Korea Payroll

Earned-income withholding tax

The statutory monthly withholding of the NTS simplified tax table (간이세액표): by default the official table itself (Income Tax Enforcement Decree, Annex 2, revised 26 February 2026) ships with the module — wage band x number of family members, the reduction for children aged 8-20 and the rules above KRW 10 million. As a company option, the formula behind it: the monthly wage is annualised, the earned-income deduction (근로소득공제) and the basic personal/dependent deduction (인적공제, KRW 1,500,000 per qualifying person) are applied, the progressive income tax brackets (6 / 15 / 24 / 35 / 38 / 40 / 42 / 45%) give the computed tax, and the earned-income tax credit (55% / 30%, wage-capped as Income Tax Act art. 59(2) prescribes) reduces it.

Editable bracket scale

The income-tax bracket scale is a fully editable model and the personal deduction, the tax-credit rates and the local-tax rate are company settings used by the formula option and the year-end settlement — so you adjust them whenever the Income Tax Act changes, nothing is hard-coded.

Payroll runs & withholding statement

Populate employees, compute every statutory deduction and net pay in one click, review run totals, and export a CSV or Excel payroll register. A withholding-statement summary wizard totals the income tax and local income tax to remit through Hometax and the four-insurance contributions to remit to NPS, NHIS and COMWEL, so you know exactly what to file.

BYOK-friendly: the module produces the statutory figures and register files locally; you file them through Hometax (홈택스) and the 4대보험 portal with your own credentials. Resident registration numbers (주민등록번호) are masked on every export. No employee data leaves Odoo.