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Lottery Winnings Tax Calculator

See your take-home amount after withholding tax

Actual take-home
0
Prize0
Income tax0
Local income tax0
Total withholding0
This is an estimate. Prizes of 2,000,000 KRW or less are tax-free; above that, 22% (incl. local tax) applies up to 300,000,000 KRW and 33% on the excess, per Korea's Income Tax Act Article 129. Confirm the exact amount with the lottery operator.

Frequently asked questions

Do I lose money if my prize is just over 2,000,000 KRW?

Yes, that can happen. Prizes of 2,000,000 KRW or less are entirely tax-free, but cross that line by even 1 KRW and tax applies to the whole prize, not just the excess. A 1,999,000 KRW prize can leave you with more cash than a 2,010,000 KRW one after tax.

How does the 300,000,000 KRW threshold work?

It is a progressive split: 22% applies to the portion up to 300,000,000 KRW, and only the amount above that is taxed at 33%. The whole prize is never taxed at 33%.

Do I need to file anything after winning?

In most cases, the withholding tax is final (separate taxation) and no additional filing is required, aside from unusual situations such as multiple large wins in the same year. Check with a tax professional for your specific case.

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