Korea Net Salary 2027 Calculator (실수령액)
Calculate Korea take-home pay 2027 after income tax + 4대보험 (4 major insurances): national pension (4.5%), health (3.545% + 12.81% LTC of health), employment (0.9%), industrial accident (employer only). Source: nts.go.kr, nps.or.kr, nhis.or.kr.
Korea 4대보험 2027 Breakdown
Korea's 4 mandatory insurances: (1) National Pension (국민연금) 9% split 50/50 employer-employee (4.5% each), cap ₩5,900,000/month. (2) Health Insurance (건강보험) 7.09% split 50/50 (3.545% each) + LTC 12.81% of health = 0.4544% extra. (3) Employment Insurance (고용보험) 1.8% split (employee 0.9%). (4) Industrial Accident (산재보험) 0.7-3.8% employer only. Source: 4insure.or.kr.
Income Tax Withholding — 간이세액표 Table
Korean employers withhold income tax monthly using NTS's simplified tax table (간이세액표). The table accounts for taxable income tier and number of dependents. Year-end settlement (연말정산) in January-February reconciles withheld vs actual tax based on full-year deductions (insurance premiums, mortgage interest, credit card spending, dependents, etc.).
Year-End Settlement (연말정산) — Refund Time
Every January-February employees submit deduction proofs through National Tax Service's website (홈택스). Common refundable deductions: credit card spending above 25% of salary, mortgage interest, education expenses, medical bills above 3% of salary, donations, pension savings (max ₩7M tax credit), housing accounts. Average refund: ₩300k-2M depending on deductions.
Korea Tax-Saving Strategies
(1) Max ₩7M annual pension savings (퇴직연금/IRP) — 13.2% or 16.5% tax credit. (2) Use credit cards above 25% of salary (15-30% deduction on excess). (3) Housing-account savings (주택청약) — 40% tax credit on first ₩2.4M. (4) Long-term equity investment via ISA — tax-free up to ₩2M/year. Source: nts.go.kr.