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Tax Rates

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Income Tax Rates

  • Income Tax Rates (2023)
    ■ For the period from 2023 onwards
    Tax base Tax rate(%) Progressive deduction amount
    14 million won or less 6% -
    More than 14 million won 15% 1,260,000
    50 million won or less
    More than 50 million won 24% 5,760,000
    88 million won or less
    More than 88 million won 35% 15,440,000
    150 million won or less
    More than 150 million won 38% 19,940,000
    300 million won or less
    More than 300 million won 40% 25,940,000
    500 million won or less
    More than 500 million won 42% 35,940,000
    1 billion won or less
    More than 1 billion won 45% 65,940,000
  • Income Tax Rate (by year)
    ■ For the period from 2010 to 2011
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000

    (*) The highest tax rate reduction is applied with a 2-year deferment.

    ■ For the period from 2012 to 2013
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000
    More than 300 million won 38% 23,900,000

    (*) A new top bracket has been established.

    ■ For the period from 2014 to 2017
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000
    150 million won or less
    More than 150 million won 38% 19,400,000

    (*) A new top bracket has been changed.

    ■ 2017
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000
    150 million won or less
    More than 150 million won 38% 19,400,000
    500 million won or less
    More than 500 million won 40% 29,400,000
    ■ For the period from 2018 to 2020
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000
    150 million won or less
    More than 150 million won 38% 19,400,000
    300 million won or less
    More than 300 million won 40% 25,400,000
    500 million won or less
    More than 500 million won 42% 35,400,000
    ■ For the period from 2021 to 2022
    Tax base Tax rate(%) Progressive deduction amount
    12 million won or less 6% -
    More than 12 million won 15% 1,080,000
    46 million won or less
    More than 46 million won 24% 5,220,000
    88 million won or less
    More than 88 million won 35% 14,900,000
    150 million won or less
    More than 150 million won 38% 19,400,000
    300 million won or less
    More than 300 million won 40% 25,400,000
    500 million won or less
    More than 500 million won 42% 35,400,000
    1 billion won or less
    More than 1 billion won 45% 65,400,000
    ■ For the period from 2023 onwards
    Tax base Tax rate(%) Progressive deduction amount
    14 million won or less 6% -
    More than 14 million won 15% 1,260,000
    50 million won or less
    More than 50 million won 24% 5,760,000
    88 million won or less
    More than 88 million won 35% 15,440,000
    150 million won or less
    More than 150 million won 38% 19,940,000
    300 million won or less
    More than 300 million won 40% 25,940,000
    500 million won or less
    More than 500 million won 42% 35,940,000
    1 billion won or less
    More than 1 billion won 45% 65,940,000
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