Personal Tax in South Korea

Overview by
Tax Base For Residents and Non-Residents
Resident individuals are taxed on their worldwide income. Non-resident individuals are taxed only on Korean-source income.

Tax Rate

Up to KRW 12 million 7%
From KRW 12  to 46 million 16%
From KRW 46 to 88 million 25%
Over  KRW 88 million 34%
Allowable Deductions and Tax Credit
For information on tax for deductions for individuals in Korea access the Summary of Asia Trade Hub.
Special Expatriate Tax Regime
Expatriate have a special tax regime. It concerns especially National pension.
Capital Tax Rate
Real Property and Property of its kind: If lands, real estates or other properties are transferred, the capital gains tax shall be prorated according to the period of possession. For example, 50 percent for less than one year, 40 percent for one year to less than two years, and 9 percent to 36 percent for more than 2 years. In case the property is transferred before owner's registration, the tax rate will be 70 percent. Consult the business page of the Seoul website.

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