Income tax calculator South Korea

Find out how much your salary is after tax

Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
55,499 원
Income Tax
- 689 원
Local Tax
- 68.85 원
National Pension
- 2,497 원
National Health Insurance
- 2,178 원
Employment Insurance
- 499 원
Total tax
- 5,932 원
Net pay
* 49,567 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
49,567 원
Net pay
10,614 원
Tax the employer pays
5,932 원
Tax you pay
Total tax paid
16,546 원
Did you know your employer also pays tax on your salary? It costs the employer 10,614 원 to pay you 55,499 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
55,499 원 yearly is how much per hour?
26.68 원 hourly is how much per year?
Summary
If you make 55,499 원 a year living in South Korea, you will be taxed 5,932 원. That means that your net pay will be 49,567 원 per year, or 4,131 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.
Tax per income
55,500 원
56,000 원
56,500 원
57,000 원
57,500 원
58,000 원
58,500 원
59,000 원
59,500 원
60,000 원
60,500 원
61,000 원
61,500 원
62,000 원
62,500 원
63,000 원
63,500 원
64,000 원
64,500 원
65,000 원
North America
Country 
Net pay
Average tax
Rank
Canada
KRW 54621
1.6%
1
USA
KRW 50679
8.7%
2
Latin America
Country 
Net pay
Average tax
Rank
Mexico
KRW 54181
2.4%
1
Brazil
KRW 51337
7.5%
2
Puerto Rico
KRW 51087
8.0%
3
Colombia
KRW 51059
8.0%
4
Ecuador
KRW 50257
9.5%
5
Guatemala
KRW 50178
9.6%
6
Costa Rica
KRW 49672
10.5%
7
Panama
KRW 49400
11.0%
8
Peru
KRW 48562
12.5%
9
Argentina
KRW 46064
17.0%
10
Chile
KRW 45731
17.6%
11
Uruguay
KRW 45454
18.1%
12
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Middle East
Country 
Net pay
Average tax
Rank
Egypt
KRW 55499
0.0%
1
Saudi Arabia
KRW 55498
0.0%
2
United Arab Emirates
KRW 52723
5.0%
3
Qatar
KRW 52726
5.0%
4
Lebanon
KRW 51614
7.0%
5
Oman
KRW 51044
8.0%
6
Bahrain
KRW 51053
8.0%
7
Kuwait
KRW 49375
11.0%
8
Israel
KRW 48199
13.2%
9
Turkey
KRW 46753
15.8%
10
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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.