South Korea
KRWSouth Korea uses an eight-band income tax with a top rate of 45%, plus a 10% local income tax. The four mandatory insurances — national pension, health, employment, and long-term care — total around 9.4% for the employee. A standard earned-income deduction reduces the taxable base substantially.
- Top marginal
- 45%
- Personal allowance
- ₩1,500,000
- Employee social
- 9.4%