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5% on earnings of W4,000,000 or less
10% on earnings between W4,000,000 and W10,000,000
20% on earnings between W10,000,000 and W40,000,000
30% on earnings between W40,000,000 and W80,000,000
40% on earnings over W80,000,000
This is posted on a response to someone on the Q&A board concerning taxes in Korea. However, on your website, you have this posted:
26,000,000 won, out of which 780,000 won will be deducted as taxes.
This is a large selling point for working there, as the lower taxes would certainly allow me to save more money and live more comfortably, yet in the table above, someone making 26,000,000 will end up paying 20%. What numbers am I to believe?
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Tax concerns
