In 2023 alone, 3.49 million freelancers and gig workers in Korea got back KRW 850.2 billion. That was withholding tax taken out of their pay at 3.3% and reclaimed the following May (Korea Tax Times...
Gift Tax in Korea: What to Check Before Chuseok Cash Goes Into Your Child’s Account
When the Chuseok (추석) holiday ends, most children in Korea are left holding a few envelopes. The KRW 100,000 from a grandmother or the KRW 50,000 from an uncle has nothing to do with tax when it...
Freelancer Tax Filing Guide: A Step-by-Step Walkthrough
According to the National Tax Service, a significant number of freelancers in Korea who have 3.3% withheld from their income actually get money back through tax filing. The 3.3% withheld often...
15 Essential Tax Deductions You Can’t Afford to Miss: Year-End Checklist
Tax deductions in Korea’s year-end settlement — are you claiming everything you’re entitled to? Even with the same salary, how you prepare can mean a difference of hundreds of thousands...
