When is 연말정산?

January-February each year for prior year's income.

Through HomeTax (홈택스) or employer.

Korea Year-End Jeongsan Tax Credit 2026 Calculator

Korean 연말정산 (Year-End Tax Settlement) 2026: refundable when withholding > actual tax. Major credits: credit card (15-30% of usage above 25% of income), insurance premiums (12% credit), pension contributions (12-15% credit), medical expenses (15% above 3% income), education credits.

Annual gross income (₩000K)

Credit card usage (₩000K)

Pension contribution (₩000K)

Medical expenses (₩000K)

Year-End Settlement Process

Employer collects monthly withholding. Year-end employee submits documentation (medical receipts, education, insurance, pension). Employer refunds difference via January-February payroll.

Credit Card Deduction

Usage above 25% of income = 15% credit (30% for traditional markets/public transport). Max ₩3M deduction.

Common Credits

Pension 12-15%. Insurance premium 12%. Medical 15% above 3%. Education varies by tier. Donations 15-30%.

Source and Disclaimer

nts.go.kr 연말정산. Final amounts depend on individual circumstances.

Source: nts.go.kr. Last updated: May 2026.