ISA, pension savings and IRP tax calculator
Enter total salary and contributions and it works out the Korean tax credits and tax-free allowances in one go.
Works out how much of what you put into a Korean pension savings account and IRP comes back at year-end settlement, plus the ISA's tax-free allowance and the extra credit for rolling an ISA into a pension account. The credit rate depends on total salary, so enter that figure accurately.
Your numbers
What you enter is saved in this browser, so it is still here next time
Only up to ₩6,000,000 on its own counts for the credit
Only up to ₩9,000,000 counts, pension savings and IRP combined
10% of the amount rolled over, up to ₩3m, is added to the credited base — the refund is that times your credit rate
What you would save
Tax credit on pension savings and IRP
₩1,485,000
- Credit rate
- 16.5%
- Pension savings that count
- ₩6,000,000
- IRP that counts
- ₩3,000,000
- Counting in total (capped at ₩9,000,000)
- ₩9,000,000
ISA — tax-free allowance and rollover credit
- ISA tax-free allowance
- ₩5,000,000
- Credit for rolling into a pension account
- ₩0
Total tax credit you would get back
₩1,485,000
This is an estimate as at July 2026, for reference. What you actually get depends on your other income and deductions. The ISA tax-free allowance here follows the recent reform proposal (₩5m general, ₩10m lower-income); depending on when it takes effect the previous limits (₩2m and ₩4m) may apply instead — check on Hometax at Korea's National Tax Service, or with a tax professional.
Make a link with these numbers
Opening the link fills this screen with the same values. Useful for going through it with a partner, or for comparing two sets of conditions.
A ₩40m salary with ₩6m in pension savings plus ₩3m in an IRP comes to ₩1,485,000
The credit is amount that counts × credit rate. The amount that counts takes pension savings first, up to ₩6m, adds the IRP, and cuts the total at ₩9m. The rate is 16.5% on total salary of ₩55m or less (₩45m or less as comprehensive income) and 13.2% above that, local income tax included. The defaults give ₩9m × 16.5% = ₩1,485,000; the same contributions on a ₩60m salary fall to 13.2% and ₩1,188,000, ₩297,000 less.
Put ₩8m into pension savings and only ₩6m counts
The pension savings account has its own ₩6m cap, so ₩8m there with nothing in an IRP counts as ₩6m and returns ₩990,000 at 16.5%. ₩6m in pension savings and ₩5m in an IRP is ₩11m combined, of which only ₩9m counts, so the IRP part is ₩3m and the screen warns that the limit is exceeded. 10% of an ISA rollover, cut at ₩3m, is added to the credited base on top of the ₩9m and multiplied by the same rate — ₩20m adds ₩2m to the base and ₩330,000 to the credit at 16.5%, anything from ₩30m adds the same ₩3m and ₩495,000.
Whether there is enough tax to give back is not checked
A tax credit is taken off the tax you owe, so if the year's assessed tax is less than ₩1,485,000 the refund stops there; this screen multiplies the rate by the amount that counts and never compares it to the tax actually due. The ISA tax-free allowance is only displayed for the type chosen (₩5m general, ₩10m lower-income and farming) — how much tax the ISA's own gains attract is not calculated.
Common questions
QHow much of a pension savings account and IRP qualifies?
A pension savings account qualifies up to ₩6m a year on its own, or ₩9m in total once an IRP is included. The credit is 16.5% on total salary at or below ₩55m (₩45m of global income) and 13.2% above that, local income tax included.
QHow should the ₩9m be split?
Filling the ₩6m in the pension savings account first and putting the remaining ₩3m in the IRP is a common arrangement. The credit is the same either way, but a pension savings account is freer than an IRP in what it can hold and in early withdrawals.
QWhat is the benefit of rolling a matured ISA into a pension account?
Moving a matured ISA into a pension savings account or IRP adds 10% of the amount transferred, up to ₩3m, to the amount eligible for the tax credit. It sits on top of the ₩9m annual limit, and the credit itself is that amount times 13.2% or 16.5% — at most ₩495,000.
QWhat is the ISA tax-free allowance?
A tax reform raising it to ₩5m for the standard type and ₩10m for the lower-income and farming types has been announced. Sources disagree on when it takes effect, so check on the National Tax Service's Hometax before filing.
QDoes ₩9m in an IRP alone all qualify?
In this calculation, yes. The ₩6m cap applies only to the pension savings account and an IRP counts in full within the ₩9m combined limit, so nothing in pension savings and ₩9m in an IRP gives the same credit as ₩6m plus ₩3m.
QWhen do I pick comprehensive income as the basis?
When you are not a salaried employee. The total-salary threshold is ₩55m and the comprehensive-income threshold is ₩45m, so the same ₩46m gets 16.5% entered as total salary and 13.2% entered as comprehensive income.