Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
5,212,488 원
Income Tax
- 70,775 원
Local Tax
- 7,077 원
National Pension
- 234,562 원
National Health Insurance
- 204,538 원
Employment Insurance
- 46,912 원
Total tax
- 563,865 원
Net pay
*
4,648,623 원
Marginal tax rate
12.1%
Average tax rate
10.8%
89.2%
Net pay
10.8%
Total tax
Total tax
Net pay
The Taxberg
4,648,623 원
Net pay
996,836 원
Tax the employer pays
563,865 원
Tax you pay
Total tax paid
1,560,701 원
Did you know your employer also pays tax on your salary? It costs the employer 996,836 원 to pay you 5,212,488 원. In other words, every time you spend 10 원 of your hard-earned money, 2.99 원 goes to the government.
Real tax rate
25.1%
So, with you and the employer both paying tax, what used to be a 10.8% tax rate now rises to 25.1%, meaning your real tax rate is actually 14.3% higher than what it seemed at first.
Summary
If you make 5,212,488 원 a year living in South Korea, you will be taxed 563,865 원. That means that your net pay will be 4,648,623 원 per year, or 387,385 원 per month. Your average tax rate is 10.8% and your marginal tax rate is 12.1%. 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 12.14 원, hence, your net pay will only increase by 87.86 원.
Bonus Example
A 1,000 원 bonus will generate an extra 879 원 of net incomes. A 5,000 원 bonus will generate an extra 4,393 원 of net incomes.
North America
Country
Net pay
Average tax
Rank
USA
KRW 4761032
8.7%
1
Canada
KRW 4462095
14.4%
2
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.