Hong Life CalculatorsHow it works
Bonus before tax = monthly base pay × (PS rate + PI rate) ÷ 100. The tax is estimated on a year-end-settlement basis: income tax on (salary + bonus) minus income tax on salary alone. Each uses the earned-income deduction, your other deductions, the 6–45% rate table and the earned-income tax credit; local income tax adds 10%. Social insurance on the bonus = health 3.595% + long-term care (13.14% of that) + employment 0.9% ≈ 4.97%. National pension is left out: its monthly base is capped and is set from the previous year’s pay. The tax actually withheld on payday follows the simplified withholding table and is corrected in the February year-end settlement. SK hynix does not publish the PS rate in a regulatory filing; enter the rate your company announced. Independent calculator, not affiliated with SK hynix.
⚠ Estimates for information only — not financial advice.
FAQ
Why is so much tax taken from a big bonus?
The bonus is added on top of your salary, so all of it is taxed at your highest brackets — often 38–45% income tax plus 10% local tax for very large bonuses.
Is the amount withheld on payday final?
No. Payday withholding uses the simplified table; the final tax is settled in the next February year-end settlement, when you may get some back or pay more.
Checked 11 Nov 2026. Income Tax Act (2026): art. 47 earned-income deduction (70/40/15/5/2%, cap ₩20 million), art. 55 basic rates 6–45% (₩14m/50m/88m/150m/300m/500m/1bn), art. 59 earned-income tax credit (55% / 30% above ₩1.3m; limits ₩740k→660k→500k→200k by total pay); local income tax 10% of income tax (Local Tax Act art. 103-3). Employee social insurance on pay, 2026: health 3.595% (7.19% total, Health Insurance Policy Deliberation Committee, Aug 2025), long-term care 13.14% of the health premium (Long-Term Care Committee, Nov 2025), employment insurance 0.9%. Reported PS rate: The Fact (8 Feb 2026) and Newsis (30 Jan 2026) — reference only, not a company disclosure.