Taxes in Korea

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Taxes in Korea

Local income taxes will be deducted from your paycheck on a monthly basis.

Here is a breakdown of how much tax is assessed:

income tax (3-4% of salary)
resident tax (10% of the income tax)
national pension-plan contributions (4.5% of salary)
national health insurance premiums (2% of salary)

In many cases employers will only deduct around 4-7% from your total salary and will exclude deductions for the national pension plan. Find out what is happening and how the tax breakdown unfolds for you. This helps ensure you have medical coverage in Korea.

You don’t have to file a tax return in Korea.

Some teachers can get their national pension BACK.

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