166906
37.0%
21
Romania
KRW 154980
41.5%
22
Denmark
KRW 43487
85.5%
23
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North America
Country 
Net pay
Average tax
Rank
Canada
KRW 260734
1.6%
1
USA
KRW 241979
8.7%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Australia
KRW 264927
0.0%
1
Singapore
KRW 264923
0.0%
2
Hong Kong
KRW 264923
0.0%
3
Thailand
KRW 251678
5.0%
4
Pakistan
KRW 249745
5.7%
5
Indonesia
KRW 241611
8.8%
6
Taiwan
KRW 241476
8.9%
7
South Korea
KRW 236607
10.7%
8
New Zealand
KRW 233422
11.9%
9
India
KRW 233133
12.0%
10
China
KRW 229994
13.2%
11
Malaysia
KRW 227392
14.2%
12
Vietnam
KRW 225252
15.0%
13
Japan
KRW 215274
18.7%
14
Philippines
KRW 212078
20.0%
15
Kazakhstan
KRW 209820
20.8%
16
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Latin America
Country 
Net pay
Average tax
Rank
Mexico
KRW 258632
2.4%
1
Brazil
KRW 245055
7.5%
2
Puerto Rico
KRW 243865
8.0%
3
Colombia
KRW 243730
8.0%
4
Ecuador
KRW 239895
9.5%
5
Guatemala
KRW 239522
9.6%
6
Costa Rica
KRW 237107
10.5%
7
Panama
KRW 235782
11.0%
8
Peru
KRW 231809
12.5%
9
Argentina
KRW 219887
17.0%
10
Chile
KRW 218297
17.6%
11
Uruguay
KRW 216973
18.1%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
KRW 262275
1.0%
1
Uganda
KRW 251678
5.0%
2
Ghana
KRW 250353
5.5%
3
Zambia
KRW 249028
6.0%
4
Morocco
KRW 247069
6.7%
5
Ivory Coast
KRW 245055
7.5%
6
Senegal
KRW 240084
9.4%
7
Angola
KRW 232930
12.1%
8
Cameroon
KRW 223522
15.6%
9
Nigeria
KRW 219541
17.1%
10
Mozambique
KRW 218667
17.5%
11
Kenya
KRW 217980
17.7%
12
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Middle East
Country 
Net pay
Average tax
Rank
Egypt
KRW 264924
0.0%
1
Saudi Arabia
KRW 264923
0.0%
2
United Arab Emirates
KRW 251676
5.0%
3
Qatar
KRW 251678
5.0%
4
Bahrain
KRW 243726
8.0%
5
Oman
KRW 243737
8.0%
6
Lebanon
KRW 242670
8.4%
7
Kuwait
KRW 235789
11.0%
8
Israel
KRW 230087
13.2%
9
Turkey
KRW 223175
15.8%
10
Show more
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.