Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
3,895,073 원
Income Tax
- 289,151 원
Local Tax
- 28,915 원
National Pension
- 175,278 원
National Health Insurance
- 152,843 원
Employment Insurance
- 35,056 원
Total tax
- 681,243 원
Net pay
*
3,213,830 원
Marginal tax rate
22.7%
Average tax rate
17.5%
82.5%
Net pay
17.5%
Total tax
Total tax
Net pay
The Taxberg
3,213,830 원
Net pay
744,894 원
Tax the employer pays
681,243 원
Tax you pay
Total tax paid
1,426,137 원
Did you know your employer also pays tax on your salary? It costs the employer 744,894 원 to pay you 3,895,073 원. In other words, every time you spend 10 원 of your hard-earned money, 3.66 원 goes to the government.
Real tax rate
30.7%
So, with you and the employer both paying tax, what used to be a 17.5% tax rate now rises to 30.7%, meaning your real tax rate is actually 13.2% higher than what it seemed at first.
Summary
If you make 46,740,876 원 a year living in South Korea, you will be taxed 8,174,914 원. That means that your net pay will be 38,565,962 원 per year, or 3,213,830 원 per month. Your average tax rate is 17.5% and your marginal tax rate is 22.7%. 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 22.67 원, hence, your net pay will only increase by 77.33 원.
Bonus Example
A 1,000 원 bonus will generate an extra 773 원 of net incomes. A 5,000 원 bonus will generate an extra 3,867 원 of net incomes.
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.