Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
2,022,223 원
Income Tax
- 73,926 원
Local Tax
- 7,393 원
National Pension
- 91,000 원
National Health Insurance
- 79,352 원
Employment Insurance
- 18,200 원
Total tax
- 269,870 원
Net pay
* 1,752,353 원
Marginal tax rate
21.8%
Average tax rate
13.3%
86.7%
Net pay
13.3%
Total tax
Total tax
Net pay
The Taxberg
1,752,353 원
Net pay
386,730 원
Tax the employer pays
269,870 원
Tax you pay
Total tax paid
656,600 원
Did you know your employer also pays tax on your salary? It costs the employer 386,730 원 to pay you 2,022,223 원. In other words, every time you spend 10 원 of your hard-earned money, 3.25 원 goes to the government.
Real tax rate
27.3%
So, with you and the employer both paying tax, what used to be a 13.3% tax rate now rises to 27.3%, meaning your real tax rate is actually 14% higher than what it seemed at first.
Summary
If you make 24,266,676 원 a year living in South Korea, you will be taxed 3,238,443 원. That means that your net pay will be 21,028,233 원 per year, or 1,752,353 원 per month. Your average tax rate is 13.4% and your marginal tax rate is 21.8%. 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 21.81 원, hence, your net pay will only increase by 78.19 원.
Bonus Example
A 1,000 원 bonus will generate an extra 782 원 of net incomes. A 5,000 원 bonus will generate an extra 3,910 원 of net incomes.
Compare average tax
North America
Country 
Net pay
Average tax
Rank
USA
KRW 21075331
13.2%
1
Canada
KRW 18098285
25.4%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
KRW 23036637
5.1%
1
Australia
KRW 22573315
7.0%
2
Thailand
KRW 22238791
8.4%
3
Taiwan
KRW 22109535
8.9%
4
South Korea
KRW 21028233
13.4%
5
Pakistan
KRW 20689376
14.7%
6
New Zealand
KRW 20503047
15.5%
7
Indonesia
KRW 20369309
16.1%
8
Malaysia
KRW 20355570
16.1%
9
Japan
KRW 19567327
19.4%
10
Philippines
KRW 19372687
20.2%
11
Singapore
KRW 19355549
20.2%
12
Kazakhstan
KRW 19288265
20.5%
13
Vietnam
KRW 18433710
24.0%
14
China
KRW 17136147
29.4%
15
India
KRW 17036325
29.8%
16
Show more
Latin America
Country 
Net pay
Average tax
Rank
Guatemala
KRW 21939865
9.6%
1
Puerto Rico
KRW 21905384
9.7%
2
Costa Rica
KRW 21718675
10.5%
3
Ecuador
KRW 21587344
11.0%
4
Colombia
KRW 21280746
12.3%
5
Panama
KRW 20677329
14.8%
6
Chile
KRW 19743139
18.6%
7
Mexico
KRW 19586415
19.3%
8
Peru
KRW 18775906
22.6%
9
Uruguay
KRW 18575391
23.5%
10
Brazil
KRW 18382270
24.3%
11
Argentina
KRW 15763560
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
KRW 20480724
15.6%
1
Mozambique
KRW 18246660
24.8%
2
Angola
KRW 17897369
26.3%
3
Morocco
KRW 17789513
26.7%
4
Kenya
KRW 17698347
27.1%
5
Ivory Coast
KRW 17493594
27.9%
6
Ghana
KRW 17453405
28.1%
7
Nigeria
KRW 16680762
31.3%
8
Cameroon
KRW 16505837
32.0%
9
Uganda
KRW 16186281
33.3%
10
Senegal
KRW 16010310
34.0%
11
Zambia
KRW 15334161
36.8%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
KRW 23053343
5.0%
1
Qatar
KRW 23053343
5.0%
2
Bahrain
KRW 22325342
8.0%
3
Oman
KRW 22325326
8.0%
4
Saudi Arabia
KRW 21840009
10.0%
5
Kuwait
KRW 21597329
11.0%
6
Israel
KRW 21075565
13.2%
7
Egypt
KRW 18588108
23.4%
8
Lebanon
KRW 18465793
23.9%
9
Turkey
KRW 13814191
43.1%
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.