2018 Korean Income Tax Rate

From 2018, the top marginal income tax rate has increased from 40% to 42%. In addition to the individual income tax, local income tax (resident surtax) is assessed at 10% on the income tax liability.

Tax Base (in KRW)Tax Rate for 2017Tax Rate for 2018
Under 12,000,0006%6%
12,000,000 ~ 46,000,00015%15%
46,000,000 ~ 88,000,00024%24%
88,000,000 ~ 150,000,00035%35%
150,000,000 ~ 300,000,00038%38%
300,000,000 ~ 500,000,00038%40%
Over 500,000,00040%42%

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