Tax Guideline
Guidelines of corporation tax and personal income tax
 
    Branch Subsidiary
1. Corporation tax
A. Corporate tax rates  First 200 M: 10%

Next 20,000 M: 20%

Next 300,000 M: 22%

Balance   : 25%

Same as Branch
The following surtax is also applied:
Resident tax: 10% on corporation tax
B. Scope of taxation Korean source income World-wide income
C. Head office expense Allocable portion can be deducted N/A
2. Individual Income Tax
Income tax rates 

Assessable income less than KRW 12,000,000                      6%

More than KRW 12,000,000 up to KRW 46,000,000               15%

 More than KRW 46,000,000 up to KRW 88,000,000               24%

More than KRW 88,000,000 up to KRW 150,000,000             35%

More than KRW 150,000,000 up to KRW300,000,000           38%

More than KRW 300,000,000 up to KRW500,000,000           40%

More than KRW 500,000,000                             42%
Same as Branch
The following surtax is also applied for a resident:
Resident tax: 10% on income tax
3. Tax incentives
In both cases above, Hi-tech industries is tax exempted for foreign investment in Korea based on technological service promotion policy and technology inducement policy under the Tax Reduction Restriction Law
  • INAA GROUP
  • Compandben SA
  • High Street Partners
  • Invest Korea
  • Seoul Global Center
  • Knowing about Korea
  • National Tax Service
  • Minstry of Labor
  • National health Insurance
  • National Pension Service
  • Compensation & Welfare Service