Korean Job Discussion Forums

[Weigookin74]

Well, I worked in 2002 and 2003 leaving University for a couple of years. I worked again for some of 2005 and 2006. Both times my income was in the 20's K (low to mid) per year. Bad economy and shortage of jobs where I'm from, explain the bad salary. (Effin Maritimes!) Anyways, first stint - 2002 and 2003 - had me paying 20% of my income in deductions and a 15% sales tax everywhere I went. Really high taxation level for such a low income. (Deductions included federal and provincial income taxes, Canada Pension Plan contributions, and Employment Insurance premiums)

By 2006, I was paying about 12% of income to deductions and a 13% sales tax. (Governments went on a tax cutting mode in the 2000's decade in Canada as it became less socialist. Kudos to Stephen Harper after his election as PM for cutting the GST!!) Anyways, in Korea, there's a 10% sales tax and my total deductions here come to nearly 10%, though my income is higher than what I made in Canada. Gasoline taxes are much higher here. I don't know to what extent the government taxes you once you start making money, though I assume it could be as much or higher. There are more things considered luxuries and face higher taxes here due to that. Even your health care premiums rise if you own too much "stuff".

For lower income, you have somewhat lower taxation, but pay more for some food items and electronics in taxation. (Though with the price spikes in the west and Canada in particular, I'm not so sure Korea is as expensive in comparison to what it was. I still think Korea is cheaper overall than back home. Rents, used cars, utilities are cheaper. But, it depends on what you use and how expensive the things you have are.)

[motiontodismiss]

My problem with taxes in Korea isn't the amount of tax, but what I get for it.

Don't even get me started on the ponzi scheme that is the National Pension here in Korea. It's expected to go broke in 2053 and what's exactly when I turn 65.

....Which is to say...I'm moving out of this country permanently in the next ten years.

[atwood]

[motiontodismiss]

[World Traveler]