Is South Korea a high-tax or low-tax country?

South Korea is a moderate-tax country. For an individual earning $75,000 USD, the effective income tax rate is 21.2%, which is quite average when you look at other developed nations. For example, a single person earning $75,000 will pay about $15,900 in income tax. This includes both national and local income taxes. Compare that to the UK at 20.3% or Canada at 20.5% for the same income level; South Korea is right in the middle. The top income tax rate in South Korea is 45% for incomes over 1 billion KRW (roughly $730,000 USD), plus a local income tax of 10% of the national tax, bringing the total to 49.5%. For lower incomes, the rates are much lower, starting at 6% for income up to 14 million KRW (around $10,200 USD). Overall, South Korea won't surprise you with extremely high or low taxes. Its tax structure is pretty standard, so your take-home pay will likely be similar to what you’d experience in many other developed countries.