Tax
Income Deduction for Credit Cards, Debit Cards and Cash Receipts (신용카드·체크카드·현금영수증 소득공제)
Deduction on spending above 25% of gross salary: credit 15%, debit and cash receipts 30%, traditional markets and public transportation 40%, limit KRW 3,000,000 (+ children)
See eligibility · how to apply · cautions
- Details
- For spending above 25% of gross salary: credit cards 15%, debit cards and cash receipts 30%, traditional markets and public transportation 40%, and books, performances, museums, movie theaters, swimming pools and fitness centers (gross salary KRW 70,000,000 or less) 30%. Basic limit for 2026 spending: KRW 3,000,000 for gross salary of KRW 70,000,000 or less (KRW 3,500,000 with 1 child, KRW 4,000,000 with 2 or more children), KRW 2,500,000 above that (KRW 2,750,000 with 1 child, KRW 3,000,000 with 2 or more children). The excess over the limit gets an additional deduction within the scope of traditional market, public transportation and culture and sports spending (KRW 3,000,000 for KRW 70,000,000 or less, KRW 2,000,000 above that). Spending by spouse and direct ascendants and descendants can be combined (annual income of KRW 1,000,000 or less and gross salary of KRW 5,000,000 or less). Excludes cars, insurance premiums, utilities, gift certificates and spending claimed under the monthly rent tax credit. Overall income deduction limit KRW 25,000,000. 2027 government proposal: abolish the additional public transportation deduction and the income requirement for the 30% culture deduction.
- Eligibility
- Earned income earners (those spending above 25% of gross salary)
- Timing
- Spend during the year; reflected in year-end tax settlement (January-February). Check before year-end with the Hometax preview
- How to apply
- Check with the Hometax year-end tax settlement preview (around November) and the simplified service (January), and submit to your company
- Caution
- Spending from Jan 1 to Dec 31 of the year. The system's application deadline is Dec 31, 2028
Tax
Pension Savings and IRP Tax Credit (연금저축·IRP 세액공제)
Pension savings of KRW 6,000,000 + IRP combined limit of KRW 9,000,000 per year; credit rate 15% (gross salary KRW 55,000,000 or less) or 12%
See eligibility · how to apply · cautions
- Details
- Tax credit on pension savings of KRW 6,000,000, and up to KRW 9,000,000 combined including retirement pension (IRP, DC). Credit rate 15% for gross salary of KRW 55,000,000 (comprehensive income amount KRW 45,000,000) or less and 12% above that = maximum KRW 1,350,000 / KRW 1,080,000 (local income tax of 10% is separate). If ISA maturity proceeds are deposited into a pension account, 10% of the transferred amount (up to KRW 3,000,000) is recognized as an additional limit (only in the year of deposit). 2026 tax reform proposal: a 15% preferential rate on IRP contributions by youth aged 15-34 (full age) (government proposal). Pension savings and IRP share a combined limit. Early termination triggers other income tax. Business owners with comprehensive income can also claim the deduction.
- Eligibility
- Residents with comprehensive income (including earned income)
- Timing
- Contribute during the year; the credit is claimed at year-end tax settlement (January-February) or May comprehensive income tax filing
- How to apply
- Contribute to pension savings and IRP via a financial company's app. Contributions are looked up automatically on the simplified service
- Caution
- Contributions made by Dec 31 of the year are eligible for the credit
Care · Services · Discounts
Year-End Tax Settlement Preview and Simplified Service (연말정산 미리보기·간소화 서비스)
Preview your expected refund on Hometax around November; look up simplified service data in bulk in mid-January
See eligibility · how to apply · cautions
- Details
- Year-end tax settlement preview: simulates the expected tax from card spending in January-September and the previous year's deductions (for the 2025 attribution year, opened Nov 10, 2025). Year-end tax settlement simplified service: look up deduction data such as insurance premiums, medical expenses, education expenses, donations and cards in bulk (for the 2025 attribution year, opened Jan 15, 2026). For the 2026 attribution year, expected to open around November 2026 and in mid-January 2027 (check National Tax Service notices). Use the preview to adjust card, debit card and pension account contributions before year-end. Submit receipts separately for expenses not found on the simplified service.
- Eligibility
- Any employee (Hometax authentication required)
- Timing
- Preview around November each year, simplified service in mid-January each year
- How to apply
- Log in to Hometax (hometax.go.kr) and use the Tax Incentives, Year-End Tax Settlement and Donations menus, Convenient Year-End Tax Settlement
- Caution
- The deadline to submit to your company is usually early February. Opening dates differ each year, so check National Tax Service notices
Loans · Finance
Sunshine Loan General Guarantee (formerly Worker Sunshine Loan and Sunshine Loan Bank) (햇살론 일반보증)
Annual income of KRW 35,000,000 or less (regardless of credit), etc.; up to KRW 15,000,000, interest within 10% per year, up to 5 years
See eligibility · how to apply · cautions
- Details
- Integrated and reorganized on Jan 2, 2026. Eligible: annual income of KRW 35,000,000 or less (regardless of credit score) or annual income of KRW 45,000,000 or less and in the bottom 20% of credit. Guarantee limit up to KRW 15,000,000, interest rate within 10% per year (guarantee fee within 2.5%, varies by financial company, recent quarterly average 7.3-10.5%), equal installment repayment within 5 years with no early repayment fee. A 0.5%p reduction in the guarantee fee for socially disadvantaged persons and 0.1%p for completing financial education and consulting, etc. Handled by all financial sectors. After faithfully using policy-based microfinance for 2 years or more, you can use the Stepping Stone Loan (up to KRW 30,000,000, interest within 9% per year). Business owners have separate products such as Sunshine Loan 119 and Microcredit (미소금융).
- Eligibility
- Low-credit, low-income ordinary people (annual income of KRW 35,000,000 or less, or KRW 45,000,000 or less and bottom 20% of credit)
- Timing
- Year-round
- How to apply
- Microfinance Itda app (서민금융 잇다), Microfinance Call Center 1397, appointment visit to a Microfinance Integrated Support Center, handling financial companies (kinfa.or.kr)
- Caution
- Even after approval of the preliminary check by the Korea Inclusive Finance Agency (서금원), the financial company's review may still reject you. For the guarantee fee reduction, documents must be submitted and education completed before signing the contract
Loans · Finance
Sunshine Loan Special Guarantee (formerly Sunshine Loan 15 and Lowest-Credit Special) (햇살론 특례보증)
Annual income of KRW 35,000,000 or less and bottom 20% of credit, up to KRW 10,000,000, interest within 12.5% per year (9.9% for socially disadvantaged)
See eligibility · how to apply · cautions
- Details
- A high-interest alternative product for the lowest-credit borrowers who would otherwise unavoidably use moneylenders or illegal private lending. Annual income of KRW 35,000,000 or less and bottom 20% of credit. Guarantee limit up to KRW 10,000,000, interest rate within 12.5% per year (including guarantee fee, reduced from the previous 15.9%), 9.9% for socially disadvantaged persons. Equal installment repayment over 3 or 5 years, no early repayment fee. Some banks offer Sunshine Loan interest cashback (Hana Bank: about 2% of the loan balance refunded over 1 year). Socially disadvantaged persons: basic livelihood recipients, near-poverty group, self-sufficiency workers, Earned Income Tax Credit recipients, persons with disabilities, single parents, grandparent-grandchild families, multicultural families and North Korean defectors. A 0.1%p reduction for completing financial education and enrolling in the Welfare Membership, etc. For small amounts for the lowest-credit borrowers, also consider the Illegal Private Lending Prevention Loan.
- Eligibility
- Annual income of KRW 35,000,000 or less and credit score in the bottom 20%
- Timing
- Year-round
- How to apply
- Microfinance Itda app (서민금융 잇다), Microfinance Call Center 1397, Microfinance Integrated Support Center, handling financial companies
- Caution
- Must pass the Korea Inclusive Finance Agency guarantee review and the financial company's review. For the guarantee fee reduction, submit documents before signing the contract
Loans · Finance
Illegal Private Lending Prevention Loan (불법사금융예방대출; formerly Microloan for Living Expenses, 소액생계비대출)
Bottom 20% in credit and annual income of KRW 35,000,000 or less: up to KRW 1,000,000, 12.5% per year (9.9% for those with social consideration), 50% of interest refunded on full repayment
See eligibility · how to apply · cautions
- Details
- Overhauled on January 2, 2026. Eligible: credit score in the bottom 20% and annual income of KRW 35,000,000 or less (basic livelihood recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit). Up to KRW 1,000,000 per person (existing overdue borrowers: base KRW 500,000 + additional KRW 500,000; overdue borrowers can also get KRW 1,000,000 with proof of medical, housing or education expenses). Interest 12.5% per year (9.9% for social consideration), 2-year equal principal-and-interest repayment, no early repayment fee. If fully repaid before maturity, 50% of interest paid is refunded (effectively 6.3%; 5% for social consideration), and if fully repaid after using the loan for 6 months or more, a re-loan at 4.5% per year is available. Completing financial education or joining the Welfare Membership is required. Those whose debts were settled through personal rehabilitation or debt restructuring are excluded from the incentives. Holders of the former product (15.9%) can only take additional loans until the end of 2026.
- Eligibility
- Bottom 20% in credit and annual income of KRW 35,000,000 or less (recipients, near-poverty group and Earned Income Tax Credit recipients regardless of credit)
- Timing
- Year-round
- How to apply
- Visit an Inclusive Finance Integrated Support Center (서민금융통합지원센터; 50 locations nationwide) (reservation required via 1397); for additional or re-loans, use the Inclusive Finance Itda (서민금융 잇다) app
- Caution
- Bring photo ID for identity verification. Bring supporting documents for the social consideration rate
Care · Services · Discounts
Fast-Track Debt Restructuring and Pre-Workout (신속채무조정·사전채무조정, 프리워크아웃)
Overdue 30 days or less / 31-89 days: interest rate cut by 30-50% / 30-70%, overdue interest waived, installment repayment up to 10 years
See eligibility · how to apply · cautions
- Details
- Fast-track debt restructuring: overdue 30 days or less (or before becoming overdue in cases such as job loss, business closure, hospitalization of 90+ days or being in the bottom 10% in credit), contract interest rate reduced by 30-50% (maximum 15%, minimum 3.25%), up to 10 years, repayment deferral up to 3 years. Pre-workout (프리워크아웃): overdue 31-89 days, interest rate reduced by 30-70% (maximum 8%, minimum 3.25%), up to 10 years. Common conditions: total debt of KRW 1.5 billion or less (unsecured KRW 500 million, secured KRW 1 billion), collection stops immediately upon application, overdue interest fully waived. Debt incurred in the last 6 months must be less than 30% of total principal debt. Fast-track and pre-workout are not registered as public records (1101) at the Korea Credit Information Services. Check separately for any application fee.
- Eligibility
- Debtors overdue 89 days or less to creditor financial institutions (before overdue if conditions are met) with total debt of KRW 1.5 billion or less
- Timing
- Year-round (phone reservations on weekdays, 9:00-18:00)
- How to apply
- Credit Counseling and Recovery Service (신용회복위원회) 1375; book a consultation via app or internet, or visit a branch (ccrs.or.kr)
- Caution
- If overdue 90 days or more, you are moved to the personal workout
Care · Services · Discounts
Credit Counseling and Recovery Service (신용회복위원회) Personal Workout (개인워크아웃)
Debtors overdue 90 days or more: interest and overdue interest fully waived, up to 30% principal reduction for unwritten-off debt and 20-70% for written-off debt, up to 8 years
See eligibility · how to apply · cautions
- Details
- Eligible: debt to creditor financial institutions overdue 90 days or more, total debt of KRW 1.5 billion (unsecured KRW 500 million, secured KRW 1 billion) or less, and debt incurred in the last 6 months below 30%. Support: overdue interest and interest fully waived, principal reduction (up to 30% for unwritten-off debt, 20-70% for written-off debt), equal principal repayment up to 8 years for unsecured debt (up to 35 years for mortgage debt), repayment deferral up to 3 years (2%), collection stops the day after application, and public records are removed after 1 year of faithful repayment following confirmation. Unemployed youth and university (graduate) students get special terms such as a waived KRW 50,000 application fee and repayment deferral up to 5 years. After 1 year of faithful repayment: early removal of public records and support for overdue national health insurance premiums (university students and unemployed youth aged 39 or under, up to KRW 2,000,000).
- Eligibility
- Debtors overdue 90 days or more (total debt of KRW 1.5 billion or less)
- Timing
- Year-round
- How to apply
- Reserve via Credit Counseling and Recovery Service (신용회복위원회) 1375, consult via app or internet, or visit a branch. Bring photo ID
- Caution
- If you become overdue after the plan is confirmed, it may lapse. Re-adjustment and revised adjustment are possible
Care · Services · Discounts
New Leap Fund (새도약기금): Write-off and Restructuring of Debt Overdue 7+ Years
Debt overdue 7+ years with principal of KRW 50,000,000 or less is bought in bulk; written off if no ability to repay, otherwise principal reduced by up to 80%
See eligibility · how to apply · cautions
- Details
- Eligibility (all must be met): overdue 7 years or more (overdue began before June 19, 2018), individual overdue debtor (including sole proprietors) with total principal across financial companies of KRW 50,000,000 or less. The fund buys debts in bulk without a separate application, then assesses ability to repay. No ability to repay (median income at or below 60%, no assets other than livelihood-related property, 2 or fewer entries/exits in the last 5 years, etc.): write-off (up to KRW 50,000,000 per person). Ability to repay: debt restructuring (principal reduced by up to 80%). A separate path from the Credit Counseling and Recovery Service (신용회복위원회) special restructuring for long-term overdue debtors (5+ years, median income at or below 125%). If written off, the repayment obligation is extinguished. Check purchase and progress status with the call center.
- Eligibility
- Individuals (including sole proprietors) with debt overdue 7+ years and principal of KRW 50,000,000 or less
- Timing
- Guidance given after the fund buys debts in bulk (implemented in 2025)
- How to apply
- New Leap Fund call center 1660-0705 (purchase and progress status); for debt restructuring, Credit Counseling and Recovery Service 1375
- Caution
- Debts that became overdue before June 19, 2018. Check New Leap Fund announcements for the timing of additional purchases
Care · Services · Discounts
Voice Phishing Victim Relief (보이스피싱 피해 구제: Payment Suspension and Relief Application)
Request an immediate account payment suspension, then file a damage relief application within 3 business days and proceed with the refund process
See eligibility · how to apply · cautions
- Details
- If you are a voice phishing victim: 1) Report immediately to the call center of the financial company that received or sent the money and request a payment suspension (connection to police 112 and the Financial Supervisory Service 1332 is possible). 2) If personal information may have been exposed or you suspect a malicious app, factory-reset your phone, register with the FSS Personal Information Exposure Accident Prevention System (pd.fss.or.kr), suspend payments on all your own accounts at once through the Korea Financial Telecommunications and Clearings Institute Account Info Integrated Management Service (payinfo.or.kr), and check for phones opened in your name (msafer.or.kr). 3) Submit a written damage relief application (within 3 business days) to the branch where you requested the payment suspension, together with documents such as the police station's incident confirmation. Refunds of stolen money are paid after the claim-extinguishment procedure required by law (details are provided by the financial company). Report to the Integrated Report and Response Center 1394 (counterscam112.go.kr). Public and financial institutions never ask for money transfers or personal information.
- Eligibility
- Victims of voice phishing (telecommunications financial fraud)
- Timing
- Immediately after the damage occurs (minutes matter)
- How to apply
- Financial company call center, then 112, then Financial Supervisory Service 1332, then 1394; file the damage relief application at the branch where you requested the payment suspension
- Caution
- Written damage relief application must be submitted within 3 business days. Ask about required documents before visiting
Tax
Medical Expense Tax Credit (의료비 세액공제)
15% of medical expenses exceeding 3% of gross salary (no limit for yourself, those aged 65 or older, those aged 6 or younger and persons with disabilities; KRW 7,000,000 per year for others)
See eligibility · how to apply · cautions
- Details
- The amount of medical expenses exceeding 3% of gross salary is eligible. Credit rate is 15% (30% for infertility treatment costs, 20% for premature and congenitally abnormal infants). No limit for medical expenses of yourself, those aged 6 or younger, those aged 65 or older and persons with disabilities; for other basic deduction dependents' medical expenses, the limit is KRW 7,000,000 per year. Postpartum care center costs are limited to KRW 2,000,000 per birth. Amounts reimbursed by actual-loss insurance, caregiver costs, cosmetic and plastic surgery, health-promotion drugs and costs at foreign medical institutions are excluded. Dependents qualify if they are basic deduction persons, regardless of age or income. Only expenses paid during the working period (including leave) are deducted. The out-of-pocket amount for disability activity support benefits is included for payments from Jan 1, 2024.
- Eligibility
- Medical expenses of the employee and of basic deduction persons
- Timing
- Year-end tax settlement (January-February). Medical expenses are looked up automatically on the National Tax Service simplified service
- How to apply
- Look up on Hometax simplified year-end tax settlement (opens in mid-January each year) and submit to your company
- Caution
- Only expenses paid between Jan 1 and Dec 31 of the year are recognized
Tax
Education Expense Tax Credit (교육비 세액공제)
Your own education expenses in full; 15% credit for children's pre-school and elementary-to-high-school expenses up to KRW 3,000,000 per person and university expenses up to KRW 9,000,000
See eligibility · how to apply · cautions
- Details
- The worker's own education expenses are fully eligible with no limit; for spouses, direct descendants, siblings and adoptees who are basic deduction persons, a 15% credit applies up to KRW 3,000,000 per year per pre-school child or elementary-to-high-school student and KRW 9,000,000 per year per university student (graduate students excluded). Education expenses for direct ascendants are excluded, but special education expenses for persons with disabilities are fully eligible including for direct ascendants. From Jan 1, 2026, art, music and sports academy fees for children under 9 (full age) are also covered. The person claiming the basic deduction for the child claims the child's education expenses. The 2025 amendment abolished the income requirement for direct descendants (annual income of KRW 1,000,000 or less). Student loan repayments are not education expenses (handled by the edu domain).
- Eligibility
- Education expenses of the employee and of dependents who are basic deduction persons
- Timing
- Year-end tax settlement (January-February)
- How to apply
- Look up on Hometax simplified service. Submit receipts for academies, after-school programs, etc.
- Caution
- Only expenses paid during the year are recognized
Tax
Hometown Love Donation Tax Credit (고향사랑기부금 세액공제)
Full credit (100/110) for KRW 100,000 or less, 40% for KRW 100,000-200,000, 15% for over KRW 200,000 (annual limit KRW 20,000,000)
See eligibility · how to apply · cautions
- Details
- For donations from Jan 1, 2026: 100/110 for KRW 100,000 or less, 40% for over KRW 100,000 up to KRW 200,000, and 15% for over KRW 200,000 up to KRW 20,000,000 (30% for special disaster areas). A separate 10% local income tax deduction is applied, so donating KRW 100,000 has the effect of a full refund. A return gift (up to 30% of the donation) is provided separately. The 2026 tax reform proposal suggests regional differentiation (e.g., 50% for the KRW 100,000-200,000 range outside the capital region) (before National Assembly deliberation). You can only donate to local governments other than your own place of residence. Cannot be carried forward.
- Eligibility
- Comprehensive income tax or earned income tax payers (donating to a local government other than your residence)
- Timing
- Donate any time during the year; the deduction is applied at year-end tax settlement (January-February)
- How to apply
- Donate online, e.g., via Hometown Love e-Eum (고향사랑e음, ilovegohyang.go.kr), then check in the simplified service
- Caution
- Donations made by Dec 31 count toward that year's deduction
Tax
Individual Savings Account (ISA) Tax Exemption (개인종합자산관리계좌(ISA) 비과세)
Tax exemption on net profit of KRW 2,000,000 (KRW 4,000,000 for low-income and farmer/fisher types), 9.9% separate taxation on the excess, deposits of KRW 20,000,000 per year
See eligibility · how to apply · cautions
- Details
- Current rules: deposits of KRW 20,000,000 per year (KRW 100,000,000 over 5 years, unused amounts carried over for 5 years), mandatory enrollment of 3 years, tax-free net profit of KRW 2,000,000 (KRW 4,000,000 for low-income and farmer/fisher types), 9.9% separate taxation on the excess, and profit and loss netting. The low-income type requires earned income of KRW 50,000,000 or comprehensive income of KRW 38,000,000 or less. Those subject to comprehensive financial income taxation are excluded. The 'Productive Finance ISA' in the Aug 2026 tax reform proposal (KRW 20,000,000 per year, KRW 200,000,000 total, 3 years to up to 10 years) and the youth type are government proposals before National Assembly deliberation. If you transfer maturity funds to a pension account, an additional tax credit limit applies (10% of the transferred amount, up to KRW 3,000,000). The 2024 government proposal (tax exemption of KRW 5,000,000 and deposits raised to KRW 40,000,000 per year) was not adopted by the National Assembly.
- Eligibility
- Residents aged 19 or older (earned income earners aged 15 or older), excluding those subject to comprehensive financial income taxation
- Timing
- Year-round enrollment (one account per person)
- How to apply
- Bank and securities company apps and branches (trust, discretionary and brokerage types). Korea Financial Investment Association ISA Damoa
- Caution
- Tax exemption applies when closed or matured after the 3-year mandatory enrollment
Tax
Housing Fund Income Deduction (Housing Subscription Savings, Jeonse Loan Principal and Interest, Mortgage Interest) (주택자금 소득공제)
Housing subscription savings: 40% of up to KRW 3,000,000 per year; jeonse loan principal and interest: 40% deduction (combined limit KRW 4,000,000); mortgage interest: KRW 6,000,000 to KRW 20,000,000
See eligibility · how to apply · cautions
- Details
- Housing savings (housing subscription savings, comprehensive housing subscription savings): 40% of contributions up to KRW 3,000,000 per year, for householders not owning a home with gross salary of KRW 70,000,000 or less (from contributions made on Jan 1, 2025, spouses of householders with earned income are included). Repayment of principal and interest on housing lease loans: 40% (national housing size, loan from a financial institution deposited directly into the lessor's account, borrowed within 3 months of moving in or registering the move); these two items have a combined limit of KRW 4,000,000 per year. Interest on long-term mortgage loans: KRW 6,000,000 to KRW 20,000,000 per year depending on repayment period and method (official assessed value of KRW 600,000,000 or less). All three items are included in the overall income deduction limit of KRW 25,000,000. If you owned a home at any point during the year, the housing subscription savings deduction is not available. Household members can claim the deduction only when the householder does not.
- Eligibility
- Earned income earners who are householders not owning a home (up to one home for long-term mortgage loans)
- Timing
- Year-end tax settlement (January-February); for housing subscription savings, submit a certificate of not owning a home to the financial company by the end of February of the following year
- How to apply
- Submit the certificate of not owning a home to the financial company, then look it up on the simplified service. For lease loans, submit the loan receipt
- Caution
- Householder and no-home status are judged as of Dec 31 of the year. The official assessed value limit of KRW 600,000,000 for long-term mortgage loans reflects the 2024 amendment (NTS Q&A states KRW 500,000,000; needs checking)
Tax
Basic Deduction (Personal Deduction for Dependents) and Proposal to Relax the Income Requirement (기본공제(부양가족 인적공제))
Income deduction of KRW 1,500,000 per year per dependent; income requirement: income amount of KRW 1,000,000 (gross salary KRW 5,000,000) or less
See eligibility · how to apply · cautions
- Details
- Basic deduction of KRW 1,500,000 per year for yourself, your spouse and each dependent. The current income requirement is an annual income amount of KRW 1,000,000 or less (gross salary of KRW 5,000,000 or less for earned income only). The 2026 tax reform proposal relaxes this to an income amount of KRW 3,000,000 or less and gross salary of KRW 7,500,000 or less (government proposal before National Assembly deliberation, scheduled to take effect in 2027). Dependent age: direct ascendants 60, direct descendants 20, siblings 20 or 60 and older. Whether a person is a basic deduction person determines who is eligible for medical, education and card deductions. For dual-income couples, only one person can claim the same dependent. Additional deductions (senior citizens, persons with disabilities, etc.) are separate.
- Eligibility
- Employees and family members who live together with them and meet the income requirement
- Timing
- Year-end tax settlement (January-February); report changes in dependents to your company during the year
- How to apply
- At your company's year-end tax settlement, check and report dependents' income and age requirements (family relation certificate if needed)
- Caution
- Requirements are judged as of the end of the tax period (Dec 31)
Tax
Comprehensive Income Tax Filing (May) and Refunds for Missed Year-End Tax Settlement Items (종합소득세 신고(5월))
Final return every year from May 1 to May 31; missed year-end tax settlement deductions can be refunded within 5 years through an amended return request
See eligibility · how to apply · cautions
- Details
- Those with comprehensive income file and pay from May 1 to May 31 of the following year (June 30 for those subject to faithful reporting confirmation). Covers freelancers, side-job workers and workers who could not do year-end tax settlement after leaving mid-year. Deductions missed in year-end tax settlement can be reflected in the May comprehensive income tax filing, or a refund can be requested through an amended return request within 5 years after the statutory filing deadline (Framework Act on National Taxes). If you only have earned income and completed year-end tax settlement, no separate filing is needed. Depending on bookkeeping and faithful reporting status, credits such as the bookkeeping tax credit apply.
- Eligibility
- Those with comprehensive income (business, freelance, rental, pension, other income, etc.), employees who missed year-end tax settlement
- Timing
- May 1-31 each year (until June 30 for those subject to faithful reporting confirmation)
- How to apply
- Hometax (hometax.go.kr) comprehensive income tax filing (pre-filled service), visit a tax office, call 126 (no area code)
- Caution
- Statutory filing deadline May 31. Amended return request within 5 years (after the statutory filing deadline has passed)
Tax
Gift Property Deduction (Spouse KRW 600,000,000, Direct Family KRW 50,000,000, etc.) (증여재산공제)
Gift property deduction aggregated over 10 years: spouse KRW 600,000,000, direct ascendants and descendants KRW 50,000,000 (KRW 20,000,000 for minor recipients), other relatives KRW 10,000,000
See eligibility · how to apply · cautions
- Details
- Deduction limits aggregated over 10 years per recipient: spouse KRW 600,000,000, direct ascendants KRW 50,000,000 (KRW 20,000,000 if the recipient is a minor), direct descendants KRW 50,000,000, other relatives (blood relatives within the 4th degree, in-laws within the 3rd degree) KRW 10,000,000, none for others. After the deduction, tax rates of 10% (up to KRW 100,000,000) to 50% (over KRW 3,000,000,000); gifts from the same person within 10 years are aggregated. A 30% surcharge applies to generation-skipping gifts. Parents (direct ascendants) are treated as the same person with both spouses combined, not each separately. Living and education costs that are customary support for dependents are tax-exempt. The marriage and childbirth deduction has a separate limit.
- Eligibility
- Residents who received a gift
- Timing
- File and pay within 3 months from the end of the month in which the gift date falls
- How to apply
- File gift tax via Hometax or a tax office (call 126, no area code)
- Caution
- 3 months from the end of the month of the gift date. A surcharge applies after that
Tax
Marriage and Childbirth Gift Property Deduction (up to KRW 100,000,000) (혼인·출산 증여재산공제)
When receiving gifts from direct ascendants, an additional deduction of up to KRW 100,000,000 for marriage and childbirth combined, separate from the general deduction
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- Details
- For gifts from Jan 1, 2024: for property received from direct ascendants (parents, grandparents), if received within 2 years before or after the marriage registration date (based on the marriage relation certificate) or within 2 years from the date of birth or adoption, a KRW 100,000,000 deduction applies separately from the existing KRW 50,000,000 deduction (the combined marriage and childbirth limit is KRW 100,000,000, regardless of birth order of children). In effect, adult children can receive up to KRW 150,000,000 with no gift tax. The deduction limit is per recipient for a lifetime. Both bride and groom can each claim it. If the marriage is void or annulled, special rules apply for return and amended returns. The 2026 government proposal's conversion of the marriage and childbirth tax credit to financial support is an income tax matter and separate from the gift deduction.
- Eligibility
- Residents who received gifts from direct ascendants in the period before and after marriage or childbirth (adoption)
- Timing
- File within 3 months from the end of the month in which the gift date falls
- How to apply
- Attach the marriage relation certificate and family relation certificate when filing gift tax on Hometax
- Caution
- Gifts within 2 years before or after marriage and 2 years after childbirth; file gift tax within 3 months
Loans · Finance
Sunshine Loan Youth (Guaranteed Loan for Young People) (햇살론유스)
Young people aged 19-34 with annual income of KRW 35,000,000 or less, up to KRW 12,000,000 per person, 5.0% per year (2.0% for socially disadvantaged)
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- Details
- Eligible: young people aged 19-34 with annual income of KRW 35,000,000 or less who are job seekers (university and graduate students, Academic Credit Bank System students, unemployed youth), early-career workers (1 year or less at a small or medium company), and young business owners in business for 1 year or less. Up to KRW 12,000,000 per person at one time (general living funds KRW 6,000,000 per year and KRW 3,000,000 per time, specific purposes KRW 9,000,000 per year). Interest rate: loan 4.0% + guarantee fee 1.0% = 5.0%, 4.5% for those who succeeded in the National Employment Support System (국민취업지원제도), 2.0% for socially disadvantaged. Grace and repayment up to 13 years (15 years for military enlistment). Once the limit is used, it cannot be used again even after repayment. Excluded if you own excessive assets. Interest support comes from the Lottery Fund. Youth-only benefits are also covered in the youth category.
- Eligibility
- Job seekers, early-career workers and young business owners aged 19-34 with annual income of KRW 35,000,000 or less
- Timing
- Year-round
- How to apply
- Apply via the Korea Inclusive Finance Agency app (Itda), Microfinance Call Center 1397
- Caution
- Depends on the result of the Korea Inclusive Finance Agency's guarantee suitability review after application
Loans · Finance
Saehuimang Holssi II (새희망홀씨 II): Bank Preferential Loan for Ordinary Households
Annual income up to KRW 40,000,000 (up to KRW 50,000,000 for the bottom 20% in credit): up to KRW 35,000,000, 10.5% per year or less
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- Details
- A bank's own loan for people with low personal credit scores or income. Eligible: annual income of KRW 40,000,000 or less, or KRW 50,000,000 or less (credit score in the bottom 20% or lower). Limit within KRW 35,000,000 (with an additional emergency living fund of up to KRW 5,000,000 after 1 or more years of faithful repayment); interest rate 10.5% per year or less (varies by bank and is variable). Preferential rates for basic livelihood recipients, single parents, families with many children, multicultural families, and those supporting parents aged 60 or older. Offered by 14 banks. The government plans to expand supply from KRW 4.0 trillion to KRW 6.0 trillion by 2028 and to increase preferential rates by bank (some banks are pursuing a 7% rate cap). The final decision is made by each bank's own review. Some banks run youth-only Saehuimang Holssi and preferential rates for installment repayment (e.g., Shinhan expands by 0.8 percentage points); limits and rates differ by bank.
- Eligibility
- Annual income of KRW 40,000,000 or less, or KRW 50,000,000 or less and in the bottom 20% in credit
- Timing
- Year-round
- How to apply
- App or counter at one of the 14 participating banks (NongHyup, Shinhan, Woori, SC First, Hana, IBK, Kookmin, Suhyup, iM, Busan, Gwangju, Jeju, Jeonbuk, Kyongnam); Inclusive Finance Itda (서민금융 잇다)
- Caution
- If rejected in the bank's review, consider the general or special Haessal Loan (햇살론) as an alternative
Loans · Finance
Miso Finance (미소금융) Living Fund for the Financially Vulnerable and Youth Mirae-Ieum Loan (청년 미래이음 대출)
Miso Finance eligible borrowers: up to KRW 5,000,000, within 4.5% per year, up to 6 years (Youth Mirae-Ieum: up to 11 years)
See eligibility · how to apply · cautions
- Details
- Living fund for the financially vulnerable: among Miso Finance eligible borrowers (bottom 20% in credit, basic livelihood recipients, near-poverty group, Earned Income Tax Credit eligible), those who fully repaid the Illegal Private Lending Prevention Loan, faithful Miso Finance repayers, people with social consideration, and specially vulnerable groups (residents of special disaster zones and victims of jeonse fraud, illegal private lending or voice phishing). Up to KRW 5,000,000, within 4.5% per year, up to 6 years. Youth Mirae-Ieum Loan: ages 19-34, unemployed or within 1 year of getting a job or starting a business, up to KRW 5,000,000, within 4.5%, up to 11 years (6-year grace period). Education expense support loan up to KRW 5,000,000. People in the bottom 50% or lower in credit with annual income of KRW 35,000,000 or less can also use it (living fund). Those with public records can qualify after meeting certain faithful-repayment conditions. Final credit review is required.
- Eligibility
- Miso Finance eligible borrowers who meet the additional requirements (Youth Mirae-Ieum: ages 19-34)
- Timing
- Year-round
- How to apply
- Visit a Miso Finance branch nationwide, book a consultation on the Inclusive Finance Itda (서민금융 잇다) app, or call 1397
- Caution
- Depends on the result of the credit review
Care · Services · Discounts
Special Debt Discharge for Vulnerable Debtors, Small Debt Discharge and Special Restructuring for Long-Term Overdue Debtors (취약채무자 특별면책·소액채무 면책·장기연체자 특별채무조정)
Small debt of KRW 5,000,000 or less discharged; special discharge for KRW 50,000,000 or less (remainder waived after half is repaid); 30-80% principal reduction for debt overdue 5+ years
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- Details
- Small debt discharge: for basic livelihood recipients, people with severe disabilities and those with income at or below 150% of the minimum cost of living (about KRW 1.54 million for 1 person in 2026), overdue 1 year or more with principal of KRW 5,000,000 or less; after a 1-year interest-free deferral, discharge is reviewed. Special discharge for vulnerable debtors: for basic livelihood recipients, people with severe disabilities, people aged 70 or older, etc., overdue 90 days or more with principal of KRW 50,000,000 or less; principal reduced by up to 50-90%, and if half or more of the adjusted debt is repaid over 3+ years, the remainder is waived. Special restructuring for long-term overdue debtors: overdue 5 years or more and median income at or below 125%, principal reduced by 30-80%, up to 10 years. Income criteria (as of 2026) differ by target group, so check during consultation. This is a separate path from the New Leap Fund (새도약기금; overdue 7+ years).
- Eligibility
- Basic livelihood recipients, people with severe disabilities, people aged 70 or older, low-income long-term overdue debtors
- Timing
- Year-round
- How to apply
- Credit Counseling and Recovery Service (신용회복위원회) 1375, consultation reservation via app or internet, or branch visit
- Caution
- Discharge conditions require meeting both the repayment plan period and the cumulative number of repayments
Care · Services · Discounts
Court Personal Rehabilitation and Personal Bankruptcy Discharge System (법원 개인회생·개인파산 면책 제도)
Personal rehabilitation: remaining debt discharged after 3 years (up to 5) of repayment (unsecured KRW 1 billion, secured KRW 1.5 billion or less); bankruptcy: debt extinguished upon discharge decision
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- Details
- Personal rehabilitation: for individual debtors who are unable to pay or at risk of it and have continuous income; if disposable income (after living expenses) is repaid for 3 years (up to 5) under a repayment plan approved by the court, the remainder is discharged. Debt of KRW 1 billion or less unsecured and KRW 1.5 billion or less secured; 5 years must have passed since any past discharge. Personal bankruptcy: unable to pay and income at or below a certain level; debt is extinguished on a discharge decision (7 years must have passed since a personal bankruptcy discharge and 5 years since a personal rehabilitation discharge). Taxes, fines and compensation for malicious illegal acts are not dischargeable. For bankruptcy, grounds for denying discharge such as hiding assets, wasteful spending or gambling need careful review. Personal rehabilitation is advantageous if you have income. The Credit Counseling and Recovery Service and Korea Legal Aid Corporation provide free help preparing application documents.
- Eligibility
- Individual debtors who are insolvent (continuous income required for personal rehabilitation)
- Timing
- Year-round (repayment plan must be submitted within 14 days of filing for commencement)
- How to apply
- File with the rehabilitation court or main district court with jurisdiction over the debtor's address; electronic litigation (ecfs.scourt.go.kr); Credit Counseling and Recovery Service 1375
- Caution
- After the commencement decision, repayment starts after the creditors' meeting and approval. Discharge history restricts re-filing for 5/7 years
Care · Services · Discounts
Free Application Support for Personal Rehabilitation and Bankruptcy (Credit Counseling and Recovery Service, 신용회복위원회 / Korea Legal Aid Corporation, 대한법률구조공단)
Free document preparation for personal rehabilitation and bankruptcy for those at or below 125% of median income; free support for costs such as service fees and stamp duty for vulnerable groups
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- Details
- Credit Counseling and Recovery Service: for vulnerable debtors who have difficulty repaying through the committee's debt restructuring, have income at or below 125% of the standard median income (기준중위소득) (monthly income of about KRW 3.205 million for 1 person and about KRW 8.118 million for 4 persons in 2026), and new debt in the last 6 months of 30% or less, free consultation, free issuance of a credit counseling report, and free help preparing personal rehabilitation (commencement application and repayment plan) and bankruptcy documents. Basic livelihood recipients, people with disabilities and single parents get free service fees, stamp duty and bankruptcy trustee appointment costs. Basic livelihood recipients, people aged 70 or older and people with severe disabilities get fast-track discharge support. The Korea Legal Aid Corporation Personal Rehabilitation and Bankruptcy Comprehensive Support Center also provides free legal services for those at or below 125% of median income (in cooperation with the Lottery Commission). Support proceeds in this order: Credit Counseling and Recovery Service, then legal support team, litigation-aid lawyers and Korea Legal Aid Corporation, then the court. Centers are opening by region (Jeonju, Uijeongbu, Incheon, Changwon, etc.); check by branch.
- Eligibility
- Debtors at or below 125% of the standard median income (기준중위소득) who have difficulty repaying through the committee's debt restructuring
- Timing
- Year-round
- How to apply
- Credit Counseling and Recovery Service 1375, Korea Legal Aid Corporation 132 (legal consultation), resu.klac.or.kr
- Caution
- Prepare documents such as proof of income. Check the intake schedule of the regional center
Care · Services · Discounts
One-Stop Support for Illegal Private Lending Victims (불법사금융 피해 원스톱 지원: Blocking Illegal Debt Collection and Debtor Representatives)
With one report: illegal collection stopped, accounts and phone numbers blocked, referral for investigation, and help appointing a free debtor representative
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- Details
- At the dedicated illegal private lending desk of the Inclusive Finance Integrated Support Center (서민금융통합지원센터), victims get consultation, evidence collection and reporting; if needed, the Financial Supervisory Service refers the case to the National Police Agency for investigation and personal protection, the Korea Legal Aid Corporation appoints a debtor representative and gives legal consultation, and illegal collection channels (phone numbers, social media, accounts) are blocked. Contacts: National Police Agency 112 (reporting), Financial Supervisory Service 1332 (victim consultation and debtor representative applications), Korea Legal Aid Corporation 132, Korea Inclusive Finance Agency 1397, Credit Counseling and Recovery Service 1375. The Financial Services Commission announced implementation in Q1 2026 (comprehensive one-stop dedicated support system for illegal private lending victims). Interest above the legal maximum rate and illegal collection are subject to reporting.
- Eligibility
- Victims of illegal private lending (unregistered lenders, excessive interest, illegal collection)
- Timing
- Year-round
- How to apply
- Visit an Inclusive Finance Integrated Support Center, Financial Supervisory Service 1332, Credit Counseling and Recovery Service 1375, police 112, or the illegal private lending one-stop victim report (fss.or.kr)
- Caution
- Reporting immediately after the damage occurs is recommended
Care · Services · Discounts
Mistaken Transfer Return Support (착오송금 반환지원: Korea Deposit Insurance Corporation, 예금보험공사)
Money sent by mistake, KRW 50,000 to KRW 100,000,000 per case, within 1 year; the Korea Deposit Insurance Corporation helps recover it on your behalf
See eligibility · how to apply · cautions
- Details
- Mistaken transfer return support: for amounts sent by mistake of KRW 50,000 or more and KRW 100,000,000 or less per case, within 1 year of the date of the mistaken transfer, apply if you asked for a return through a financial company or similar and did not get the money back. Foreigners residing in Korea can also apply. If visiting or applying online is difficult, KDIC staff offer a recovery service where they visit you (apply by phone). For voice phishing damage, the payment suspension procedure takes priority. Check the FAQ for details, such as whether mistaken transfers via simple remittance are included.
- Eligibility
- Senders who made a mistaken transfer (KRW 50,000 to KRW 100,000,000 per case) and whose return request to the financial company was unsuccessful
- Timing
- Within 1 year of the mistaken transfer date
- How to apply
- KDIC Financial Safety Portal fins.kdic.or.kr, mobile app, phone 1588-0037
- Caution
- 1 year after the transfer
Care · Services · Discounts
Find Your Dormant Deposits (휴면예금 찾아줌: Korea Inclusive Finance Agency, 서민금융진흥원)
Search for and apply for payout of dormant deposits, insurance money, checks and unclaimed share dividends whose statute of limitations has run (deposits 5 years, insurance money 3 years)
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- Details
- Search for and apply for payout of dormant deposits contributed to the Korea Inclusive Finance Agency (deposits and installment savings, 5-year limitation), dormant insurance money (cancellation refunds, maturity payouts, etc., 3 years), dormant cashier's checks (5 years) and unclaimed share dividends (10 years). Heirs can also look up dormant deposits contributed under a deceased original rights holder's name (for financial transactions of heirs across all financial sectors, use the FSS heir financial transaction lookup). Even after contribution, the original rights holder can claim payment at any time. Contribution is notified through mobile e-notices (text, KakaoTalk, Naver). A donation receipt is issued for donations.
- Eligibility
- Original rights holders of dormant deposits or insurance money, or their heirs
- Timing
- Year-round
- How to apply
- Inclusive Finance Itda (서민금융 잇다), Government24 (정부24), Account Info (어카운트인포), Find My Insurance (내보험찾아줌), bank apps, Inclusive Finance Integrated Support Center (reserve via 1397), 1332
- Caution
- No separate claim deadline (for the original rights holder)
Care · Services · Discounts
Look Up Hidden Financial Assets and Unclaimed Money at Once (숨은 금융자산·미수령금 한번에 조회: Account Info, Dormant Accounts, KDIC Unclaimed Money)
Find forgotten accounts, dormant accounts, unclaimed insurance money and court deposits through one integrated search
See eligibility · how to apply · cautions
- Details
- Dormant Account Integrated Lookup System (sleepmoney.or.kr): look up dormant accounts held by banks, Korea Post, insurers and the Korea Inclusive Finance Agency. KDIC Financial Safety Portal unclaimed money integrated application: find hidden money. Court deposit case search (ekt.scourt.go.kr): dormant court deposits. Korea Financial Telecommunications and Clearings Institute Account Info Integrated Management Service (Account Info, payinfo.or.kr): view all your accounts at a glance and suspend payments. Heirs use the FSS heir financial transaction lookup. Lookups are free. A financial certificate or joint certificate is required. Beware of impersonating sites: check the official domain.
- Eligibility
- Any citizen looking for their own (or an heir's) financial assets
- Timing
- Year-round
- How to apply
- sleepmoney.or.kr, fins.kdic.or.kr, ekt.scourt.go.kr, payinfo.or.kr, Government24 (정부24)
- Caution
- No separate deadline (statute of limitations on rights varies by product)
Tax
Earned Income Tax Credit (근로소득세액공제)
55% of calculated tax up to KRW 1,300,000, 30% of the excess (limit by gross salary: KRW 740,000 to KRW 200,000)
See eligibility · how to apply · cautions
- Details
- A 55% credit applies to calculated tax up to KRW 1,300,000; for the excess, KRW 715,000 + 30% of the amount above KRW 1,300,000. Limits: KRW 740,000 for gross salary up to KRW 33,000,000; for gross salary up to KRW 70,000,000, KRW 740,000 - (gross salary - KRW 33,000,000) x 0.008 (minimum KRW 660,000); for gross salary up to KRW 120,000,000, KRW 660,000 - (gross salary - KRW 70,000,000) x 1/2 (minimum KRW 500,000); above that, KRW 500,000 - excess x 1/2 (minimum KRW 200,000). Applied automatically in year-end tax settlement, so no separate application is needed. Daily workers are not subject to year-end tax settlement.
- Eligibility
- Residents with earned income (excluding daily workers)
- Timing
- Reflected automatically in year-end tax settlement (January-February each year, for the previous year's income)
- How to apply
- Applied automatically in your company's year-end tax settlement. Check with the Hometax (hometax.go.kr) year-end tax settlement preview and simulation
- Caution
- No application. If missed, correct it through the May comprehensive income tax filing or an amended return request
Tax
Standard Tax Credit (KRW 130,000 per Year) (표준세액공제)
A tax credit of KRW 130,000 per year if you do not claim special income deductions, special tax credits or the monthly rent deduction
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- Details
- Residents with earned income who do not claim special income deductions, special tax credits (insurance premiums, medical expenses, education expenses, donations) or the monthly rent tax credit receive a KRW 130,000 per year credit from calculated tax. If the total of the deductions you claim is less than KRW 130,000, the standard tax credit is more favorable; the two cannot be applied together. Not available to non-residents. National Tax Service guidance includes health and employment insurance premiums, housing lease loans and long-term mortgage loans in the scope of special income deductions. Hometax simulation automatically selects the more favorable option.
- Eligibility
- Residents with earned income (excluding daily workers)
- Timing
- Determined automatically at year-end tax settlement
- How to apply
- Company year-end tax settlement or Hometax simulation
- Caution
- No application (the more favorable method is applied automatically)
Tax
Donation Tax Credit (Political Funds, Special and General) (기부금 세액공제)
Political fund donations of KRW 100,000 or less: 100/110; other donations: 15% (30% for the portion above KRW 10,000,000) tax credit
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- Details
- Political fund donations: 100/110 for KRW 100,000 or less, 15% above KRW 100,000, 25% above KRW 30,000,000 (limit: earned income amount). Special donations (national defense contributions, disaster relief, etc.) have a limit of the full earned income amount; employee stock ownership association donations 30%; general donations 30% of earned income amount (10% for religious organizations). Special, employee stock ownership and general donations: 15% (30% for the portion above KRW 10,000,000). Political fund, Hometown Love and employee stock ownership association donations cannot be carried forward and only amounts paid by the worker themselves are deductible. Amounts over the limit can be carried forward for 10 years only for general and special donations.
- Eligibility
- Donations paid by the employee and by dependents who are basic deduction persons
- Timing
- Year-end tax settlement (January-February)
- How to apply
- Automatically looked up on Hometax simplified service; for missing items, submit donation receipts to your company
- Caution
- Expenses for the year. If not on the simplified service, submit receipts separately
Tax
Protection-Type Insurance Premium Tax Credit (보장성보험료 세액공제)
12% tax credit on protection-type insurance premiums up to KRW 1,000,000 per year (15% for insurance dedicated to persons with disabilities)
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- Details
- A 12% credit on premiums paid for basic deduction persons for protection-type insurance such as life and injury insurance, up to KRW 1,000,000 per year (maximum KRW 120,000). For protection-type insurance dedicated to persons with disabilities, where the insured and beneficiary is a person with a disability, 15% up to KRW 1,000,000 per year (maximum KRW 150,000). Savings-type insurance premiums are not covered. General protection-type insurance and disability-dedicated insurance each have their own KRW 1,000,000 limit. National health insurance and employment insurance premiums are covered by a separate income deduction.
- Eligibility
- Employees who paid premiums for themselves and for basic deduction persons
- Timing
- Year-end tax settlement (January-February)
- How to apply
- Premiums are looked up automatically on the Hometax simplified service
- Caution
- Premiums paid during the year
Tax
Inheritance Deductions (Lump-Sum Deduction KRW 500,000,000 and Spousal Deduction) (상속공제)
Lump-sum deduction of KRW 500,000,000 (or the larger of basic + personal deductions), spousal deduction minimum KRW 500,000,000 to maximum KRW 3,000,000,000, tax rates 10-50%
See eligibility · how to apply · cautions
- Details
- From the taxable value of the inheritance, the larger of (basic deduction + other personal deductions) and the KRW 500,000,000 lump-sum deduction is deducted, and the spousal deduction, financial property inheritance deduction and co-residence housing inheritance deduction are also available (subject to the overall limit). Tax rates range from 10% for up to KRW 100,000,000 to 50% above KRW 3,000,000,000. If there is a spouse, a KRW 500,000,000 lump-sum + KRW 500,000,000 spousal deduction usually means no inheritance tax up to KRW 1,000,000,000. As far as confirmed, the 2026 tax reform proposal does not change the general deductions and focuses on reforming family business inheritance and stock valuation. Gifts made within 10 years before death (5 years for non-heirs) are added to the inherited property. The spousal deduction of KRW 500,000,000 to KRW 3,000,000,000 is limited to the statutory inheritance share. File within 6 months from the end of the month in which death occurred (9 months if abroad).
- Eligibility
- Heirs liable to pay inheritance tax
- Timing
- File and pay within 6 months from the end of the month in which the date of death falls
- How to apply
- File inheritance tax via Hometax or the tax office with jurisdiction; look up property through Safe Inheritance One-Stop Service (안심상속 원스톱, Government24)
- Caution
- 6 months (9 months for residents abroad). Installment payment and payment in kind can be requested
Tax
Tax-Free Comprehensive Savings (Basic Pension Recipients Aged 65 or Older, Persons with Disabilities, Persons of National Merit) (비과세종합저축)
Income tax exemption on deposit and savings interest and dividends up to KRW 50,000,000 per person (until Dec 31, 2028)
See eligibility · how to apply · cautions
- Details
- Income tax exemption on interest and dividend income from savings held by persons of national merit, persons with disabilities and others, and by Basic Pension (기초연금) recipients aged 65 or older. The 2025 tax amendment extended the application deadline to Dec 31, 2028 and narrowed the group aged 65 or older to Basic Pension recipients. The limit is KRW 50,000,000 principal per person (Restriction of Special Taxation Act). Adjusted so that general residents aged 65 or older are excluded (check with the financial institution for the date the amendment takes effect). The KRW 50,000,000 limit has not been confirmed in the text of the law (official confirmation needed).
- Eligibility
- Persons of national merit, persons with disabilities and others, and Basic Pension recipients aged 65 or older
- Timing
- Year-round enrollment
- How to apply
- Enroll in tax-free comprehensive savings at a bank or mutual finance branch, with proof such as Basic Pension receipt
- Caution
- Accounts opened by Dec 31, 2028
Care · Services · Discounts
Sunshine Loan Card (Credit Card Guarantee for Low-Credit Borrowers) (햇살론카드)
Guarantee for issuing credit cards to low-credit borrowers in the bottom 20% of credit (limit KRW 2,000,000, KRW 3,000,000 with faithful use)
See eligibility · how to apply · cautions
- Details
- Eligible: annual disposable income of KRW 6,000,000 or more, credit score in the bottom 20% (KCB 700 or below or NICE 749 or below, as of Apr 1, 2026), and completion of the 3 mandatory Sunshine Loan Card courses. Guarantee limit up to KRW 2,000,000 for new applicants (KRW 3,000,000 with faithful use); the card usage limit is the guarantee limit minus KRW 200,000. Guarantee period up to 5 years. Handling card companies: Lotte, Hyundai, Kookmin, Samsung, Shinhan, Woori and Hana. Card loans, installments (up to 6 months limit) and some business categories are restricted. Only one card per person. If you do not repay normally, the Korea Inclusive Finance Agency repays on your behalf and exercises the right of reimbursement. Re-application is possible 60 days after cancellation.
- Eligibility
- Low-credit borrowers in the bottom 20% of credit with disposable income of KRW 6,000,000 or more
- Timing
- Year-round
- How to apply
- Apply for the guarantee on the Korea Inclusive Finance Agency app; after completing the mandatory education on the education portal (edu.kinfa.or.kr), apply to a card company
- Caution
- Contract not possible without completing education. Guarantee and card reviews may reject you
Loans · Finance
Haessal Loan 119 (햇살론119): Working Capital for Sole Proprietors in Bank Debt Restructuring
Sole proprietors faithfully repaying under bank debt restructuring for 3+ months: up to KRW 30,000,000, within 6% per year, 5 years
See eligibility · how to apply · cautions
- Details
- For sole proprietors with annual sales of KRW 1.5 billion or less who have been faithfully repaying under bank debt restructuring (Sole Proprietor Loan 119 / Small Business Owner 119 Plus; 개인사업자대출119·소상공인119Plus) for 3 months or more (no sales requirement for young business owners aged 34 or under). Up to KRW 30,000,000 (one additional loan), interest rate set by each bank (within 6% per year) plus a guarantee fee of 0.5% per year, 5 years (1-year grace period + 4 years of equal principal repayment), no early repayment fee. Available only at the bank where you are currently using debt restructuring, among the 13 partner banks. Users of the Credit Counseling and Recovery Service (신용회복위원회) personal workout or personal rehabilitation are handled separately.
- Eligibility
- Sole proprietors with annual sales of KRW 1.5 billion or less who have been faithfully repaying under bank debt restructuring for 3 months or more
- Timing
- Year-round (varies depending on each bank's launch schedule)
- How to apply
- Counter at a partner bank (13 banks including Kookmin, Shinhan, Woori, Hana, NongHyup and IBK); guarantee inquiries 1397
- Caution
- Not available if you are overdue on the date of application. Guarantee or bank review may be rejected
Loans · Finance
Saitdol Loan (사잇돌대출): Guaranteed Mid-Rate Loan for Mid-Credit Borrowers
Mid-rate loans for mid-credit borrowers (bottom 20-50% in credit); KRW 3.6 trillion to be supplied in 2026 and rate cuts being pursued
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- Details
- A mid-rate loan backed by a Seoul Guarantee Insurance guarantee. April 2026 overhaul: the supply requirement was changed to at least 70% to borrowers in the bottom 20-50% in credit, concentrating on mid-credit borrowers; insurance premium rates cut by up to 5.2 percentage points; a new sole-proprietor-only Saitdol (limit raised from KRW 20,000,000 to KRW 30,000,000) created; and providers expanded from banks, mutual finance and savings banks to include card and capital companies. Rates and limits differ by provider. Low-credit borrowers in the bottom 20% or lower are classed as targets of policy inclusive finance such as Haessal Loan (햇살론). Check specific rates and limits with each financial company.
- Eligibility
- Mid-credit borrowers in the bottom 20-50% in credit (sole-proprietor-only product is separate)
- Timing
- Year-round (launch timing varies by provider)
- How to apply
- App or counter at participating banks, savings banks and mutual finance institutions. Compare products on the Financial Consumer Information Portal FINE (fine.fss.or.kr)
- Caution
- The credit finance sector and sole-proprietor Saitdol are to launch in stages during 2026 (announced by the Financial Services Commission on April 27)
Loans · Finance
Credit Counseling and Recovery Service (신용회복위원회) Microfinance (Small Loans for Faithful Repayers of Restructured Debt)
Faithful repayers 6+ months after debt restructuring is confirmed: up to KRW 15,000,000, within 4.0% per year, up to 5 years
See eligibility · how to apply · cautions
- Details
- Eligible: those who have been faithfully repaying for 6 months or more after confirmation of debt restructuring by the Credit Counseling and Recovery Service, court personal rehabilitation, the New Start Fund (새출발기금) or creditor financial institution debt restructuring under the Individual Debtor Protection Act (including those within 3 years of full repayment). Guaranteed by the Credit Counseling and Recovery Service on commission, limit up to KRW 15,000,000, interest within 4.0% per year, up to 5 years of equal principal-and-interest installments, guarantee fee borne by the committee (within 0.5% per year). The 2026 overhaul of policy inclusive finance aims to expand the scale of 3-4% small loans by more than 3 times. May be rejected depending on internal credit evaluation and ability to repay. Faithful repayers of restructured debt get preferential treatment when using products such as Haessal Loan Youth (햇살론유스).
- Eligibility
- Those who have faithfully repaid for 6 months or more after debt restructuring was confirmed
- Timing
- Year-round
- How to apply
- Credit Counseling and Recovery Service (신용회복위원회) 1600-5500; apply for the small loan via app or internet
- Caution
- Apply within 3 years of full repayment
Care · Services · Discounts
Find Unclaimed National Pension Money and Overpaid Premiums (국민연금 미수령금·과오납 보험료 찾기)
Look up and claim unclaimed National Pension, additional payouts and overpaid premiums
See eligibility · how to apply · cautions
- Details
- Claim Your National Pension (국민연금 찾아가세요): look up National Pension not yet received or additional amounts payable after pension payments began (covers those eligible for guidance on claiming old-age pension, divorce-split pension or lump-sum refund; processed after a branch staff member checks). Overpayment lookup: check for excess pension premiums paid (for those decided to be eligible for a refund). When processing a deceased person's assets in one go (Peaceful Inheritance, 안심상속), check whether the person had any enrollment record. If you have a National Pension receipt history, online claims are not possible (visit a branch). A certificate is required.
- Eligibility
- National Pension members, those with past enrollment history, and heirs
- Timing
- Year-round
- How to apply
- National Pension Service e-civil services (nps.or.kr) lookup, branch visit, 1355
- Caution
- A statute of limitations applies to benefit claims, so claim early