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How it works
- A ₩40,000,000 salary pays about ₩2,935,813 a month after deductions (single person).
- Social insurance takes about 9.7% of pay: pension 4.75%, health 3.595%, employment 0.9% and more.
- Income tax comes from the official withholding table and falls as dependents rise. Local income tax adds 10%.
- Foreign workers can apply for a flat 19% income tax instead. This calculator uses the regular method.
Monthly take-home pay by annual salary (2026)
Single person (yourself only), meal allowance of ₩200,000 a month tax-free, severance paid separately.
| Annual salary | Monthly gross | Social insurance | Income taxes | Take-home |
|---|---|---|---|---|
| ₩30,000,000 | ₩2,500,000 | ₩223,490 | ₩32,070 | ₩2,244,440 |
| ₩40,000,000 | ₩3,333,333 | ₩304,440 | ₩93,080 | ₩2,935,813 |
| ₩50,000,000 | ₩4,166,666 | ₩385,400 | ₩209,680 | ₩3,571,586 |
| ₩60,000,000 | ₩5,000,000 | ₩466,430 | ₩338,160 | ₩4,195,410 |
| ₩80,000,000 | ₩6,666,666 | ₩628,330 | ₩671,250 | ₩5,367,086 |
| ₩100,000,000 | ₩8,333,333 | ₩717,020 | ₩1,085,390 | ₩6,530,923 |
Income taxes are income tax plus local income tax. Every number was calculated with the calculator above.
How take-home pay is worked out
Take-home = monthly gross − social insurance − income tax − local income tax
On ₩40,000,000 a year, monthly gross is ₩3,333,333. Social insurance takes ₩304,440 and taxes take ₩93,080, which leaves ₩2,935,813.
Social insurance: about 9.7% of your pay
Korea has four social insurances, called 4대보험 on payslips. Your employer takes your share from each paycheck:
- National Pension (국민연금): 4.75%, on pay up to ₩6,590,000 a month.
- Health Insurance (건강보험): 3.595%.
- Long-term care insurance (장기요양보험): 13.14% of the health insurance premium.
- Employment Insurance (고용보험): 0.9%.
Your employer also pays its own share on top of your salary. Industrial accident insurance is paid by the employer only.
Income tax: the monthly withholding table
Each month your employer withholds income tax (소득세) using the official simplified withholding table (revised February 27, 2026). The amount depends on your taxable pay and your number of dependents. Children aged 8 to 20 lower it further. Local income tax (지방소득세) is 10% of the income tax.
This monthly tax is an estimate. The real tax for the year is settled in the year-end tax settlement (연말정산) the following February, when you may pay more or get some back.
The 19% flat rate option for foreign workers
A foreign employee who first started working in Korea on or before December 31, 2026 can choose to pay income tax at a flat 19% of total employment income instead of the regular rates. It can be used for tax years ending within 20 years from the first day of work in Korea. Day laborers cannot use it, and some other cases are excluded.
With the flat rate, almost all tax-free allowances, deductions and tax credits no longer apply, and the income is not added to your other income. You must apply for it. This calculator uses the regular method only.
FAQ
What is the take-home pay for a 40 million won salary in Korea?
About ₩2,935,813 a month for a single person with a ₩200,000 tax-free meal allowance. Monthly gross is ₩3,333,333, minus ₩304,440 social insurance and ₩93,080 income taxes.
How much tax do foreigners pay in Korea?
Foreign employees pay the same social insurance and income tax as Koreans by default, which is what this calculator shows. A foreign worker who first started working in Korea by December 31, 2026 can instead apply for a flat 19% income tax on total employment income, with almost no deductions (Restriction of Special Taxation Act, Article 18-2).
What counts as a dependent?
Count yourself as 1, then add family members who qualify for the basic deduction, such as a spouse, parents or children with little or no income. Children aged 8 to 20 also go in the children box. With 4 dependents including 2 such children, income tax on ₩40,000,000 drops from ₩84,620 to ₩0 a month.
What is the tax-free meal allowance?
If your employer does not provide meals, a meal allowance of up to ₩200,000 a month is free of tax and social insurance. On ₩40,000,000 a year it raises take-home pay from ₩2,893,733 to ₩2,935,813.
Why is my payslip different from this result?
Bonus months, the first and last month of a job, other tax-free items, and your chosen withholding rate (80% or 120% of the table) all change the numbers. Some contracts also include severance pay in the annual salary, which means dividing by 13 instead of 12.
How much is 100 million won a year after tax in Korea?
About ₩6,530,923 a month for a single person. Of the ₩8,333,333 monthly gross, ₩1,802,410 goes to social insurance and taxes.
Sources
- Income Tax Act Enforcement Decree (소득세법 시행령) Appendix 2, simplified withholding table, revised February 27, 2026
- Income Tax Act (소득세법) Article 134 (monthly withholding) and Article 12 (tax-free meal allowance)
- Local Tax Act (지방세법) Article 103-13: local income tax of 10% of the withheld income tax
- National Pension Act (국민연금법), National Health Insurance Act (국민건강보험법), Long-Term Care Insurance Act (노인장기요양보험법) and Employment Insurance premium rules: 2026 rates
- Restriction of Special Taxation Act (조세특례제한법) Article 18-2: 19% flat rate for foreign workers, checked October 7, 2026 at law.go.kr
Rules last checked on October 7, 2026.
Not included
- The year-end tax settlement. Only the monthly withholding is shown.
- Bonus months and part months when you join or leave a job.
- The 19% flat rate for foreign workers, and tax treaty or other special exemptions.
- People aged 60 or older (no National Pension), and the 80% or 120% withholding option.
- Income tax below the minimum withholding of ₩1,000 is shown as zero, as in the official table.