Working in Korea: Money Basics
Your payslip → income tax (19% flat vs progressive) → pension refund → severance → health insurance → visas → leaving Korea. 14 parts, in the order you will meet them.
Most English guides to Korean money are either a government PDF or a remittance company's blog. This course walks through the money side of working in Korea in the order it happens: your first payslip, the four insurances, the tax choice every foreigner gets, the pension you can claim back when you leave, and the visa rules that decide what you can earn. Every number is the 2026 rule, dated, with a source — and most parts have a calculator that uses the same tables as our Korean-language sister site.
- 1 Korean Salary ExplainedKorean payslip deductions in 2026: pension 4.75%, health 3.595%, employment 0.9%, income tax (progressive or the foreigner 19% flat rate). Net-pay calculator. Calculator
- 2 Korea's 19% Flat Tax for Foreign WorkersForeigners in Korea can elect a 19% flat income tax (20.9% with local) instead of 6–45%. It only wins above ≈₩160M. Break-even calculator, 21% proposal. Calculator
- 3 Year-End Tax Settlement (연말정산) for Foreigners in KoreaHow Korea's Jan–Feb year-end tax settlement works for foreign employees: Hometax, the credits you can claim (rent, cards, pension savings) and refund timing. Calculator
- 4 National Pension Refund for Foreigners Leaving Korea (2026)Korea refunds National Pension (yours + employer's, 9.5% in 2026) to 24 agreement countries, 26 reciprocity countries and E-8/E-9/H-2 visas. Checker inside. Calculator
- 5 Severance Pay in Korea for Foreign Workers (2026)Every employee in Korea with 1+ year at 15+ hours a week gets severance: 30 days' average wage per year, paid within 14 days. Calculator incl. retirement tax. Calculator
- 6 Korean National Health Insurance for Foreigners (2026)NHIS for foreigners in 2026: employees pay 3.595% + long-term care; others join after 6 months at a ₩158,630/month minimum. Estimator, dependents, arrears. Calculator
- 7 Unemployment Benefits in Korea for Foreigners (2026)F-2/F-5/F-6 holders are insured automatically; E-7 and other E-visas only if enrolled; E-9/H-2 only with the unemployment option. 2026 benefit calculator. Calculator
- 8 Korea Minimum Wage 2026 for Foreign WorkersKorea's 2026 minimum wage: ₩10,320/hour = ₩2,156,880/month with weekly holiday pay (₩10,700 in 2027). Overtime 1.5×, probation 90%, E-9 housing caps. Calculator
- 9 E-7 Visa Korea 2026Korea's E-7 work visa in 2026: salary floors by subcategory (₩31.12M / ₩25.89M / ₩26M), degree rules, the 20% employer ratio, E-7-4 points. Threshold checker. Calculator
- 10 E-9 (EPS) Workers in Korea 2026What an E-9 worker takes home in 2026: ₩10,320 minimum wage, overtime, legal housing deductions, insurance, tax — plus departure insurance and pension refund. Calculator
- 11 Korea Digital Nomad Visa (F-1-D) 2026Korea's workation visa is permanent since June 30, 2026. Income needed: ₩52.4M–104.8M a year by age and region (Seoul area vs outside). Checker, documents. Calculator
- 12 D-10 Job-Seeker and F-2-7 Points Visa in Korea (2026)Korea's points visas: D-10 job-seeker (60 of 190 points, up to 3 years since 2025) and F-2-7 residence (80 of 170), which frees you from employer sponsorship.
- 13 Teaching English in Korea 2026E-2 teacher pay in 2026: EPIK ₩2.2–2.8M + housing, hagwons ₩2.3–2.5M, plus severance, flights and (some nationalities) a pension refund. Contract calculator. Calculator
- 14 Leaving Korea: The Money Checklist (2026)Your last month in Korea, in order: pension refund, severance, mid-year tax settlement, IRP withdrawal, NHIS closure, sending money home, deposit, ARC return.
※ This guide is general information for foreign residents of Korea, not tax, legal or immigration advice. Rules differ by visa, nationality and tax treaty and change every year; confirm with the National Tax Service (126 → 7), NPS (1355), NHIS (033-811-2000) or Immigration (1345) before acting.