Korean Job Discussion Forums

[T-dot]

does a 300, 000 won tax the norm for about 4 mill in last pay and severance?

what should one be paying in taxes (not pension, medical or any other deduction) per month for roughly 2 mill.

[Zyzyfer]

Because the payments are combined, it bumps you up into a higher tax bracket. You may want to see if you can have them paid separately.

[T-dot]

So, everyone gets hit with this tax? I didnt think the severance and pay would be combined, thus the big monthly salary. there must be a hagwon loophole or something because I dont recall seeing a tax jump like this before.

[kangnamdragon]

It is normal because you are in a higher tax bracket. It this the first contract you have completed?

[sadsac]

That seems to be excessive. I would check and make sure that there isn't some hidden charge. You never know.