Tax Rates for Individuals vs Corporations in Korea

Tax Base (in KRW)Tax Rate for 2017 and beforeTax Rate for 2018 and after
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%

 

Corporate Income Tax Rate

Tax Base (in KRW)Tax Rate for 2018 and after
Under 200,000,00010%
200,000,000 ~ 20,000,000,00020%
20,000,000,000 ~ 300,000,000,00022%
Over 300,000,000,00025%

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