Income tax calculator South Korea

Find out how much your salary is after tax

Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
172,510 원
Income Tax
- 2,140 원
Local Tax
- 214 원
National Pension
- 7,763 원
National Health Insurance
- 6,769 원
Employment Insurance
- 1,553 원
Total tax
- 18,439 원
Net pay
* 154,071 원
Marginal tax rate
10.7%
Average tax rate
10.7%
89.3%
Net pay
10.7%
Total tax
Total tax
Net pay
The Taxberg
154,071 원
Net pay
32,991 원
Tax the employer pays
18,439 원
Tax you pay
Total tax paid
51,430 원
Did you know your employer also pays tax on your salary? It costs the employer 32,991 원 to pay you 172,510 원. In other words, every time you spend 10 원 of your hard-earned money, 2.98 원 goes to the government.
Real tax rate
25.0%
So, with you and the employer both paying tax, what used to be a 10.7% tax rate now rises to 25.0%, meaning your real tax rate is actually 14.3% higher than what it seemed at first.
People also ask
2,070,120 원 yearly is how much per hour?
995 원 hourly is how much per year?
Summary
If you make 2,070,120 원 a year living in South Korea, you will be taxed 221,267 원. That means that your net pay will be 1,848,853 원 per year, or 154,071 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 원 in your salary will be taxed 10.69 원, hence, your net pay will only increase by 89.31 원.
Bonus Example
A 1,000 원 bonus will generate an extra 893 원 of net incomes. A 5,000 원 bonus will generate an extra 4,466 원 of net incomes.
Compare average tax
Tax per income
172,500 원
173,000 원
173,500 원
174,000 원
174,500 원
175,000 원
175,500 원
176,000 원
176,500 원
177,000 원
177,500 원
178,000 원
178,500 원
179,000 원
179,500 원
180,000 원
180,500 원
181,000 원
181,500 원
182,000 원
Asia / Pacific
Country 
Net pay
Average tax
Rank
Australia
KRW 2070122
0.0%
1
Singapore
KRW 2070117
0.0%
2
Hong Kong
KRW 2070120
0.0%
3
Pakistan
KRW 2054941
0.7%
4
Thailand
KRW 1966614
5.0%
5
Philippines
KRW 1928205
6.9%
6
Indonesia
KRW 1897458
8.3%
7
Taiwan
KRW 1886894
8.9%
8
South Korea
KRW 1848853
10.7%
9
New Zealand
KRW 1823980
11.9%
10
India
KRW 1821706
12.0%
11
Malaysia
KRW 1819163
12.1%
12
China
KRW 1797175
13.2%
13
Vietnam
KRW 1760120
15.0%
14
Japan
KRW 1682150
18.7%
15
Kazakhstan
KRW 1639535
20.8%
16
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Latin America
Country 
Net pay
Average tax
Rank
Mexico
KRW 2020954
2.4%
1
Brazil
KRW 1914860
7.5%
2
Puerto Rico
KRW 1905547
8.0%
3
Colombia
KRW 1904510
8.0%
4
Ecuador
KRW 1874492
9.5%
5
Guatemala
KRW 1871626
9.6%
6
Costa Rica
KRW 1852757
10.5%
7
Panama
KRW 1842411
11.0%
8
Peru
KRW 1811356
12.5%
9
Argentina
KRW 1718200
17.0%
10
Chile
KRW 1705779
17.6%
11
Uruguay
KRW 1695428
18.1%
12
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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.