Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
22,917 원
Income Tax
- 1,723 원
Local Tax
- 172 원
National Pension
- 1,031 원
National Health Insurance
- 899 원
Employment Insurance
- 206 원
Total tax
- 4,032 원
Net pay
* 18,885 원
Marginal tax rate
23.5%
Average tax rate
17.6%
82.4%
Net pay
17.6%
Total tax
Total tax
Net pay
The Taxberg
18,885 원
Net pay
4,383 원
Tax the employer pays
4,032 원
Tax you pay
Total tax paid
8,415 원
Did you know your employer also pays tax on your salary? It costs the employer 4,383 원 to pay you 22,917 원. In other words, every time you spend 10 원 of your hard-earned money, 3.67 원 goes to the government.
Real tax rate
30.8%
So, with you and the employer both paying tax, what used to be a 17.6% tax rate now rises to 30.8%, meaning your real tax rate is actually 13.2% higher than what it seemed at first.
Summary
If you make 47,667,360 원 a year living in South Korea, you will be taxed 8,386,270 원. That means that your net pay will be 39,281,090 원 per year, or 3,273,424 원 per month. Your average tax rate is 17.6% and your marginal tax rate is 23.5%. 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 23.46 원, hence, your net pay will only increase by 76.54 원.
Bonus Example
A 1,000 원 bonus will generate an extra 765 원 of net incomes. A 5,000 원 bonus will generate an extra 3,827 원 of net incomes.
Compare average tax
Europe
Country 
Net pay
Average tax
Rank
Switzerland
KRW 41993712
11.9%
1
Russia
KRW 41470603
13.0%
2
Ireland
KRW 40234560
15.6%
3
United Kingdom
KRW 39365672
17.4%
4
France
KRW 39265151
17.6%
5
Hungary
KRW 38848898
18.5%
6
Ukraine
KRW 38372225
19.5%
7
Norway
KRW 37369865
21.6%
8
Czech Republic
KRW 37092211
22.2%
9
Luxembourg
KRW 36948215
22.5%
10
Spain
KRW 36458028
23.5%
11
Austria
KRW 35461919
25.6%
12
Sweden
KRW 33766981
29.2%
13
Greece
KRW 33211458
30.3%
14
Germany
KRW 32439081
32.0%
15
Denmark
KRW 32095974
32.7%
16
Poland
KRW 32085476
32.7%
17
Italy
KRW 31429060
34.1%
18
Finland
KRW 30521668
36.0%
19
Netherlands
KRW 29996793
37.1%
20
Portugal
KRW 29300375
38.5%
21
Romania
KRW 27885405
41.5%
22
Belgium
KRW 25205708
47.1%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
KRW 38611094
19.0%
1
Canada
KRW 35097549
26.4%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
KRW 44225136
7.2%
1
Taiwan
KRW 42359102
11.1%
2
Thailand
KRW 40938825
14.1%
3
Australia
KRW 40002992
16.1%
4
South Korea
KRW 39281090
17.6%
5
New Zealand
KRW 38547701
19.1%
6
Kazakhstan
KRW 38242819
19.8%
7
Indonesia
KRW 37325435
21.7%
8
Singapore
KRW 37164149
22.0%
9
Pakistan
KRW 36941700
22.5%
10
Japan
KRW 36469829
23.5%
11
Malaysia
KRW 36067336
24.3%
12
Philippines
KRW 35183738
26.2%
13
Vietnam
KRW 33762013
29.2%
14
China
KRW 31865314
33.2%
15
India
KRW 30327914
36.4%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
KRW 43096775
9.6%
1
Puerto Rico
KRW 41349623
13.3%
2
Costa Rica
KRW 41152364
13.7%
3
Ecuador
KRW 39916475
16.3%
4
Panama
KRW 38379938
19.5%
5
Chile
KRW 38100213
20.1%
6
Colombia
KRW 38077438
20.1%
7
Peru
KRW 36164113
24.1%
8
Mexico
KRW 36021516
24.4%
9
Brazil
KRW 35347765
25.8%
10
Uruguay
KRW 34058635
28.6%
11
Argentina
KRW 30974004
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
KRW 36310626
23.8%
1
Angola
KRW 34921367
26.7%
2
Mozambique
KRW 34090090
28.5%
3
Kenya
KRW 34078826
28.5%
4
Ghana
KRW 32932957
30.9%
5
Nigeria
KRW 32597908
31.6%
6
Ivory Coast
KRW 32512158
31.8%
7
Morocco
KRW 32059787
32.7%
8
Uganda
KRW 31235290
34.5%
9
Cameroon
KRW 30753344
35.5%
10
Senegal
KRW 30207091
36.6%
11
Zambia
KRW 29725582
37.6%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
KRW 45283989
5.0%
1
Qatar
KRW 45283993
5.0%
2
Bahrain
KRW 43853961
8.0%
3
Oman
KRW 43853955
8.0%
4
Saudi Arabia
KRW 42900624
10.0%
5
Kuwait
KRW 42423949
11.0%
6
Israel
KRW 39149395
17.9%
7
Egypt
KRW 36138622
24.2%
8
Lebanon
KRW 36016306
24.4%
9
Turkey
KRW 28031096
41.2%
10
Show more
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.