Income tax calculator South Korea

Find out how much your salary is after tax

Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
47,667 원
Income Tax
- 591 원
Local Tax
- 59.13 원
National Pension
- 2,145 원
National Health Insurance
- 1,870 원
Employment Insurance
- 429 원
Total tax
- 5,095 원
Net pay
* 42,572 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
42,572 원
Net pay
9,116 원
Tax the employer pays
5,095 원
Tax you pay
Total tax paid
14,211 원
Did you know your employer also pays tax on your salary? It costs the employer 9,116 원 to pay you 47,667 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.
People also ask
47,667 원 yearly is how much per hour?
22.92 원 hourly is how much per year?
Summary
If you make 47,667 원 a year living in South Korea, you will be taxed 5,095 원. That means that your net pay will be 42,572 원 per year, or 3,548 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
Tax per income
47,500 원
48,000 원
48,500 원
49,000 원
49,500 원
50,000 원
50,500 원
51,000 원
51,500 원
52,000 원
52,500 원
53,000 원
53,500 원
54,000 원
54,500 원
55,000 원
55,500 원
56,000 원
56,500 원
57,000 원
Europe
Country 
Net pay
Average tax
Rank
United Kingdom
KRW 47673
0.0%
1
Germany
KRW 47672
0.0%
2
Austria
KRW 47672
0.0%
3
Ireland
KRW 47672
0.0%
4
Sweden
KRW 47668
0.0%
5
Norway
KRW 47667
0.0%
6
Spain
KRW 44636
6.4%
7
Italy
KRW 43290
9.2%
8
France
KRW 43050
9.7%
9
Czech Republic
KRW 42424
11.0%
10
Luxembourg
KRW 42407
11.0%
11
Russia
KRW 41470
13.0%
12
Hungary
KRW 38849
18.5%
13
Ukraine
KRW 38372
19.5%
14
Poland
KRW 37429
21.5%
15
Greece
KRW 37261
21.8%
16
Portugal
KRW 35481
25.6%
17
Finland
KRW 33013
30.8%
18
Belgium
KRW 32415
32.0%
19
Netherlands
KRW 29199
38.8%
20
Romania
KRW 27882
41.5%
21
Switzerland
KRW 6220
87.0%
22
Denmark
KRW 0
100.0%
23
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North America
Country 
Net pay
Average tax
Rank
Canada
KRW 46918
1.6%
1
USA
KRW 43528
8.7%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Australia
KRW 47667
0.0%
1
Singapore
KRW 47671
0.0%
2
Hong Kong
KRW 47666
0.0%
3
Thailand
KRW 45284
5.0%
4
Indonesia
KRW 43472
8.8%
5
Taiwan
KRW 43448
8.9%
6
South Korea
KRW 42572
10.7%
7
New Zealand
KRW 41997
11.9%
8
India
KRW 41945
12.0%
9
China
KRW 41382
13.2%
10
Vietnam
KRW 40529
15.0%
11
Japan
KRW 38734
18.7%
12
Kazakhstan
KRW 37752
20.8%
13
Malaysia
KRW 36788
22.8%
14
Pakistan
KRW 32488
31.8%
15
Philippines
KRW 19516
59.1%
16
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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.