How to Read a Korean Payslip: A Guide for Foreign Workers
If you work in Korea, your payslip (급여명세서, geuphyeo myeongseseo) is usually written only in Korean. This guide explains each line so you can check that your pay is correct, using a monthly salary of about ₩4.17 million as an example.
The two halves of a payslip
A Korean payslip has two parts. 지급 내역 (payments) lists everything your employer pays you. 공제 내역 (deductions) lists what is taken out before the money reaches your bank account. The amount you receive is 실수령액 (take-home pay), which is payments minus deductions.
Payments (지급 내역)
| Korean | English | What it means |
|---|---|---|
| 기본급 | Base pay | Your fixed monthly salary. |
| 식대 | Meal allowance | Up to ₩200,000 a month is tax-free and is not counted for social insurance. |
| 연장근로수당 | Overtime pay | Pay for hours beyond the standard working hours. |
| 야간근로수당 | Night work pay | Extra pay for work late at night. |
| 휴일근로수당 | Holiday work pay | Extra pay for work on rest days or public holidays. |
| 상여금 | Bonus | Bonus payments, if your contract includes them. |
Deductions (공제 내역)
| Korean | English | Your share (2026) |
|---|---|---|
| 국민연금 | National Pension | 4.75% of pay (capped at ₩6,590,000 of monthly pay) |
| 건강보험 | Health Insurance | 3.595% of pay |
| 장기요양보험 | Long-term Care Insurance | 13.14% of your health insurance amount |
| 고용보험 | Employment Insurance | 0.9% of pay |
| 소득세 | Income tax | Set by the National Tax Service withholding table |
| 지방소득세 | Local income tax | 10% of your income tax |
The first four are called 4대보험, the "four major insurances". Your employer pays its own share of each on top of your salary. Industrial accident insurance (산재보험) is paid entirely by the employer and does not appear in your deductions.
Worked example
Annual salary ₩50,000,000, paid in 12 months, with a ₩200,000 tax-free meal allowance, single with no dependents:
| Monthly gross pay | ₩4,166,667 |
| National Pension | − ₩188,380 |
| Health Insurance | − ₩142,600 |
| Long-term Care Insurance | − ₩18,730 |
| Employment Insurance | − ₩35,690 |
| Income tax (withholding table) | − ₩190,620 |
| Local income tax | − ₩19,060 |
| Take-home pay | about ₩3,571,587 |
About 14% of gross pay is deducted. Income tax comes from the official withholding table (effective March 1, 2026), the same table employers use, so it should match your payslip when the same pay and dependents are entered. The insurance lines can differ by a few won because of rounding.
Three things foreign workers often ask
Why is my income tax different every year in February?
Each February, employers run the year-end tax settlement (연말정산). If too much tax was withheld during the year, you get money back. If too little was withheld, extra tax is taken from your pay. This is normal.
Can I get my National Pension back when I leave Korea?
It depends on your nationality and Korea's agreement with your country. Many foreign workers can claim a lump-sum refund (반환일시금) when they leave Korea for good. Check with the National Pension Service before you leave, because the rules differ by country.
Do the rates change?
Yes. National Pension rises by 0.5 percentage points (total) each year from 2026 until it reaches 13% in 2033, and the health insurance rates are set again each year. The pension cap changes every July.
Check your own payslip
Enter your annual salary, meal allowance and number of dependents in the calculator to see the expected deduction for each line. If a line on your payslip is very different, ask your employer's payroll staff which items are included.
This guide is general information, not tax or legal advice. Rules for some visa types and employer sizes can differ.
This article is general information, not tax or legal advice.