South Korea
How South Korea performs
Tax
High taxes. South Korea has one of the heaviest tax burdens in the index, 110th of 123. A large share of income and profit goes to tax, so it suits people who are not moving for tax reasons. Personal income tax 6 - 45%, corporate tax 10 - 25%, VAT 10%.
Source: Heritage Foundation, Index of Economic Freedom (Tax Burden sub-score)
Safety
Average safety. Safety here is about average for the countries we cover: South Korea is 49th of 117.
Source: Institute for Economics and Peace, Global Peace Index
Cost of Living
Fairly expensive. Everyday life costs more here than in most countries we cover (94th of 118). Budget for it.
Source: Numbeo Cost of Living Index
Education
Excellent education. South Korea has one of the strongest education and knowledge systems in the index, 8th of 120. A strong choice for families and for study.
Source: UNDP & MBRF, Global Knowledge Index
Every figure is published by the institution named against it. We do not adjust, model or estimate the underlying values. See the formulas.
The detail behind the scores
Taxation
| Corporate income tax | 10 - 25% Applicable tax rate varies based on the amount of income earned |
|---|---|
| Personal income tax | 6 - 45% Applicable tax rate varies based on the amount of income earned |
| Standard VAT | 10% |
Rates change without notice. Confirm with the relevant tax authority before acting.
Naturalization Requirements and Immigration Pathway
- Residence for naturalization
- 5 years
- Language requirement
- YesProficiency in Korean language
- Investment Immigration Pathways
- South Korea Immigrant Investor Scheme for Public Business (IISPB)
South Korea Immigration Program for Tourist/Resort Facility Investment - Official language
- Korean
- Dual citizenship
- Allows with conditions
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