Question 1

How is Korean take-home pay calculated?

Accepted Answer

Your gross salary minus 4 social insurances (National Pension 4.75%, Health Insurance 3.595%, Long-term Care 13.14% of health, Employment Insurance 0.9%) and income tax with 10% local surtax.

Question 2

What are Korea's 4 social insurances?

Accepted Answer

National Pension (국민연금), Health Insurance (건강보험), Long-term Care Insurance (장기요양보험), and Employment Insurance (고용보험). Employee pays roughly half; employer matches the other half.

Question 3

Do dependents affect Korean income tax?

Accepted Answer

Yes. Each dependent qualifies for a ₩1.5M basic deduction, lowering your taxable income and reducing income tax.