Everyday Calculators — Loans, VAT, Take-home Pay, Savings, Severance and Dates

Calculates Korean statutory severance pay (based on average wages), pay for unused annual leave (unused days × daily ordinary wage), loan early repayment fees (sliding by remaining term), pyeong ↔ square metre conversion, and D-day, date gaps and international age. Also covers loan amortization, VAT, take-home pay and savings maturity (simple and monthly compound interest, with Korea's 15.4% interest tax). Everything runs in your browser and amounts are never sent to a server. Actual amounts depend on company rules and loan agreements, so results are estimates for reference.

Severance pay calculator

Korea's statutory severance pay for leaving after a year or more of service, based on your wages for the last three months (average wage).

Form 01

Start date

Leaving date Day after your last working day

Wages for the last 3 months Pre-tax, incl. bonuses and allowances

KRW

Annual bonus total 3 months' share counts toward average wage · 0 if none

KRW

Leave pay Unused leave from two years prior · 3/12 counted · 0 if none

KRW

Estimated severance (pre-tax)

—

Enter your start date, leaving date and 3 months' wages.

Formula Daily average wage = (3 months' wages + annual bonus × 3/12 + leave pay × 3/12) ÷ 89–92 days; severance = daily average wage × 30 × (days of service ÷ 365). If the average wage is below the ordinary wage, the ordinary wage is used, but this form handles the average wage only. Actual payouts depend on company rules and the retirement pension type (DC/DB), and retirement income tax is deducted separately.

Unused leave pay

What you're paid for annual leave you couldn't use: unused days × daily ordinary wage.

Form 02

Wage basis

Monthly ordinary wage Base pay + fixed allowances (usually excl. meals and bonuses)

KRW

Contracted monthly hours Usually 209 for a 40-hour week

hours

Contracted daily hours

hours

Unused leave days

days

Leave pay (pre-tax)

—

Enter your ordinary wage and unused leave days.

Formula Daily ordinary wage = ordinary hourly wage × daily hours; leave pay = daily ordinary wage × unused days. On a monthly salary, ordinary hourly wage = monthly ordinary wage ÷ contracted monthly hours (usually 209). What counts toward the ordinary wage depends on each allowance, so check your company's employment rules first.

Loan early repayment fee

The fee for paying off a loan before maturity — usually repaid principal × fee rate × remaining days ÷ loan term (sliding), so it shrinks over time.

Form 03

Principal to repay early

KRW

Early repayment fee rate Usually 0.5–1.4% · check your agreement

Term input

Loan start date

Maturity date

Repayment date Blank = today

3+ years since the loan started (fee usually waived)

Estimated early repayment fee

—

Enter the principal, fee rate and term.

Note Methods vary by bank and product: some cap the remaining term at 3 years, some charge a flat rate regardless of days left, and some waive the fee after 3 years. Confirm the exact amount with your loan agreement and bank.

Pyeong · Square metres (㎡)

1 pyeong = 3.305785㎡ (exactly 400/121). Converts the Korean real-estate unit to and from square metres.

Form 04

Direction

pyeong

Square metres

—

Enter a number.

Note A "national housing size" apartment in Korea has at most 85㎡ (about 25.7 pyeong) of exclusive floor area. Advertised pyeong usually counts supply area (exclusive + shared residential), so it is larger than the exclusive area.

D-day · Date calculator

Counts days until a target date, the gap between two dates, and your international age as of today.

Form 05

Calculation

Target date

From date Blank = today

Count the start day as day 1 (exam countdown style)

Days left

—

Enter a date.

Note International age is (this year − birth year) if your birthday has passed, minus one if not. Since June 2023, Korean law uses international age everywhere.

Loan interest · Amortizing payments

Monthly payment and total interest for a loan repaid in equal monthly instalments (principal + interest).

Form 06

Loan amount

KRW

Annual interest rate

Loan term

months

Monthly payment

—

Enter the amount, rate and term.

Formula Monthly payment = principal × r × (1+r)^n ÷ ((1+r)^n − 1), where r = annual rate ÷ 12 and n = months. A simple calculation that ignores early repayment, grace periods and fees.

VAT calculator

Splits or combines net price and tax at Korea's 10% VAT rate.

Form 07

Amount entered is

Amount

KRW

VAT rate

Result

—

Note From a VAT-inclusive total, net price = total ÷ 1.1 and tax = total ÷ 11. Exemptions, simplified taxation and zero rating are not reflected.

Take-home pay (estimate)

Estimates what lands in your account each month after Korea's four social insurances and income tax. A rough calculation that will differ from your actual pay.

Form 08

Enter as

Annual salary Pre-tax, excl. non-taxable

KRW

Monthly non-taxable Meals etc. · usually 200,000

KRW

Dependants Including you

people

Estimated monthly take-home

—

Enter your annual or monthly salary.

Note Estimated with National Pension 4.5%, health insurance 3.545%, long-term care at 12.95% of the health premium and employment insurance 0.9% (2024 rates), plus income and local income tax from a simplified withholding table. The pension applies the monthly income cap of KRW 6.37 million and floor of KRW 390,000 (announced July 2025), so high earners pay less than the plain rate suggests. Actual amounts vary with dependant deductions, year-end tax settlement and non-taxable items.

Savings · Maturity payout

Maturity payout after Korea's 15.4% interest tax, for a lump-sum deposit or a monthly savings plan.

Form 09

Product

Deposit amount

KRW

Annual interest rate

Term

months

Interest type

Interest tax

Maturity payout (after tax)

—

Enter the amount, rate and term.

Formula Deposit, simple = principal × annual rate × (months/12). Deposit, monthly compound = principal × (1 + annual rate/12)^months − principal.
For a savings plan with simple interest, each deposit sits for a different length of time: only the first instalment earns interest for the full term and the last earns one month (interest = monthly amount × monthly rate × n(n+1)/2). This is the same method banks use.
Tax Interest income tax 14% + local income tax 1.4% = 15.4% is withheld from interest (rounded down to the won). Actual amounts may vary with the bank's day count (leap years, month ends), preferential rate conditions and early termination rates.

FAQ

Do I get severance for less than a year of work?

No. It requires at least one year of continuous service and an average of 15+ hours a week over four-week periods. Beyond the first year it is prorated by day (e.g. 2 years 6 months = 30 days' pay × 2.5).

How do average wage and ordinary wage differ?

Average wage is the total pay received in the three months before leaving divided by the number of days — based on what you were actually paid (including bonuses and overtime). Ordinary wage is the amount set to be paid regularly and uniformly (base pay + fixed allowances), and is the basis for leave pay and overtime. Severance uses the average wage, but if that is below the ordinary wage, the ordinary wage is used.

When is unused leave paid out?

If leave is still unused when the usage period (usually one year) ends, it is paid out on the next month's payday. However, if your company properly followed the leave-use promotion procedure and you still didn't take it, you may lose the right to claim the pay.

Is the early repayment fee ever waived?

It is usually waived once 3 years have passed since the loan started. There are also exceptions when you switch to a new policy loan (refinancing), when the bank runs a waiver promotion, or where the law provides (e.g. some low-income finance products). Some products let you repay a set share each year fee-free even within 3 years.

My savings plan pays 3.5% a year — why is the interest only about half?

With a savings plan, each monthly deposit is held for a different length of time. Only the first deposit earns interest for all 12 months; the last earns one month. So pre-tax interest on a 12-month plan is monthly amount × monthly rate × (12×13÷2), a little over half the annual rate measured against your total deposits. The "3.5% a year" is the rate for the time each deposit is held, not a return on everything you paid in. The after-tax return on principal in the results above is what you actually take home.

Why do results differ from what I'm actually paid?

These forms are simplified estimates of the statutory rules. Actual amounts vary with company employment rules, retirement pensions (DC plans depend on contributions and returns), how bonuses are counted, taxes (retirement and earned income tax) and changes to social insurance rates. Check exact figures with your HR team, bank or a tax professional.

Are the amounts I enter saved or sent anywhere?

No. All calculations happen inside your browser. Only the last calculator you opened is remembered in this browser; inputs like salary or loan amounts are never saved or sent anywhere.