BudgetWon
BUDGETWON · FOR FOREIGN WORKERS

What will you actually take home?

Korean contracts quote gross salary (연봉) — your paycheck lands 15–25% lighter. See the full deduction breakdown, and whether the foreigner-only 19% flat tax saves you money.

₩50,000,000
Spouse, children or parents you support. Adds ₩1.5M deduction each.
Most Korean contracts include a tax-free meal allowance inside the quoted salary. Check your offer letter.
19% FLAT TAX CHECK
The standard progressive rate saves you ₩7,193,946 per year.
Break-even sits around ₩165M annual gross — below that, progressive almost always wins.
Foreign workers can elect a flat 19% rate (plus local tax) instead of progressive rates, but lose all deductions and credits. Eligibility is limited to the first 5 years from your initial Korean work-start date. Election is made via your employer or year-end settlement. Read the full guide →
Progressive take-home
₩3,564,100
Flat 19% take-home
₩2,964,605
PAYSLIP
MONTHLY BREAKDOWN
BEST OPTION: PROGRESSIVE
GROSS PAY
annual base
₩4,166,667
NATIONAL PENSION
4.5% of base
-₩178,500
HEALTH INSURANCE
3.545% of base
-₩140,618
LONG-TERM CARE
12.95% of health
-₩18,210
EMPLOYMENT INS.
0.9% of base
-₩35,700
INCOME TAX
progressive rate
-₩208,671
LOCAL INCOME TAX
10% of income tax
-₩20,867
NET PAY
effective tax 5.5%
₩3,564,100
Estimate only · standard deductions
CONFIRM WITH PAYROLL OR THE NTS
LEAVING KOREA FOR GOOD?
Nationals of many countries can claim their National Pension contributions back as a lump-sum refund when permanently leaving Korea. Check your eligibility with the NPS before departure.
ASSUMPTIONS & LIMITS
  • Single filer, basic personal deduction only — no medical, education or pension-savings credits.
  • Flat 19% rate is available only during the first 5 years of Korean employment from your initial work-start date.
  • Pension contribution capped at ₩6,370,000 monthly base income (2026).
  • Year-end settlement (연말정산) refund or additional tax not modelled.
  • Local tax = 10% of national income tax (지방소득세).
  • For binding numbers, confirm with your employer’s payroll team or the National Tax Service (홈택스).

Rates last reviewed 2026-06 · Not tax advice — confirm with a professional or NTS