Year-end tax refund calculator

Estimate your 연말정산 refund from card spending, rent, pension savings and more.

Based on 2026 Korean rates. Last updated: 2026-07

Total salary for the year (총급여)

₩

Taxable pay on your withholding receipt. Non-taxable allowances such as meals are excluded.

Income tax already paid (기납부세액)

₩2,658,730 · Estimated as the tax withheld on this salary with no extra deductions.

Dependents (including yourself)

Children aged 8–20

Use the 19% flat tax for foreignersWith the flat tax, deductions and credits below do not apply.

Card spending₩21,000,000

Credit cards

₩

Debit cards & cash receipts

₩

Traditional markets & public transport

₩

Housing & savings

Monthly rent paid this year

₩

For homeless heads of household with pay up to ₩80M whose address is registered at the rented home. Foreigners need a registered address too.

Pension savings & IRP contributions

₩

Other expenses

Insurance premiums

₩

Medical expenses

₩

Education expenses

₩

Donations

₩

Year-end tax statement

Estimated refund

₩375,380

Final tax (결정세액) ₩2,317,480 · Tax already paid ₩2,658,730

Breakdown

Tap a line to see the math

Total salary₩50,000,000
Earned income deduction−₩12,250,000
Personal deduction−₩1,500,000
1 × ₩1,500,000 = ₩1,500,000
Social insurance deduction−₩4,858,440
Card spending deduction−₩2,275,000
(₩21,000,000 − ₩12,500,000) × 15–40% = ₩2,275,000
Tax base₩29,116,560
₩50,000,000 − ₩20,883,440 = ₩29,116,560
Calculated tax₩3,107,484
Earned income tax credit−₩660,000
Standard tax credit−₩130,000
Final tax (결정세액)₩2,317,480
₩3,107,484 − credits ₩790,000 = ₩2,317,480
Tax already paid₩2,658,730
₩2,658,730
Estimated as the tax withheld on this salary with no extra deductions.
Tax paid − final tax₩341,250
₩2,658,730 − ₩2,317,480 = ₩341,250
Local income tax (10%)₩34,130
10% of the difference = ₩34,130

Adding ₩1,000,000 to a pension savings account or IRP would increase your refund by ₩165,000.

Card spending only counts above ₩12,500,000 (25% of your pay). Above that, debit cards earn twice the deduction of credit cards.

Inputs are saved on this device only.

Results are estimates for reference only and are not tax or legal advice. Actual amounts can differ depending on your contract, employer and individual circumstances.

How it is calculated

What is year-end tax settlement (연말정산)?

Every month your employer withholds income tax using a simplified table. In January and February of the following year, the employer recalculates your exact tax for the year using your deductions and credits. If you paid more than the final tax, the difference is refunded with your February or March salary; if you paid less, it is deducted. Foreign employees go through the same process.

Deductions that make the biggest difference

Card spending counts only above 25% of your pay; beyond that, credit cards earn a 15% deduction, debit cards and cash receipts 30%, and traditional markets and public transport 40%. Monthly rent earns a 15–17% tax credit on up to ₩10 million a year, and pension savings or IRP contributions earn 12–15% on up to ₩9 million. These three items usually decide whether you get money back.

How this estimate works

The calculator applies 2026 rules: the earned income deduction, ₩1.5 million per dependent, social insurance deductions, the progressive tax rates, the earned income and child credits, and either your itemized special credits or the ₩130,000 standard credit, whichever is larger. Some limits for specific family members and special cases are simplified, so treat the result as an estimate and check it in Hometax's simplified service.

Frequently asked questions

›When will I get my year-end tax refund?

Most employers pay it with the February or March salary. If you settle by yourself in May through a comprehensive income tax return, the refund usually arrives in June.

›Should foreigners choose the 19% flat tax?

Only high earners usually benefit, and with the flat tax you lose all deductions and credits. Try both options in the calculator before deciding.

›Can I claim monthly rent as a foreigner?

Yes, if you are a homeless head of household (or registered as such), your total pay is ₩80 million or less, and your address is registered at the rented home. Keep your lease and transfer records.

›Why do I have to pay more tax?

If too little was withheld during the year, for example because of a job change or a large bonus, the final tax is higher than what you already paid and the difference is deducted from your salary.