Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
410,000 원
Income Tax
- 140,284 원
Local Tax
- 14,028 원
National Pension
- 1,360 원
National Health Insurance
- 16,088 원
Employment Insurance
- 3,690 원
Total tax
- 175,451 원
Net pay
*
234,549 원
Marginal tax rate
47.9%
Average tax rate
42.8%
57.2%
Net pay
42.8%
Total tax
Total tax
Net pay
The Taxberg
234,549 원
Net pay
61,319 원
Tax the employer pays
175,451 원
Tax you pay
Total tax paid
236,770 원
Did you know your employer also pays tax on your salary? It costs the employer 61,319 원 to pay you 410,000 원. In other words, every time you spend 10 원 of your hard-earned money, 5.77 원 goes to the government.
Real tax rate
50.2%
So, with you and the employer both paying tax, what used to be a 42.8% tax rate now rises to 50.2%, meaning your real tax rate is actually 7.4% higher than what it seemed at first.
Summary
If you make 852,800,000 원 a year living in South Korea, you will be taxed 364,938,427 원. That means that your net pay will be 487,861,573 원 per year, or 40,655,131 원 per month. Your average tax rate is 42.8% and your marginal tax rate is 47.9%. 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 47.88 원, hence, your net pay will only increase by 52.12 원.
Bonus Example
A 1,000 원 bonus will generate an extra 521 원 of net incomes. A 5,000 원 bonus will generate an extra 2,606 원 of net incomes.
North America
Country
Net pay
Average tax
Rank
USA
KRW 503860725
40.9%
1
Canada
KRW 429175105
49.7%
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.