South Korea Income Tax Calculator 2026
Calculate your Korean taxes: Income Tax + Social Contributions (Pension, Health, Employment Insurance)
~$0
0 KRW
Effective rate: 0%
0 KRW
~9% (employee share)
0 KRW
Monthly: 0 KRW
Income Distribution
Effective total rate: 0%
1. National Income Tax (KRW 8,640,000)
KRW 14,000,000 x 6% = KRW 840,000
(KRW 50,000,000 - 14,000,000) x 15% = KRW 5,400,000
(KRW 60,000,000 - 50,000,000) x 24% = KRW 2,400,000
National Total: KRW 8,640,000
2. Local Income Tax (KRW 864,000)
National tax x 10% = KRW 8,640,000 x 10%
Local Total: KRW 864,000
3. Social Contributions (KRW 5,367,000)
National Pension (4.5%): KRW 2,700,000
Health Insurance (3.545%): KRW 2,127,000
Employment Insurance (0.9%): KRW 540,000
Social Total: KRW 5,367,000
~KRW 3,760,750/month (~$2,750 USD) | Effective total rate: 24.8%
National Pension (NPS)
- Employee rate: 4.5%
- Employer rate: 4.5%
- Monthly cap: KRW 5,900,000
- Retirement age: 65
Health Insurance (NHI)
- Employee rate: 3.545%
- Employer rate: 3.545%
- + Long-term Care: 0.91%
- Universal coverage
Employment Insurance
- Employee rate: 0.9%
- Employer rate: 0.9% - 1.5%
- Varies by company size
- Benefits up to 270 days
Complete Guide to South Korean Taxation
South Korea operates a progressive tax system called Global Income Tax (Jonghap Sodeukse). With 8 tax brackets and an additional local income tax, it's one of the most structured systems in Asia. Social contributions are shared between employer and employee.
Korean Tax Structure 2026
Korean income tax uses a progressive marginal bracket system. Only the portion of income in each bracket is taxed at the corresponding rate:
- KRW 0 - 14,000,000: 6%
- KRW 14,000,000 - 50,000,000: 15%
- KRW 50,000,000 - 88,000,000: 24%
- KRW 88,000,000 - 150,000,000: 35%
- KRW 150,000,000 - 300,000,000: 38%
- KRW 300,000,000 - 500,000,000: 40%
- KRW 500,000,000 - 1,000,000,000: 42%
- Over KRW 1,000,000,000: 45%
National Income Tax
6% - 45%
Progressive system with 8 brackets
Local Income Tax
+10%
of national tax (e.g., 6% becomes 6.6%)
Social Contributions (Employee Share)
| Contribution | Employee Rate | Employer Rate | Description |
|---|---|---|---|
| National Pension (NPS) | 4.5% | 4.5% | Mandatory pension |
| Health Insurance (NHI) | 3.545% | 3.545% | Universal health coverage |
| Long-term Care | 0.91% | 0.91% | Long-term care insurance |
| Employment Insurance | 0.9% | 0.9-1.5% | Unemployment protection |
| Total | ~9.9% | ~9.9% | Employee and employer shares |
Deductions and Tax Credits
Personal Deductions
- Basic deduction: KRW 1,500,000 per person
- Spouse deduction: KRW 1,500,000 if spouse income < KRW 1M
- Dependent deduction: KRW 1,500,000 per dependent
- Additional deductions: for elderly, disabled, single women breadwinners
Employee Tax Credits
- Standard employee credit: Up to KRW 740,000
- Pension contribution credit: 12-15% of contributions
- Insurance premium credit: 12% of premiums (cap KRW 1M)
- Medical expense credit: 15% above 3% of income
- Education credit: 15% of education expenses
Special Card Payment Deduction
- Korea encourages electronic payments to combat tax evasion
- Credit card: 15% deduction
- Debit card/cash: 30% deduction
- Above 25% of annual salary, capped based on income
Key Dates and Filing
- Tax year: January 1 to December 31
- Annual filing: May (1st to 31st)
- Year-end settlement: Employers calculate final tax in February
- Late penalties: 3% + 0.025% per day
Tax Regime for Foreigners
Foreigners working in South Korea have two options:
- Standard progressive rates: 6% to 45% + local tax
- Flat rate option: 19% flat rate for 5 years (attractive for high earners)
The regime choice is made annually. Foreign residents are taxed on worldwide income after 5 years of residence.
France vs South Korea Comparison
| Criteria | France | South Korea |
|---|---|---|
| KRW 60M gross salary (~EUR 40,000) | ~EUR 28,000 net | ~KRW 45M net (~EUR 33,000) |
| Top marginal rate | 45% | 45% + 10% local = 49.5% |
| Employee social contributions | ~22% | ~9.9% |
| Health insurance | Included | Included (NHI) |
| Corporate tax | 25% | 9-24% |
| Foreign regime | No | 19% flat rate (5 years) |
Note: South Korea offers lower social contributions (~10%) compared to France (~22%), but the 10% local income tax on top of national tax increases the burden for high earners. The 19% flat rate for foreigners can be very advantageous.
Key Facts
Tax Year
January - December
Filing Deadline
May 31st
Currency
Korean Won (KRW)
South Korea combines progressive taxation with significant social contributions. Compare with high-tech Asian economies.