Payslip Generator for
South Korea

The four mandatory social insurances (4-dae boheom) are: National Pension (4.5% each for employee and employer), National Health Insurance (~3.545% each, plus long-term care insurance at ~12.81% of health insurance), Employment Insurance (0.9% employee, 0.9%-1.5% employer depending on company size), and Industrial Accident Insurance (employer only, rate varies by industry).

Year-end tax settlement (yeonmal jeongsan) is an annual process in January-February where employers reconcile the income tax withheld throughout the year with the employee's actual tax liability. Employees submit documentation for deductions and credits (medical expenses, education, donations, etc.). This often results in a tax refund reflected on the February payslip.

Yes, certain allowances are exempt from income tax and must be shown separately on payslips. Common non-taxable items include meal allowances (up to KRW 200,000/month), driving allowances for employees using personal vehicles for work, childcare subsidies, and overtime pay for production workers below certain income thresholds.

South Korean employers are required to provide a pay statement (geumyeo myeongseseo) each pay period. Most companies use HR and payroll software or a licensed labour attorney (nodong sagosa) to manage the calculations for the four major insurances and income tax. Payslips must clearly separate taxable and non-taxable earnings, all deductions, and net pay. Records must be retained for three years.

Yes. The Labour Standards Act requires employers to keep wage ledgers and provide a written wage statement to employees. Employers must also conduct year-end tax settlement (yeonmal jeongsan) annually and issue a withholding tax certificate (wonsechingsu yeongsujeung). Failure to provide accurate payslips can result in fines under the Labour Standards Act.

A Korean payslip must show all four major social insurance deductions: National Pension (gungmin yeon-geum), National Health Insurance (geongang boheom, including long-term care), Employment Insurance (goyo boheom), and Industrial Accident Insurance (employer-only but sometimes informational). Income tax (sodeukse) and local income tax (jibang sodeukse, 10% of income tax) must also be itemised.

Yes. Part-time workers and fixed-term contract employees are entitled to payslips showing their wages and applicable deductions. Workers employed 15 or more hours per week are generally eligible for all four major social insurances. Daily or short-term workers may be subject to simplified deduction rules. All employees, regardless of contract type, are entitled to accurate wage statements each pay period.

South Korean law requires wages to be paid at least once a month on a fixed date. Payslips must accompany each payment. Monthly pay is the most common cycle, though some industries use weekly or bi-weekly schedules. Employers must also issue a year-end tax settlement summary reflecting final tax adjustments, which often results in a refund or additional deduction visible on the February payslip.