Income tax calculator South Korea
Find out how much your salary is after tax
Salary rate
Annual
Month
Semimonthly
Weekly
Day
Hour
Withholding
Salary
7,046,000 원
Income Tax
- 124,238 원
Local Tax
- 12,424 원
National Pension
- 317,070 원
National Health Insurance
- 276,485 원
Employment Insurance
- 63,414 원
Total tax
- 793,631 원
Net pay
*
6,252,369 원
Marginal tax rate
12.7%
Average tax rate
11.3%
88.7%
Net pay
11.3%
Total tax
Total tax
Net pay
The Taxberg
6,252,369 원
Net pay
1,347,477 원
Tax the employer pays
793,631 원
Tax you pay
Total tax paid
2,141,108 원
Did you know your employer also pays tax on your salary? It costs the employer 1,347,477 원 to pay you 7,046,000 원. In other words, every time you spend 10 원 of your hard-earned money, 3.04 원 goes to the government.
Real tax rate
25.5%
So, with you and the employer both paying tax, what used to be a 11.3% tax rate now rises to 25.5%, meaning your real tax rate is actually 14.2% higher than what it seemed at first.
Summary
If you make 7,046,000 원 a year living in South Korea, you will be taxed 793,631 원. That means that your net pay will be 6,252,369 원 per year, or 521,031 원 per month. Your average tax rate is 11.3% and your marginal tax rate is 12.7%. 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 12.67 원, hence, your net pay will only increase by 87.33 원.
Bonus Example
A 1,000 원 bonus will generate an extra 873 원 of net incomes. A 5,000 원 bonus will generate an extra 4,367 원 of net incomes.
North America
Country
Net pay
Average tax
Rank
USA
KRW 6435750
8.7%
1
Canada
KRW 5756862
18.3%
2
Latin America
Country
Net pay
Average tax
Rank
Colombia
KRW 6936258
7.5%
1
Puerto Rico
KRW 6485838
8.0%
2
Brazil
KRW 6393760
9.3%
3
Ecuador
KRW 6380158
9.5%
4
Guatemala
KRW 6370394
9.6%
5
Mexico
KRW 6337587
10.1%
6
Costa Rica
KRW 6306170
10.5%
7
Panama
KRW 6270935
11.0%
8
Peru
KRW 6165250
12.5%
9
Chile
KRW 5805904
17.6%
10
Uruguay
KRW 5629754
20.1%
11
Argentina
KRW 4576972
35.0%
12
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Africa
Country
Net pay
Average tax
Rank
South Africa
KRW 6956284
1.3%
1
Morocco
KRW 6335610
10.1%
2
Cameroon
KRW 5813455
17.5%
3
Ivory Coast
KRW 5762551
18.2%
4
Kenya
KRW 5689662
19.3%
5
Mozambique
KRW 5644918
19.9%
6
Ghana
KRW 5362998
23.9%
7
Angola
KRW 5321970
24.5%
8
Zambia
KRW 5149617
26.9%
9
Senegal
KRW 5003804
29.0%
10
Uganda
KRW 4992842
29.1%
11
Nigeria
KRW 4967259
29.5%
12
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Middle East
Country
Net pay
Average tax
Rank
United Arab Emirates
KRW 6693699
5.0%
1
Qatar
KRW 6693699
5.0%
2
Saudi Arabia
KRW 6582468
6.6%
3
Bahrain
KRW 6482312
8.0%
4
Oman
KRW 6482319
8.0%
5
Kuwait
KRW 6270933
11.0%
6
Israel
KRW 6119451
13.2%
7
Egypt
KRW 5553859
21.2%
8
Lebanon
KRW 5550286
21.2%
9
Turkey
KRW 4369784
38.0%
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.