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Annual salary calculator

See your monthly take-home pay in Korea from your annual salary, after the four social insurances and income tax, at 2026 rates.

Your details

₩

The yearly amount in your contract before tax. It is treated as paid in equal monthly amounts.

₩

Meal allowance is tax-free up to 200,000 won a month. Add other tax-free pay too, such as a car allowance or a childcare allowance for children aged 6 or under.

Count yourself, your spouse and the dependants you claim the basic deduction for. Leave out anyone whose yearly income is over 1 million won.

Count only children included in the family number.

Severance pay

Choose Included if your annual salary includes severance pay. Monthly pay is then one thirteenth of the salary.

Income tax withholding rate

On request, your employer can withhold 80% or 120% of the tax table amount. Most people use 100%.

The National Pension income limits change from the July payment, the long-term care ratio from the November 2026 payment, and the child deduction in the tax table from March.

Other conditions

National Pension is no longer compulsory from age 60, so nothing is withheld. Turn this off if you chose to keep paying.

Under Income Tax Act art. 86, income tax under 1,000 won is not withheld. Turn this off if your payroll software does not use this rule.

Result

Monthly take-home pay3,571,586 won
Total deductions595,080 won
Monthly pay4,166,666 won
Yearly take-home pay42,859,032 won
Monthly payAnnual salary ÷ 12
4,166,666 won
National Pension4.75% of standard monthly income
188,380 won
Health insurance3.595% of taxable pay
142,600 won
Long-term care insurance13.14% of health insurance
18,730 won
Employment insurance0.9% of taxable pay
35,690 won
Income taxSimplified tax table
190,620 won
Local income tax10% of income tax
19,060 won
Total deductions
595,080 won
Monthly take-home pay
3,571,586 won
Yearly take-home payMonthly take-home pay × 12
42,859,032 won
How it was calculated
  • Monthly pay = annual salary 50,000,000 won ÷ 12 = 4,166,666 won (amounts under 1 won dropped).
  • Taxable pay = monthly pay 4,166,666 won − tax-free 200,000 won = 3,966,666 won. The insurances and the tax table both use this amount.
  • National Pension = standard monthly income 3,966,000 won × 4.75% = 188,380 won. Standard monthly income is taxable pay with amounts under 1,000 won dropped, kept between 410,000 won and 6,590,000 won.
  • Health insurance = taxable pay 3,966,666 won × 3.595% = 142,600 won. One person's share is at least 10,080 won and at most 4,591,740 won a month.
  • Long-term care = health insurance 142,600 won × (0.9448% ÷ 7.19%) = 18,730 won. Up to the October 2026 payment this ratio (about 13.14%) is used without rounding; from the November payment it is rounded to 13.14%.
  • Employment insurance = taxable pay 3,966,666 won × 0.9% = 35,690 won.
  • Income tax: in the tax table, the cell for 3,960 to under 3,980 thousand won with a family count of 1 is 190,620 won. Multiplying by 100% and dropping amounts under 10 won gives 190,620 won.
  • Local income tax = income tax 190,620 won × 10% = 19,060 won.
  • Premiums and taxes drop amounts under 10 won (National Treasury Management Act art. 47 and related rules).

Good to know

  • This shows only what the employee pays. The employer's share is in the social insurance calculator.
  • Your payslip can differ. National Pension is charged on the standard monthly income set every July, and health insurance on the reported monthly pay, which is settled each April. Income tax is worked out again in the year-end tax settlement.
  • Tax-free pay is taken off both the insurance base and the tax table wage in the same way.
  • Income tax follows the simplified tax table (Enforcement Decree of the Income Tax Act, annex 2, for withholding from 1 March 2026). The child deduction is 20,830 won for one child, 45,830 won for two, and 33,330 won more for each child from the third. For the January and February 2026 payments it was 12,500, 29,160 and 25,000 won.
  • 2026 rates: National Pension 4.75% (standard monthly income from 410,000 to 6,590,000 won; up to the June payment, 400,000 to 6,370,000 won), health insurance 3.595%, long-term care 13.14% of health insurance, employment insurance 0.9%.

This is a guide, not tax or labor advice.

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