Summary
If you make 197,400,320 원 a year living in South Korea, you will be taxed 61,382,600 원. That means that your net pay will be 136,017,720 원 per year, or 11,334,810 원 per month. Your average tax rate is 31.1% and your marginal tax rate is 43.8%. 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 43.77 원, hence, your net pay will only increase by 56.23 원.
Bonus Example
A 1,000 원 bonus will generate an extra 562 원 of net incomes. A 5,000 원 bonus will generate an extra 2,812 원 of net incomes.