Korea Year-End Settlement (연말정산) 2027 Refund Calculator

Estimate your Korea year-end settlement (연말정산) refund for 2026 tax year. Major deductions: credit card spending above 25% of salary, pension savings (퇴직연금/IRP) up to ₩7M, housing-account, mortgage interest, medical above 3%, donations. Source: nts.go.kr.

Above 25% of salary threshold deductible
Up to ₩7M, 13.2% tax credit
Above 3% of salary deductible
Estimated Refund
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Or additional tax owed
Credit Card Deduction
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Pension Tax Credit
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Medical Deduction
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Total Refund
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Effective Rate
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Top Saving Tip
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Credit Card Spending Deduction Calculation

Spending above 25% of annual salary qualifies for deduction. Deduction rate: 15% for regular credit cards, 30% for debit/check cards and cash receipts, 40% for traditional markets, 30% for public transport. Maximum deduction ₩3M (up to ₩7M with adders). Example: ₩50M salary × 25% = ₩12.5M threshold. Spending ₩20M → ₩7.5M excess → 15-30% deduction. Source: National Tax Service.

Pension Savings — ₩7M Tax Credit Cap

퇴직연금/IRP contributions up to ₩7M/year qualify for tax CREDIT (not deduction). Credit rate 13.2% (annual income ≤₩55M) or 16.5% (≤₩45M low-income). Example: ₩7M contribution × 13.2% = ₩924,000 direct tax refund. ISA-conversion-to-pension also adds ₩3M/year additional credit. Source: nts.go.kr.

Housing-Related Deductions

Mortgage interest: 100% deductible up to ₩18M for 10-15 year fixed, ₩20M for 15+ year fixed, capped at total mortgage interest paid. Housing-account savings (주택청약): 40% deduction on first ₩2.4M (max ₩960k deduction). Long-term renters (rent up to 75% of regional median): 12% credit on rent up to ₩7.5M. Source: National Tax Service.

Documentation Required and Filing Method

Most deductions auto-loaded into NTS's 연말정산 간소화 service (홈택스). Login with public certificate, accept system-fetched data, manually add items not auto-loaded (some donations, foreign expenses). Submit to employer by March. Refund typically arrives April-May via bank deposit. Source: hometax.go.kr.