Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
2,928,640 원
Income Tax
- 36,332 원
Local Tax
- 3,633 원
National Pension
- 131,789 원
National Health Insurance
- 114,920 원
Employment Insurance
- 26,358 원
Total tax
- 313,031 원
Net pay
*
2,615,609 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
2,615,609 원
Net pay
560,073 원
Tax the employer pays
313,031 원
Tax you pay
Total tax paid
873,104 원
Did you know your employer also pays tax on your salary? It costs the employer 560,073 원 to pay you 2,928,640 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 2,928,640 원 a year living in South Korea, you will be taxed 313,031 원. That means that your net pay will be 2,615,609 원 per year, or 217,967 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
North America
Country
Net pay
Average tax
Rank
USA
KRW 2674997
8.7%
1
Canada
KRW 2644670
9.7%
2
Latin America
Country
Net pay
Average tax
Rank
Mexico
KRW 2859085
2.4%
1
Brazil
KRW 2708993
7.5%
2
Puerto Rico
KRW 2695817
8.0%
3
Colombia
KRW 2694349
8.0%
4
Ecuador
KRW 2651881
9.5%
5
Guatemala
KRW 2647827
9.6%
6
Costa Rica
KRW 2621133
10.5%
7
Panama
KRW 2606497
11.0%
8
Peru
KRW 2562560
12.5%
9
Argentina
KRW 2430771
17.0%
10
Chile
KRW 2413199
17.6%
11
Uruguay
KRW 2398556
18.1%
12
Show more
Africa
Country
Net pay
Average tax
Rank
South Africa
KRW 2899353
1.0%
1
Morocco
KRW 2731250
6.7%
2
Zambia
KRW 2691208
8.1%
3
Kenya
KRW 2555761
12.7%
4
Ivory Coast
KRW 2551946
12.9%
5
Cameroon
KRW 2470952
15.6%
6
Mozambique
KRW 2433893
16.9%
7
Ghana
KRW 2373399
19.0%
8
Senegal
KRW 2367667
19.2%
9
Uganda
KRW 2333309
20.3%
10
Angola
KRW 2273914
22.4%
11
Nigeria
KRW 2164694
26.1%
12
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.