Korea EITC and Child Tax Credit: Eligibility and How to Read the Table

Who can claim

Residents with earned income, business income or religious income can claim when total income and assets are under the limits.

The total income limit depends on household type. It is under KRW 22,000,000 for a single household, under KRW 32,000,000 for a single-earner household and under KRW 44,000,000 for a dual-earner household.

Total assets must be under KRW 240,000,000. The child tax credit is for households with a dependent child and total income under KRW 70,000,000.

Without Korean nationality you generally cannot claim. The exceptions are a marriage to a Korean national or a dependent child with Korean nationality.

Choosing a household type

A single household has no spouse and no dependent child.

A single-earner household is one where the spouse's total pay is below the amount in the article, or one with a dependent child and no spouse.

A dual-earner household is one where each spouse's total pay is at or above the amount in the article. The exact amount is in the legal text table.

If you are unsure, read Article 100-3, paragraph 5 in the legal text table. This tool does not decide your household type. It calculates what you pick.

Total pay and the adjustment rate

The table is looked up by total pay and similar income. For salary, enter your total salary as is.

Business income is multiplied by a rate set for the business type and added in. The rates are in the table below.

For a dual-earner household, enter both spouses combined. This tool takes business income from one business type only.

The asset limit

Assets mean land, buildings, cars, deposits and so on, added together for every household member.

The reference date is June 1 of the year the tax year ends. Demand deposits use the daily average balance from March 2 to June 1.

At KRW 170,000,000 or more, the EITC is cut to 50%. At KRW 240,000,000 or more, you cannot apply.

This tool does not value assets. Check official prices and lease deposit notices yourself and enter the total.

The amount comes from a table

The law says to work out the EITC with a table. The table is Annex 11 of the Enforcement Decree.

The statute also has a formula. For a single household the credit rises to the maximum of KRW 1,650,000, then falls from a set point and reaches zero at KRW 22,000,000.

The formula and the table differ a little at the ends of bands. So this tool looks up the table and uses the formula only to explain.

The single-earner maximum is KRW 2,850,000 and the dual-earner maximum is KRW 3,300,000. The maximum is paid in the flat band of each household type.

The minimum payment rules

If the calculated amount is under KRW 15,000, the decision is no credit.

In the band where the credit grows with income, an amount from KRW 15,000 up to under KRW 100,000 is set at KRW 100,000.

In the band where it shrinks with income, an amount from KRW 15,000 up to under KRW 30,000 is set at KRW 30,000.

The same rules apply to an amount reduced for assets or for late filing.

The child tax credit

The child tax credit uses a table too. It is Annex 11-2, with a maximum of KRW 1,000,000 per child.

A single-earner household gets the per-child maximum under KRW 21,000,000 of total pay. For a dual-earner household it is under KRW 25,000,000.

Above that it falls as income grows and ends at KRW 70,000,000.

It cannot be combined with the child tax deduction, so it can be reduced by what you deducted. This tool does not calculate that reduction.

You claim the EITC and the child tax credit separately. This tool shows the two amounts side by side.

Filing deadlines and the decision

A regular filing is due by the comprehensive income tax filing deadline. That is May 31, or the next business day if it is a holiday.

If you miss it, you can file late within 6 months. The amount is then set at 95%.

There is also half-year filing. You file for each half of the year, and the amount is 35% of the table.

The legal deadlines for the decision and refund are worked out as dates on the payment timing page.

What to confirm and the limits

This tool is not a decision. The district tax office decides. It does not file for you or write your return.

If you misstate your eligibility, refunds are blocked for a set period. The period is in the legal text table.

When the law and tables change, this tool downloads them again and replaces the values. The date each value was checked is always shown.