If you have a side gig alongside a job, work as a freelancer, or earn rental or financial income in Korea, you file comprehensive income tax in May. "Am I on the hook? How much will it be?" Here's the 2026 rate table, filing steps, and tax-saving points in one place.
What it is
It combines your various income streams and taxes the total. If you only have one job and finished year-end settlement, you usually don't file. But the following income triggers a May filing.
| Included income | Examples |
|---|---|
| Business | Self-employed, freelancers (3.3%), platform work |
| Employment | Two or more salaries combined |
| Interest/dividends | Combined if over 20M won/yr |
| Rental | Housing/commercial rent |
| Other/pension | Other income, certain private pensions |
2026 rate table
Tax applies to your tax base (income minus deductions) as base × rate − progressive deduction.
| Tax base | Rate | Deduction |
|---|---|---|
| ≤ 14M won | 6% | – |
| 14M – 50M | 15% | 1.26M |
| 50M – 88M | 24% | 5.76M |
| 88M – 150M | 35% | 15.44M |
| 150M – 300M | 38% | 19.94M |
| 300M – 500M | 40% | 25.94M |
| 500M – 1B | 42% | 35.94M |
| Over 1B | 45% | 65.94M |
Rates are progressive — only the portion above each bracket is taxed at the higher rate, so your effective rate is lower than your marginal one. Same idea as US tax brackets.
Example: 60M won base
A freelancer with a 60M-won tax base falls in the 24% bracket: 60M × 24% − 5.76M = 8.64M won. Subtract taxes already withheld (the 3.3%) to see whether you owe more or get a refund.
Key deductions
| Deduction | Detail |
|---|---|
| Business expenses | Ledger or expense-rate basis |
| Personal | Self and dependents |
| Pension account credit | Pension savings / IRP |
| Noran Umbrella | Small-business owner deduction |
| Medical/education/donations | If criteria met |
Income deductions cut the tax base; tax credits cut the tax itself. Use both.
How and when to file
- Window — May 1–31 (June for honest-filing taxpayers).
- How — Hometax / mobile Sontax e-filing; a "pre-filled" notice makes it simple.
- Local income tax — an extra 10% of the income tax.
Missing the deadline brings a 20% non-filing penalty; if you're owed a refund, you simply don't get it. See the tax calendar.
FAQ
I have a job and a small side income — file?
Generally yes, if you have business or other income beyond salary. See side-job tax.
I'm a freelancer taxed 3.3% — pay again?
The 3.3% is prepaid tax. You settle in May and often get a refund.
Is my whole income taxed at 24%?
No — only the portion above the bracket (progressive). The deduction reflects that.
Two words: combine and progressive. Know your bracket and how much you've prepaid, and it's not scary. If you qualify, don't miss May.
This is general tax information, not tax advice. Income and deductions vary — check Hometax or a tax professional. See also freelancer refunds and VAT guide.
