Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
32,988 원
Income Tax
- 409 원
Local Tax
- 40.92 원
National Pension
- 1,484 원
National Health Insurance
- 1,294 원
Employment Insurance
- 297 원
Total tax
- 3,526 원
Net pay
* 29,462 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
29,462 원
Net pay
6,309 원
Tax the employer pays
3,526 원
Tax you pay
Total tax paid
9,835 원
Did you know your employer also pays tax on your salary? It costs the employer 6,309 원 to pay you 32,988 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 32,988 원 a year living in South Korea, you will be taxed 3,526 원. That means that your net pay will be 29,462 원 per year, or 2,455 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 32979
0.0%
1
Germany
KRW 32983
0.0%
2
Austria
KRW 32983
0.0%
3
Ireland
KRW 32983
0.0%
4
Sweden
KRW 32988
0.0%
5
Norway
KRW 32988
0.0%
6
Spain
KRW 30889
6.4%
7
Italy
KRW 29947
9.2%
8
France
KRW 29782
9.7%
9
Czech Republic
KRW 29359
11.0%
10
Luxembourg
KRW 29348
11.1%
11
Russia
KRW 28700
13.0%
12
Hungary
KRW 26885
18.5%
13
Ukraine
KRW 26555
19.5%
14
Poland
KRW 25902
21.5%
15
Greece
KRW 25773
21.9%
16
Portugal
KRW 24562
25.5%
17
Finland
KRW 22841
30.8%
18
Belgium
KRW 22438
32.0%
19
Netherlands
KRW 19895
39.7%
20
Romania
KRW 19300
41.5%
21
Denmark
KRW 0
100.0%
22
Switzerland
KRW 32984
121.2%
23
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North America
Country 
Net pay
Average tax
Rank
Canada
KRW 32468
1.6%
1
USA
KRW 30126
8.7%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Australia
KRW 32985
0.0%
1
Singapore
KRW 32987
0.0%
2
Hong Kong
KRW 32989
0.0%
3
Thailand
KRW 31339
5.0%
4
Indonesia
KRW 30085
8.8%
5
Taiwan
KRW 30068
8.9%
6
South Korea
KRW 29462
10.7%
7
New Zealand
KRW 29064
11.9%
8
India
KRW 29030
12.0%
9
China
KRW 28639
13.2%
10
Vietnam
KRW 28048
15.0%
11
Malaysia
KRW 27394
17.0%
12
Japan
KRW 26806
18.7%
13
Kazakhstan
KRW 26126
20.8%
14
Pakistan
KRW 17809
46.0%
15
Philippines
KRW 13506
59.1%
16
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Latin America
Country 
Net pay
Average tax
Rank
Mexico
KRW 32204
2.4%
1
Brazil
KRW 30514
7.5%
2
Puerto Rico
KRW 30365
7.9%
3
Colombia
KRW 30349
8.0%
4
Ecuador
KRW 29873
9.4%
5
Guatemala
KRW 29824
9.6%
6
Costa Rica
KRW 29524
10.5%
7
Panama
KRW 29353
11.0%
8
Peru
KRW 28864
12.5%
9
Argentina
KRW 27380
17.0%
10
Chile
KRW 27182
17.6%
11
Uruguay
KRW 27017
18.1%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
KRW 32658
1.0%
1
Angola
KRW 31998
3.0%
2
Uganda
KRW 31339
5.0%
3
Ghana
KRW 31174
5.5%
4
Zambia
KRW 31009
6.0%
5
Morocco
KRW 30764
6.7%
6
Ivory Coast
KRW 30514
7.5%
7
Senegal
KRW 28094
14.8%
8
Cameroon
KRW 27833
15.6%
9
Nigeria
KRW 27458
16.8%
10
Mozambique
KRW 16882
48.8%
11
Kenya
KRW 32988
138.8%
12
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Middle East
Country 
Net pay
Average tax
Rank
Egypt
KRW 32988
0.0%
1
Saudi Arabia
KRW 32988
0.0%
2
United Arab Emirates
KRW 31340
5.0%
3
Qatar
KRW 31337
5.0%
4
Lebanon
KRW 30679
7.0%
5
Oman
KRW 30348
8.0%
6
Bahrain
KRW 30363
8.0%
7
Kuwait
KRW 29359
11.0%
8
Israel
KRW 28650
13.2%
9
Turkey
KRW 27789
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.