Income Tax Calculator South Korea

Find out how much your salary is after tax

Enter your gross income

Salary rate

Withholding

Salary 541 원

Income Tax -7 원

Local Tax -1 원

National Pension - 24 원

Employment Insurance -5 원

National Health Insurance - 21 원

Total tax - 58 원

Net pay * 483 원

Marginal tax rate 10.7%

Average tax rate 10.7%

10.7%Total tax

89.3%

Net pay

The Taxberg

483 원

Net pay

103 원

Tax the employer pays

58 원

Tax you pay

Total tax paid

₩161

Did you know your employer also pays tax on your salary? It costs the employer 103 원 to pay you 541 원. In other words, every time you spend ₩10 of your hard-earned money, ₩2.98 goes to the government.

Real tax rate

25%

So, with you and the employer both paying tax, what used to be a 10.7% tax rate now rises to 25%, meaning your real tax rate is actually 14.3% higher than what it seemed at first.

Summary

If you make 1,124,760 원 a year living in South Korea, you will be taxed 120,221 원. That means that your net pay will be 1,004,539 원 per year, or 83,712 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 in your salary will be taxed ₩10.7, hence, your net pay will only increase by ₩89.3.

Bonus Example

A ₩1,000 bonus will generate an extra ₩893 of net incomes. A ₩5,000 bonus will generate an extra ₩4,465 of net incomes.

Tax per income

500 원1,000 원1,500 원2,000 원2,500 원3,000 원3,500 원4,000 원4,500 원5,000 원5,500 원6,000 원6,500 원7,000 원7,500 원8,000 원8,500 원9,000 원9,500 원10,000 원

NOTE* Withholding is calculated based on the South Korea tables of KR, 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.