Korean Tax Blog

Do Foreigners Working Remotely in Korea Have to Pay Korean Tax? “I work for a foreign company, but I live and work remotely from Korea. Do I have to pay Korean tax?” This is becoming an increasingly common question among foreigners living in Korea. The answer depends on factors such as your tax residency, where you perform your work, and the nature of your employment and income. Working for a Foreign Company Doesn't Automatically Mean No Korean Tax Some people assume that if

Korea’s Exit Tax: What Foreigners Leaving Korea Need to Know “I’m planning to leave Korea and move abroad. Will I have to pay tax on the stocks I own?” If you are a foreigner living and working in Korea and planning to move abroad, it is important to understand Korea’s Exit Tax before you leave. What Is Korea’s Exit Tax? Korea’s Exit Tax may apply to unrealized gains on certain stocks and other assets when a person who meets specific requirements leaves Korea. In simple terms

Korea Crypto Tax: What Will Change in 2027? “If I sell my cryptocurrency for a profit, will I have to pay tax in Korea?” This is an important question for foreigners living and investing in Korea. Korea’s taxation system for income from virtual assets is scheduled to take effect on January 1, 2027. The implementation has been postponed several times, including another two-year postponement through tax legislation enacted in December 2024. Under the current rules, income from

Working as a Freelancer in Korea? What Taxes Should Foreigners Know About? “I’m working as a freelancer in Korea. Do I need to pay Korean taxes?” This is a common question among foreigners who work independently, provide services, or earn income outside of a regular employment contract. The answer depends on the type of work you do and how your income is classified for Korean tax purposes. 1. Freelancer Income Can Be Taxable If you independently provide services in Korea and

Do Foreigners Have to Pay Gift Tax in Korea? “My parents want to send me money from overseas. Do I have to pay tax in Korea?” This is an important question for foreigners living in Korea, especially when receiving money or property from family members. The answer depends largely on your Korean tax residency status and where the gifted property is located. 1. Does Korea Have a Gift Tax? Yes. Korea imposes gift tax (증여세) when property or economic value is transferred to another

Korean Year-End Tax Settlement: What Foreign Employees Should Know If you work for a company in Korea, you may have heard the term “Year-End Tax Settlement” (연말정산). But what exactly is it, and do foreign employees have to do it? What Is Year-End Tax Settlement? Year-end tax settlement is the process of calculating your final income tax for the year based on your salary, deductions, and tax credits. Your employer withholds income tax from your monthly salary throughout the yea

How Much Income Tax Do Foreigners Pay in Korea in 2026? If you are a foreigner working in Korea, you may have wondered: “How much income tax do I have to pay in Korea?” One important tax rule for foreign employees in 2026 is Korea’s 19% flat income tax rate. The 19% Flat Tax Rate for Foreign Employees Certain foreign employees who meet the requirements can choose a 19% flat tax rate instead of Korea’s progressive income tax rates. This can be particularly beneficial for high-

Do Foreigners Living in Korea Pay Tax on Overseas Income? “I live and work in Korea, but I also have income from my home country. Do I need to pay tax in Korea?” This is a common question among foreigners living in Korea. The short answer is: It depends on your Korean tax residency and the type of income you receive. 1. Being a foreigner doesn't mean you only pay tax on Korean income Korean tax law generally distinguishes between residents and non-residents. If you are consid