Information about South Korea Minimum wage and taxes.
In South Korea, the minimum wage is calculated based on a set amount each year. As of 2021, the minimum wage in South Korea is set at 8,720 won (about $
7.80) per hour. Employees working in South Korea must pay taxes based on their income. Tax rates vary depending on income level. As of 2021, the income tax rates applied in South Korea are as follows: - Up to the first 12 million won (about $10,700) of income is taxed at 6%. - Income between 12 million won and 46 million won (approximately $41,100) is taxed at 15%. - Income between 46 million won and 88 million won (about $78,900) is taxed at 24%. - Income between 88 million won and 150 million won (approximately $134,700) is taxed at 35%. - Income above 150 million won is taxed at 38%. Additionally, social security premiums and other taxes are paid by employers and employees. These rates may vary depending on the employer and the employee's earnings. Taxation and social security systems in South Korea can be complex, so it is important to contact local tax and social security authorities to obtain accurate information.
What are the types of companies in South Korea?
What are the documents required to establish a company in South Korea?
South Korea Economic information
How to get a South Korea residence permit?
How to get a South Korea work permit?
Information about South Korea Minimum wage and taxes.
What are the most used websites in South Korea?
Detailed information about Education in South Korea.
South Korea Salaries by professions
What is South Korea's breakfast culture like?
What are the famous dishes of South Korea?
What are South Korean Drinks?
South Korea best football players
South Korea Football teams
South Korean Artists
Largest companies in South Korea
South Korean Brands
Most preferred car brand in South Korea
Information about the South Korean healthcare system and insurance system.
Information about South Korean Dances.
Information about South Korean Festivals.
Information about South Korea Marriage.
Information about South Korean Women.
Information about South Korean Men.
Detailed information about religious beliefs in South Korea.
Who are the South Korean statesmen?
What is the South Korean form of government?
South Korea Political parties
How has South Korea Fashion developed?
Possible trade activities in South Korea
Best universities in South Korea
Best schools in South Korea
Best schools in South Korea
What is the South Korean legal system like?
The greatest events in South Korean History
Most popular sports in South Korea
Information about South Korea Military strength and army structure.
Products exported to South Korea
South Korea Imported Products
South Korea Imported Products
High technology products produced in South Korea
Wars in which South Korea participated
South Korea's friend and foe countries
South Korea's friend and foe countries
Read: 33