Starting from July 1st, 2023, the salary limit amount for calculating the Korean National Pension (9%) will be updated.
The upper limit for the monthly salary amount will be 5,900,000 KRW, with both the employee and employer contributing 265,500 KRW each. The lower limit for the monthly salary amount will be 370,000 KRW, with both the employee and employer contributing 16,650 KRW each.
Affected services: Payroll Services, Hybrid Payroll, EOR & PEO
