Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
20,800,000 원
Income Tax
- 653,216 원
Local Tax
- 65,322 원
National Pension
- 936,000 원
National Health Insurance
- 816,192 원
Employment Insurance
- 187,200 원
Total tax
- 2,657,929 원
Net pay
*
18,142,071 원
Marginal tax rate
15.8%
Average tax rate
12.8%
87.2%
Net pay
12.8%
Total tax
Total tax
Net pay
The Taxberg
18,142,071 원
Net pay
3,977,793 원
Tax the employer pays
2,657,929 원
Tax you pay
Total tax paid
6,635,722 원
Did you know your employer also pays tax on your salary? It costs the employer 3,977,793 원 to pay you 20,800,000 원. In other words, every time you spend 10 원 of your hard-earned money, 3.19 원 goes to the government.
Real tax rate
26.8%
So, with you and the employer both paying tax, what used to be a 12.8% tax rate now rises to 26.8%, meaning your real tax rate is actually 14% higher than what it seemed at first.
Summary
If you make 20,800,000 원 a year living in South Korea, you will be taxed 2,657,929 원. That means that your net pay will be 18,142,071 원 per year, or 1,511,839 원 per month. Your average tax rate is 12.8% and your marginal tax rate is 15.8%. 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 15.75 원, hence, your net pay will only increase by 84.25 원.
Bonus Example
A 1,000 원 bonus will generate an extra 843 원 of net incomes. A 5,000 원 bonus will generate an extra 4,213 원 of net incomes.
Europe
Country
Net pay
Average tax
Rank
United Kingdom
KRW 20800005
0.0%
1
Ireland
KRW 20664593
0.7%
2
Spain
KRW 19479200
6.4%
3
Switzerland
KRW 19346075
7.0%
4
France
KRW 18406009
11.5%
5
Norway
KRW 18296951
12.0%
6
Russia
KRW 18096000
13.0%
7
Luxembourg
KRW 18007204
13.4%
8
Austria
KRW 17684760
15.0%
9
Italy
KRW 17488177
15.9%
10
Czech Republic
KRW 17210365
17.3%
11
Hungary
KRW 16952000
18.5%
12
Ukraine
KRW 16744000
19.5%
13
Germany
KRW 16707603
19.7%
14
Greece
KRW 15877771
23.7%
15
Sweden
KRW 15750956
24.3%
16
Poland
KRW 15032386
27.7%
17
Portugal
KRW 14371236
30.9%
18
Finland
KRW 14183284
31.8%
19
Belgium
KRW 14117601
32.1%
20
Denmark
KRW 13908791
33.1%
21
Netherlands
KRW 13089047
37.1%
22
Romania
KRW 12168000
41.5%
23
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North America
Country
Net pay
Average tax
Rank
USA
KRW 18386327
11.6%
1
Canada
KRW 15736442
24.3%
2
Asia / Pacific
Country
Net pay
Average tax
Rank
Australia
KRW 19948993
4.1%
1
Hong Kong
KRW 19760000
5.0%
2
Thailand
KRW 19241403
7.5%
3
Taiwan
KRW 18960149
8.9%
4
South Korea
KRW 18142071
12.8%
5
Pakistan
KRW 18089369
13.0%
6
Malaysia
KRW 17711405
14.9%
7
New Zealand
KRW 17691228
15.0%
8
Indonesia
KRW 17642456
15.2%
9
Philippines
KRW 16925258
18.6%
10
Japan
KRW 16860760
18.9%
11
Singapore
KRW 16645150
20.0%
12
Kazakhstan
KRW 16497691
20.7%
13
Vietnam
KRW 15992352
23.1%
14
India
KRW 15067253
27.6%
15
China
KRW 14718140
29.2%
16
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Latin America
Country
Net pay
Average tax
Rank
Puerto Rico
KRW 18946570
8.9%
1
Guatemala
KRW 18805593
9.6%
2
Ecuador
KRW 18688769
10.2%
3
Colombia
KRW 18620362
10.5%
4
Costa Rica
KRW 18616000
10.5%
5
Panama
KRW 18054778
13.2%
6
Mexico
KRW 16999134
18.3%
7
Chile
KRW 17000860
18.3%
8
Uruguay
KRW 16418168
21.1%
9
Peru
KRW 16167232
22.3%
10
Brazil
KRW 15893879
23.6%
11
Argentina
KRW 13510220
35.1%
12
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Africa
Country
Net pay
Average tax
Rank
South Africa
KRW 17915384
13.9%
1
Mozambique
KRW 15750653
24.3%
2
Morocco
KRW 15553215
25.2%
3
Angola
KRW 15375362
26.1%
4
Kenya
KRW 15271674
26.6%
5
Ivory Coast
KRW 15211708
26.9%
6
Ghana
KRW 15111146
27.4%
7
Cameroon
KRW 14417762
30.7%
8
Nigeria
KRW 14322729
31.1%
9
Uganda
KRW 13932942
33.0%
10
Senegal
KRW 13826305
33.5%
11
Zambia
KRW 13202155
36.5%
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.