Comprehensive Employment and Tax Guide South Korea
General Overview
- Currency: South Korean Won (KRW)
- Languages: Korean
- Public Holidays: 16 days
- Capital: Seoul
- Fiscal Year: 1 January - 31 December
- Minimum Hourly Wage: 8,590 KRW/hour
Tax Essentials
- Income Tax Range: 6-42%
- Other Taxes: VAT 10%
Social Security Contributions
- Employer Charges: Employer contributions 8.33%
- Employee Charges: Employee contributions 4.5%
Employment Contracts & Conditions
- Contract Types: Permanent, Temporary
- Trial Periods: Up to 3 months
- Paid Holiday: 15 days per year
- Salary Payment Frequencies: Monthly
- Termination Notice: 1 month
Legal Benefits for Employees
- Medical Coverage: Public healthcare system
- Common Non-Compulsory Benefits: Housing allowance, transport allowance
Hiring Non citizen or resident
- Visa & Work Permits Obligation: Mandatory for non-citizens
- High-Skilled Worker Permits: Yes, specific work visa required
- Visa & Work Permits Timelines: 2-4 weeks, expedited visa services available for key industries in South Korea
The information provided on these countries serves as a general guideline and may
require verification and updates from legal sources or official websites.
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