Why your contract and
your bank account disagree
Salary, severance, social insurance and jeonse conversion — estimated with verified 2026 Korean formulas and rates, with sources and unmodeled exceptions disclosed.
Reference data
Korea 2026 payroll & tax reference
These are the exact rates our calculators use. When a rate changes we update this table and the calculators together, and stamp the new verification date.
| Item | Employee | Notes | Effective |
|---|---|---|---|
| National Pension | 4.75% | 9.5% total, split evenly with the employer. After the 410,000–6.59M KRW income band and sub-10-won truncation, the employee share caps at 313,020 KRW. | Jul 2026 – Jun 2027 |
| Health Insurance | 3.595% | 7.19% of monthly remuneration, split evenly with the employer. Separate statutory premium floors and ceilings apply. | 2026 |
| Long-Term Care | 13.14% | Calculated on the health premium, not on salary. On a 3M KRW salary that is about 14,000 KRW. | 2026 |
| Employment Insurance | 0.9% | The employee's share of the unemployment benefit portion. Employers additionally pay employment stability and vocational training levies. | 2026 |
| Workers' Compensation | 0% | Nothing is deducted from the employee — the employer pays it in full, at industry-specific rates. | 2026 |
| Item | Value | Notes | Effective |
|---|---|---|---|
| Minimum Wage | 10,320 KRW | Monthly 2,156,880 KRW at the standard 209 hours. The 2027 rate is already confirmed at 10,700 KRW. | Jan 1 – Dec 31, 2026 |
| Freelancer Withholding | 3.3% | 3% income tax + 0.3% local tax. This is a prepayment, settled the following May. | 2026 |
| VAT | 10% | 10% of the supply value. To reverse it out of a total, divide by 1.1. | 2026 |
| Interest & Dividend Tax | 15.4% | 14% income tax + 1.4% local tax, withheld at source on deposit interest. | 2026 |
| Securities Transaction Tax | 0.20% | Raised on Jan 1, 2026. KOSPI: 0.05% tax + 0.15% rural development tax; KOSDAQ: 0.20%. Charged on sales only. | From Jan 1, 2026 |
| Jeonse→Rent Conversion Cap | 5.00% | The lower of (BOK base rate 3.00% + 2%p) and 10% per year. The cap rises whenever the Monetary Policy Board raises rates. | Reflects the Aug 27, 2026 rate hike |
Sources: National Pension Service — contribution base · Ministry of Health and Welfare — 2026 health premium rate · Ministry of Employment and Labor — employment-insurance contribution rates · National Tax Service — VAT taxpayer thresholds · Minimum Wage Commission — annual rates · Bank of Korea — base rate history · Last checked 2026-09-20. Rates change with legislation — always confirm against the primary source before filing or signing anything.
Calculators
What are you trying to work out?
All 16 calculators, grouped by what they answer. Salary, health, and transaction amounts stay in your browser; exchange lookup sends only currency codes, period, and date to the site API.
Pay & Leaving a Job
Breaks down why the number on your contract differs from the number in your account.
- Salary CalculatorMost usedAfter insurance and tax, what actually lands each month?
- Social Insurance CalculatorHow much pension, health plus long-term care, and employment insurance is deducted from pay?
- Severance Pay CalculatorIf I leave now, what is my severance after retirement income tax?
- Freelancer 3.3% Tax CalculatorWhat do I receive after 3.3% withholding, and what gross amount produces a target net?
Loans & Housing
Compares how rates and repayment structures change the total interest you pay.
Business & Investing
Separates VAT and estimates trading profit with the entered transaction costs.
Everyday Numbers
Common calculations, each with the rule it follows spelled out.
- Korean Age CalculatorWhat are my international, calendar-year, and Korean ages?
- Bill SplitterHow do we split a bill when everyone paid different amounts?
- Discount CalculatorWhat are the final price and savings after one discount rate?
- Scientific CalculatorTrigonometry and logarithms, right in the browser.
Health Metrics
Reference figures only — consult a clinician for diagnosis or treatment.
In-depth guides
The rules behind the numbers
For when a result needs explaining. Each guide works through real figures step by step.
Gross vs. Net Salary in Korea: Why the Gap? (2026 Guide)
A full breakdown of why your Korean contract salary differs from take-home pay — national insurance, income tax, and non-taxable allowances explained with 2026 rates.
Korean Severance Pay 2026: Calculation and Retirement Tax Explained
An overview of ordinary average-wage severance, 2026 retirement-income deductions, IRP tax deferral, and exceptions that require separate review.
When Does Refinancing a Loan Pay Off? A Break-Even Framework
An approximate refinancing framework that considers prepayment charges, other costs, and rate differences, with three illustrative scenarios.
5 Reasons BMI Alone Misleads — and What to Measure Alongside
Why BMI misclassifies muscular, elderly, or abdominally obese individuals — and which complementary metrics to use.
Korean VAT Filing for Self-Employed: 2026 Practical Guide
Simplified vs. general VAT, deductible purchases, a pre-filing checklist, and a worked example.
Korea's Unified Age Act: What Changed, What Didn't
Post-2023 age-system changes, and the military/alcohol/school contexts that still use year-age.
How we verify
What happens before a number ships
Accuracy comes before convenience. Even a single rate change goes through these steps.
- Check the primary sourceFigures are read from the issuing body — NTS, NPS, NHIS, Bank of Korea — not from secondary blogs.
- Test the boundariesAutomated tests cover zero, statutory caps and floors, and representative bracket boundaries.
- Cross-check expected valuesResults are checked against official examples or independently derived expected values; material gaps are investigated.
- Publish the basisThe formula and its source go on the methodology page, and each page carries its verification date.
FAQ
Frequently Asked Questions
How quickly are rate and law changes applied?
As soon as we can confirm the notice from the issuing body. When the Bank of Korea raised its base rate to 3.00% on August 27, 2026, we moved the statutory jeonse-to-rent conversion cap to 5.00% the same week. The homepage reference table and each calculator page show the date the figures were last checked against the source.
My result differs from my payslip. Why?
Results can differ because qualifying non-taxable pay, dependant count, social-insurance coverage exceptions, mid-month proration, bonus timing, and employer settlement methods differ. The calculator does not determine tax-exempt eligibility or every coverage exception, so use only qualifying amounts and compare the result with your payslip and employer rules.
Where do my salary or health inputs go?
Calculations run entirely in your browser and inputs are never sent to a server. Tools that keep a history (BMI, ovulation, bill splitting) store it only in your browser's localStorage, and each screen has a delete button. The site does use Google Analytics and Google AdSense to stay online, so visit statistics and advertising cookies are collected separately — the privacy policy sets out exactly what.
Where do the rates and formulas come from?
From primary sources including the National Tax Service, Korea Law Information Center, National Pension Service, National Health Insurance Service, Minimum Wage Commission, and Bank of Korea. Salary withholding uses the official table effective March 2026, and limited assumptions such as the simplified DC illustration are disclosed on the methodology page.
Can I use these results for a tax filing or a contract?
We would not recommend it. Results here are reference estimates built from published rates and formulas, and they cannot capture every personal deduction or special provision. For filings, contracts, or medical decisions, confirm with the responsible authority or a qualified professional.
I think a calculation is wrong. How do I report it?
Use the feedback button on the right of the screen, or the address on the contact page. Include the inputs and result so the report can be reproduced, reviewed, and used to improve the service.