Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
1,040,000 원
Income Tax
- 84,760 원
Local Tax
- 8,476 원
National Pension
- 46,800 원
National Health Insurance
- 40,810 원
Employment Insurance
- 9,360 원
Total tax
- 190,206 원
Net pay
*
849,794 원
Marginal tax rate
23.5%
Average tax rate
18.3%
81.7%
Net pay
18.3%
Total tax
Total tax
Net pay
The Taxberg
849,794 원
Net pay
198,890 원
Tax the employer pays
190,206 원
Tax you pay
Total tax paid
389,096 원
Did you know your employer also pays tax on your salary? It costs the employer 198,890 원 to pay you 1,040,000 원. In other words, every time you spend 10 원 of your hard-earned money, 3.74 원 goes to the government.
Real tax rate
31.4%
So, with you and the employer both paying tax, what used to be a 18.3% tax rate now rises to 31.4%, meaning your real tax rate is actually 13.1% higher than what it seemed at first.
Summary
If you make 54,080,000 원 a year living in South Korea, you will be taxed 9,890,710 원. That means that your net pay will be 44,189,290 원 per year, or 3,682,441 원 per month. Your average tax rate is 18.3% and your marginal tax rate is 23.5%. 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 23.46 원, hence, your net pay will only increase by 76.54 원.
Bonus Example
A 1,000 원 bonus will generate an extra 765 원 of net incomes. A 5,000 원 bonus will generate an extra 3,827 원 of net incomes.
Compare average tax
North America
Country
Net pay
Average tax
Rank
USA
KRW 43355754
19.8%
1
Canada
KRW 39339879
27.3%
2
Latin America
Country
Net pay
Average tax
Rank
Guatemala
KRW 48892971
9.6%
1
Puerto Rico
KRW 46373918
14.3%
2
Costa Rica
KRW 46070582
14.8%
3
Ecuador
KRW 44633402
17.5%
4
Chile
KRW 43864743
18.9%
5
Panama
KRW 43231104
20.1%
6
Colombia
KRW 42566940
21.3%
7
Peru
KRW 40821296
24.5%
8
Mexico
KRW 40332413
25.4%
9
Brazil
KRW 39996929
26.0%
10
Uruguay
KRW 37952646
29.8%
11
Argentina
KRW 35142220
35.0%
12
Show more
Africa
Country
Net pay
Average tax
Rank
South Africa
KRW 40291858
25.5%
1
Angola
KRW 39586562
26.8%
2
Kenya
KRW 38567674
28.7%
3
Mozambique
KRW 38258305
29.3%
4
Ghana
KRW 37174919
31.3%
5
Nigeria
KRW 36959785
31.7%
6
Ivory Coast
KRW 36483666
32.5%
7
Morocco
KRW 35945770
33.5%
8
Uganda
KRW 34762242
35.7%
9
Cameroon
KRW 34657680
35.9%
10
Senegal
KRW 34054675
37.0%
11
Zambia
KRW 33669355
37.7%
12
Show more
Middle East
Country
Net pay
Average tax
Rank
United Arab Emirates
KRW 51375999
5.0%
1
Qatar
KRW 51375998
5.0%
2
Bahrain
KRW 49753586
8.0%
3
Oman
KRW 49753587
8.0%
4
Saudi Arabia
KRW 48672000
10.0%
5
Kuwait
KRW 48131196
11.0%
6
Israel
KRW 43663892
19.3%
7
Egypt
KRW 40948102
24.3%
8
Lebanon
KRW 40825786
24.5%
9
Turkey
KRW 31765881
41.3%
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.