Income tax calculator South Korea

Find out how much your salary is after tax

Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
119,330 원
Income Tax
- 1,480 원
Local Tax
- 148 원
National Pension
- 5,370 원
National Health Insurance
- 4,683 원
Employment Insurance
- 1,074 원
Total tax
- 12,755 원
Net pay
* 106,575 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
106,575 원
Net pay
22,821 원
Tax the employer pays
12,755 원
Tax you pay
Total tax paid
35,575 원
Did you know your employer also pays tax on your salary? It costs the employer 22,821 원 to pay you 119,330 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
119,330 원 yearly is how much per hour?
57.37 원 hourly is how much per year?
Summary
If you make 119,330 원 a year living in South Korea, you will be taxed 12,755 원. That means that your net pay will be 106,575 원 per year, or 8,881 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 10.68 원, hence, your net pay will only increase by 89.32 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.
Tax per income
119,500 원
120,000 원
120,500 원
121,000 원
121,500 원
122,000 원
122,500 원
123,000 원
123,500 원
124,000 원
124,500 원
125,000 원
125,500 원
126,000 원
126,500 원
127,000 원
127,500 원
128,000 원
128,500 원
129,000 원
North America
Country 
Net pay
Average tax
Rank
Canada
KRW 117440
1.6%
1
USA
KRW 108988
8.7%
2
Latin America
Country 
Net pay
Average tax
Rank
Mexico
KRW 116496
2.4%
1
Brazil
KRW 110379
7.5%
2
Puerto Rico
KRW 109833
8.0%
3
Colombia
KRW 109784
8.0%
4
Ecuador
KRW 108059
9.5%
5
Guatemala
KRW 107887
9.6%
6
Costa Rica
KRW 106800
10.5%
7
Panama
KRW 106209
11.0%
8
Peru
KRW 104413
12.5%
9
Argentina
KRW 99044
17.0%
10
Chile
KRW 98328
17.6%
11
Uruguay
KRW 97731
18.1%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
KRW 118137
1.0%
1
Uganda
KRW 113364
5.0%
2
Ghana
KRW 112767
5.5%
3
Zambia
KRW 112170
6.0%
4
Morocco
KRW 111287
6.7%
5
Angola
KRW 110809
7.1%
6
Ivory Coast
KRW 110380
7.5%
7
Senegal
KRW 107011
10.3%
8
Cameroon
KRW 100681
15.6%
9
Nigeria
KRW 99324
16.8%
10
Mozambique
KRW 92000
22.9%
11
Kenya
KRW 73542
38.4%
12
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Middle East
Country 
Net pay
Average tax
Rank
Egypt
KRW 119330
0.0%
1
Saudi Arabia
KRW 119331
0.0%
2
United Arab Emirates
KRW 113361
5.0%
3
Qatar
KRW 113362
5.0%
4
Lebanon
KRW 110977
7.0%
5
Oman
KRW 109766
8.0%
6
Bahrain
KRW 109800
8.0%
7
Kuwait
KRW 106215
11.0%
8
Israel
KRW 103638
13.2%
9
Turkey
KRW 100525
15.8%
10
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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.