For every Filipino worker in the land of the morning calm, the most exciting day is payday. However, many workers do not know exactly how to calculate your salary in South Korea. Understanding your pay stub (월급명세서) is crucial to ensuring you receive every won you have worked for. In this comprehensive guide, Teacher Nova will break down the 2026 minimum wage and show you the exact formulas to calculate your salary in South Korea effectively.

Note on Currency: All Peso (PHP) conversions below are estimated at 1 KRW = 0.042 PHP. Please check current rates as they may change.

(Maaaring magbago ang halaga ng Peso depende sa kasalukuyang palitan ng pera.)

1. The Foundation: 2026 Minimum Wage

To accurately calculate your salary in South Korea, you must start with the legal minimum wage. The South Korean government reviews this every year. For 2026, the hourly wage is approximately 10,260 KRW. This means if you work the standard 209 hours per month (which includes paid weekly rest hours), your basic monthly salary is:

• Monthly Basic Salary: 2,144,340 KRW (≈ 90,062 PHP)

Ang basic na sahod ay nakabase sa minimum wage. Para ma-calculate your salary in South Korea, kailangang alam mo na ang 209 hours ay kasama na ang paid weekly rest days.

2. Calculating Extra Allowances (The Real Money)

Most EPS workers earn more than the basic pay through overtime. Here is the secret to calculate your salary in South Korea when you work extra hours:

3. Don’t Forget the Severance Pay (Toejik-geum)

A huge part of your long-term income is the severance pay. When you calculate your salary in South Korea for your entire contract, remember that if you work for more than one year at the same company, you are entitled to “Toejik-geum.”

For example, if you work for 4 years, you may receive around 8,577,360 KRW (≈ 360,249 PHP) as a lump sum upon leaving. This is your retirement fund for a new business in the Philippines!

4. Understanding Mandatory Deductions

Your net pay will be your gross pay minus about 8% to 10% for the following mandatory insurances. Although it feels like a deduction, most of these provide you with security:

• National Pension: 4.5% (Refundable when you return to PH!)
• Health Insurance: High-quality medical care in Korea.
• Income Tax: Small tax based on your earnings.

5. Step-by-Step Practical Calculation Example

Let’s calculate your salary in South Korea for a typical busy month with 30 hours of overtime and 10 hours of night shift:

6. Final Tips from Teacher Nova

To successfully calculate your salary in South Korea every month, I recommend using a “Salary Note” app. Input your hours daily. Having your own records makes you a smart and respected worker in Korea.

Gumamit ng Salary Note app para ma-track ang iyong oras bawat araw. Ang tamang kaalaman sa sahod ay susi sa iyong tagumpay!

Success in Korea is not just about working hard, but also about knowing your rights. Follow Teacher Nova on KNOVA.KR for the most accurate guides for Filipinos in Korea!