Income Tax in 🇰🇷 South Korea
Tax brackets, effective rates, and net income calculations. Data from official government sources.
The Taxation Score of 49/100 reflects a moderate tax burden, with tax revenue at 28.8% of GDP and a corporate tax rate of 24%, plus a 10% VAT. Individual income tax brackets range from 6% for lower earners up to 45% for incomes exceeding 1 billion KRW, suggesting a progressive system where the median salary of $42,747 USD would fall into the 15-24% bracket after conversion. Expats should factor these rates into their financial planning.
Tax Overview
Top Rate
45.0%
VAT
10%
Capital Gains
22%
Fiscal Year
2025
Income Tax Brackets
Tax at Different Salary Levels
$50,000 USD equivalent
Gross: ₩68,493,151
Net: ₩56,984,446
Effective: 16.8%
$75,000 USD equivalent
Gross: ₩102,739,726
Net: ₩80,940,795
Effective: 21.2%
$150,000 USD equivalent
Gross: ₩205,479,452
Net: ₩138,842,781
Effective: 32.4%
Social Contributions (Employee)
Data last updated: · Sources: Official tax brackets and social contributions from South Korea fiscal authority. See methodology.