Grow Your Workforce in South Korea

Income Tax in South Korea

South Korea has progressive income tax rates from 6% to 45%.

Social Security in South Korea

The total contribution for the National Pension and National Health Insurance is shared equally between employers and employees, amounting to 9% for the National Pension and approximately 7.09% for the National Health Insurance.

Contributions to Worker’s Accident Compensation Insurance are solely the responsibility of employers and vary widely based on the risk profile of the industry.

Work Visas in South Korea

Here are the main work visas available in South Korea:

E-7 Visa: Specially Designated Activities

• Purpose: Covers professionals in specific fields, such as engineering, IT, design, and finance.
• Eligibility: Applicants need specialized skills and usually a relevant degree or experience.
• Duration: Typically up to two years, renewable.
• Common Use: Foreign professionals with skills that are scarce in the South Korean labor market.

D-8 Visa: Corporate Investment

• Purpose: Issued to investors and senior managers for foreign-invested companies in Korea.
• Eligibility: Applicant must be part of a company that has made a significant financial investment in Korea.
• Duration: Typically valid for up to one year, with annual renewals available.
• Common Use: Senior managers and entrepreneurs setting up or managing foreign businesses in South Korea.

D-10 Visa: Job-Seeker Visa

• Purpose: Allows foreign nationals to stay in Korea temporarily while seeking employment.
• Eligibility: Typically requires a degree or work experience related to the field they aim to work in.
• Duration: Six months, renewable up to two years.
• Common Use: Foreign graduates from Korean universities or professionals seeking job opportunities.