Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
80,599,992 원
Income Tax
- 9,204,516 원
Local Tax
- 920,452 원
National Pension
- 2,829,699 원
National Health Insurance
- 3,162,744 원
Employment Insurance
- 725,400 원
Total tax
- 16,842,810 원
Net pay
*
63,757,182 원
Marginal tax rate
28.6%
Average tax rate
20.9%
79.1%
Net pay
20.9%
Total tax
Total tax
Net pay
The Taxberg
63,757,182 원
Net pay
14,616,644 원
Tax the employer pays
16,842,810 원
Tax you pay
Total tax paid
31,459,454 원
Did you know your employer also pays tax on your salary? It costs the employer 14,616,644 원 to pay you 80,599,992 원. In other words, every time you spend 10 원 of your hard-earned money, 3.90 원 goes to the government.
Real tax rate
33.0%
So, with you and the employer both paying tax, what used to be a 20.9% tax rate now rises to 33.0%, meaning your real tax rate is actually 12.1% higher than what it seemed at first.
Summary
If you make 80,599,992 원 a year living in South Korea, you will be taxed 16,842,810 원. That means that your net pay will be 63,757,182 원 per year, or 5,313,098 원 per month. Your average tax rate is 20.9% and your marginal tax rate is 28.6%. 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 28.63 원, hence, your net pay will only increase by 71.37 원.
Bonus Example
A 1,000 원 bonus will generate an extra 714 원 of net incomes. A 5,000 원 bonus will generate an extra 3,569 원 of net incomes.
North America
Country
Net pay
Average tax
Rank
USA
KRW 62621546
22.3%
1
Canada
KRW 57204200
29.0%
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.