Tax Rate of Korea
Corporate Tax

First 200 M   10%
Next 20,000 M   20%

Next 300,000 M

Balance

 

22%

25%

The following surtax is also applied
Local government income tax   10% on corporation tax



Individual Income Tax

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 KRW 300,000,000

More than 300,000,000 up to KRW 500,000,000

More than KRW 500,000,000

 

38%


40%


42%

The following surtax is also applied
Local government income tax   10% on individual income tax
  • 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