💰 South Korea Salary Take-Home Pay Calculator
Enter your annual salary (연봉) to see what actually lands in your Korean bank account each month after the four social insurances and income tax. Based on 2026 rates.
Estimated monthly take-home pay
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Take-home pay by annual salary (using the settings above)
How to use this calculator
- Enter the annual salary written in your contract (연봉). Korean contracts quote salary before tax and insurance.
- Check whether severance is included in the salary. Most contracts pay severance separately (salary ÷ 12 per month), but some quote a package where 1/13 is set aside for severance (salary ÷ 13 per month).
- Leave the non-taxable allowance at ₩200,000 if you receive a meal allowance (most office jobs do). Set it to 0 if you don't.
- Enter the number of dependents (including yourself) and children aged 8–20. More dependents lower the income tax withheld.
The result shows your estimated monthly net pay, the breakdown of each deduction, and a table of take-home pay for salaries from ₩24M to ₩120M using the same settings.
What gets deducted from a Korean paycheck (2026 rates)
- National Pension (국민연금) — 4.75% employee share (9.5% total, split 50/50 with the employer). Applied to monthly income between ₩410,000 and ₩6,590,000 (July 2026 – June 2027 bracket), so the deduction is capped at about ₩313,000.
- National Health Insurance (건강보험) — 3.595% employee share (7.19% total).
- Long-term Care Insurance (장기요양보험) — 13.14% of your health insurance premium, roughly 0.47% of pay.
- Employment Insurance (고용보험) — 0.9% employee share.
- Income tax (근로소득세) — withheld monthly using the National Tax Service simplified withholding table. This calculator reproduces the table's formula (earned income deduction → personal deductions → insurance deductions → progressive rates 6–45% → earned income tax credit and child tax credit), so results usually land within a few thousand won of a real payslip.
- Local income tax (지방소득세) — 10% of the income tax.
- Non-taxable allowances (비과세) — a meal allowance of up to ₩200,000/month is tax-free and excluded from insurance. Car maintenance allowances and childcare allowances (child aged 6 or under) can also be non-taxable; add them to the same box.
Notes for foreign employees
- National Pension — foreigners generally pay in, but citizens of some countries are exempt under reciprocity rules, and many nationalities (including those covered by a social security agreement, such as the US, Canada and Australia) can claim a lump-sum refund (반환일시금) when leaving Korea for good. If you are exempt, the real take-home is higher by the pension line.
- Employment Insurance — mandatory for F-2, F-5 and F-6 visa holders and now for most E-9/H-2 workers; for some other visa types it is optional. If you are not enrolled, remove that line mentally.
- Flat 19% tax option — foreign employees may elect a single flat income tax rate of 19% on gross pay (no deductions) instead of the progressive system. It usually only pays off at high salaries (roughly ₩100M+). Talk to your payroll team before year-end settlement.
- Year-end tax settlement (연말정산) — the monthly withholding is an estimate; in January–February your employer reconciles it, and you may get a refund or owe more.
Rates and tax law change every year. This is an estimate for planning; the exact amount on your payslip depends on your employer's withholding choice (80/100/120%), your allowances and year-end settlement.
Quick reference: take-home pay by salary
| Annual salary | Monthly gross | Monthly net (approx.) | Withheld |
|---|---|---|---|
| ₩30,000,000 | ₩2,500,000 | ₩2,241,700 | 10.3% |
| ₩40,000,000 | ₩3,333,333 | ₩2,912,400 | 12.6% |
| ₩50,000,000 | ₩4,166,667 | ₩3,553,700 | 14.7% |
| ₩60,000,000 | ₩5,000,000 | ₩4,188,800 | 16.2% |
| ₩70,000,000 | ₩5,833,333 | ₩4,823,900 | 17.3% |
| ₩100,000,000 | ₩8,333,333 | ₩6,587,100 | 21.0% |
Single employee, ₩200,000 meal allowance, severance paid separately. As a rule of thumb, you keep about 85–90% of a mid-range Korean salary; the share withheld rises with income because of the progressive tax brackets.
Tips
- Comparing job offers — always compare offers on the same basis. A "₩52M including severance" package pays less per month than a "₩48M + severance" offer.
- Converting to your home currency — multiply the net monthly figure by the current KRW exchange rate; don't convert the gross salary, since the deductions are in won.
- Housing — if your employer provides housing or a housing allowance, ask whether it is taxable; taxable allowances should be added to the salary.
FAQ
How much is ₩40 million a year after tax in Korea?
With a ₩200,000 meal allowance and no dependents, a ₩40M salary gives about ₩2,912,000 per month (roughly ₩34.9M a year) after social insurance and income tax.
Why is my payslip slightly different from this calculator?
Employers use the National Tax Service simplified withholding table, which this tool approximates with the same formula. Differences of a few thousand won come from rounding in the table, a different withholding ratio (80%, 100% or 120%) or different non-taxable items.
What does "severance included" (퇴직금 포함) mean?
The quoted salary is divided by 13 instead of 12: you get 12 parts as monthly pay and the 13th part is reserved as severance. Your monthly pay is lower than a contract with the same number that pays severance separately.
Do foreigners pay the same tax as Koreans?
Mostly yes — foreign residents are taxed on Korean employment income with the same progressive rates and insurance. Two differences: you may elect a flat 19% income tax rate, and National Pension may be exempt or refundable as a lump sum depending on your nationality.
Can I get my National Pension contributions back when I leave Korea?
Many foreigners can claim a lump-sum refund (반환일시금) after leaving Korea permanently, depending on reciprocity or a social security agreement with their country. Apply through the National Pension Service, ideally before departure.