The Republic of Korea

Currency
South Korean won (KRW)
Payroll Frequency
Monthly
Employer Taxes
16.34% to 34.84%

About 

Korea South

South Korea is an East Asian country that occupies the southern half of the Korean Peninsula. It is a developed country with the world’s tenth largest economy by nominal GDP.

Overview

Population
51,709,098
Language
Korean
Capital
Seoul
Currency
South Korean won (KRW)
Country code
+82
Min wage
8,720 KRW per hour
Working hours
8 hours per day
Weekdays
Monday to Friday
Work hours per week
40 hours per week

Payroll

Cycle

Monthly

Avg employer tax

16.34% - 34.84%

Taxation

Tax breakdown - Employer
  • National pension: 4.50% (taxable monthly income capped at 5,030,000.00 KRW)
  • National health insurance: 3.83% (monthly contribution capped at 7,047,900.00 KRW)
  • Employment insurance: 1.05% - 1.65%
  • Long-term care insurance: 5.76% (monthly contribution capped at 345,600 KRW)
  • Worker accident compensation insurance: 0.70%-18.60% (rate depends on the type of business)
  • Resident tax: 0.50%
VAT

13%

Holidays / PTO

Public holidays in 2024
  • 1 Jan: New Year's Day
  • 1 Feb to 3 Feb: Seollal
  • 1 Mar: March 1st Movement Day
  • 5 May: Children's Day
  • 8 May: Buddha's Birthday
  • 6 Jun: Memorial Day
  • 15 Aug: Liberation Day
  • 9 Sep to 11 Sep: Chuseok
  • 3 Oct: National Foundation Day
  • 9 Oct: Hangeul Day
  • 25 Dec: Christmas Day
Sick days

South Korean workers are not entitled to statutory sick leave.

Maternity leave

All female employees are entitled to 90 days of paid maternity leave, which is covered by a range of government and employer payments the relative divisions of which are determined by the company’s size. Maternity leave is normally split into 45 days before the due date and 45 after. In the case of complicated or multiple births, paid maternity leave is increased to 120 days.

Paternity leave

Paid paternity leave is set at 10 days, with five paid by the employer and five by the government. The 10 days must be taken within the first 90 days after the child is born.

Termination

Termination Process

There is a standard process for termination of employment in South Korea. The process requires employees to give justifiable reasons or to prove that there is an urgent managerial need for the termination.

Notice Period

Standard practice is one month’s notice. However, this is not a legal requirement.

Severance Pay

Mandatory severance pay must be paid to all employees who have completed at least one year’s service. Rates of pay are set at one month’s salary for each year of employment.

Probation Period

Typical probationary periods are between one and three months.

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Tax Calculation

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KR
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Employer cost
Total monthly cost of employment
GBP 9,633
Gross monthly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net monthly salary
GBP 5,137
Gross monthly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
Employer cost
Total yearly cost of employment
GBP 9,633
Gross yearly salary costs
GBP 8,334
Estimated taxes and contributions
GBP 8,334
Employee cost
Net yearly salary
GBP 5,137
Gross yearly salary
GBP 8,334
Estimated taxes & social security
GBP 8,334
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The Republic of Korea

العملة
South Korean won (KRW)
تردد الرواتب
Monthly
ضرائب أصحاب العمل
16.34% to 34.84%

عن 

The Republic of Korea

South Korea is an East Asian country that occupies the southern half of the Korean Peninsula. It is a developed country with the world’s tenth largest economy by nominal GDP.

ملخص

التركيبة السكانية
51,709,098
اللغة
Korean
العاصمة
Seoul
العملة
South Korean won (KRW)
رمز الاتصال الدولي
+82
الحد الأدنى للأجور
8,720 KRW per hour
ساعات العمل
8 hours per day
أيام الأسبوع
Monday to Friday
ساعات العمل اسبوعيا
40 hours per week

الرواتب

موعد صرف الرواتب

Monthly

متوسط ​​ضريبة صاحب العمل

16.34% - 34.84%

تحصيل الضرائب

التوزيع الضريبي - صاحب العمل
  • National pension: 4.50% (taxable monthly income capped at 5,030,000.00 KRW)
  • National health insurance: 3.83% (monthly contribution capped at 7,047,900.00 KRW)
  • Employment insurance: 1.05% - 1.65%
  • Long-term care insurance: 5.76% (monthly contribution capped at 345,600 KRW)
  • Worker accident compensation insurance: 0.70%-18.60% (rate depends on the type of business)
  • Resident tax: 0.50%
ضريبة القيمة المضافة

13%

العطل / PTO

العطلات الرسمية في عام 2024
  • 1 Jan: New Year's Day
  • 1 Feb to 3 Feb: Seollal
  • 1 Mar: March 1st Movement Day
  • 5 May: Children's Day
  • 8 May: Buddha's Birthday
  • 6 Jun: Memorial Day
  • 15 Aug: Liberation Day
  • 9 Sep to 11 Sep: Chuseok
  • 3 Oct: National Foundation Day
  • 9 Oct: Hangeul Day
  • 25 Dec: Christmas Day
الإجازات المرضية

South Korean workers are not entitled to statutory sick leave.

إجازة الأمومة

All female employees are entitled to 90 days of paid maternity leave, which is covered by a range of government and employer payments the relative divisions of which are determined by the company’s size. Maternity leave is normally split into 45 days before the due date and 45 after. In the case of complicated or multiple births, paid maternity leave is increased to 120 days.

إجازة الأبوة

Paid paternity leave is set at 10 days, with five paid by the employer and five by the government. The 10 days must be taken within the first 90 days after the child is born.

إنهاء العقد

عملية الإنهاء

There is a standard process for termination of employment in South Korea. The process requires employees to give justifiable reasons or to prove that there is an urgent managerial need for the termination.

فترة الإشعار

Standard practice is one month’s notice. However, this is not a legal requirement.

مكافأة نهاية الخدمة

Mandatory severance pay must be paid to all employees who have completed at least one year’s service. Rates of pay are set at one month’s salary for each year of employment.

فترة الاختبار

Typical probationary periods are between one and three months.

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حساب الضريبة

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تكلفة صاحب العمل
إجمالي تكلفة التوظيف الشهرية
GBP 9,633
إجمالي تكاليف الراتب الشهري
GBP 8,334
الضرائب والمساهمات المقدرة
GBP 8,334
تكلفة الموظف
صافي الراتب الشهري
GBP 5,137
الراتب الشهري الإجمالي
GBP 8,334
الضرائب المقدرة والضمان الاجتماعي
GBP 8,334
Employer cost
إجمالي تكلفة التوظيف السنوية
GBP 9,633
إجمالي تكاليف الرواتب السنوية
GBP 8,334
الضرائب والمساهمات المقدرة
GBP 8,334
Employee cost
صافي الراتب السنوي
GBP 5,137
الراتب السنوي الإجمالي
GBP 8,334
الضرائب المقدرة والضمان الاجتماعي
GBP 8,334
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