195 workers got over 100 mln won in 2024 year-end tax refunds
In short
Data from the National Tax Service shows 195 salaried workers received more than 100 million won each in year-end tax settlements for 2024, a total of 59.9 billion won and an average of 307.3 million won per person. At the same time, 1,794 workers paid more than 100 million won in additional tax, a combined 405.8 billion won. Of 21.08 million settled workers, 70.5% received refunds totalling 12.5865 trillion won, while 17.9% paid 4.4181 trillion won extra.
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In the year-end tax settlement for 2024, 195 salaried workers in South Korea received refunds of more than 100 million won each, according to National Tax Service data provided to Rep. Chung Sung-ho of the Democratic Party on the National Assembly Finance and Economy Planning Committee. The refunds to that group totalled 59.9 billion won, an average of 307.3 million won per person. [ 1 , 2 , 3 ]
The number of such large refund recipients has risen each year: 141 for the 2022 year of attribution, 171 for 2023 and 195 for 2024. Their combined refunds grew from 24 billion won to 38.9 billion won to 59.9 billion won, and the average per person from 170.48 million won to 227.25 million won to 307.3 million won. Maeil Business reported that over two years the headcount rose 38% and the refund total 2.5 times. [ 1 , 2 , 3 ]
Large additional payments also increased. For 2024, 1,794 workers paid more than 100 million won in additional tax, a combined 405.8 billion won, or an average of 226.21 million won each. The top 0.1% of additional payers, 3,772 people, paid 561.3 billion won in total, an average of 148.81 million won, on average gross pay of 1.16093 billion won — more than double the 564.2 million won average gross pay of the top 0.1% of refund recipients. Electronic Times reported that this group's final tax was 1.6246 trillion won while only 1.0589 trillion won had been withheld in advance, about 65% of the final liability. [ 1 , 2 , 3 ]
Across all 21,078,535 workers in the 2024 settlement, 14,854,954 (70.5%) received refunds totalling 12.5865 trillion won, while 3,772,299 (17.9%) paid additional tax of 4.4181 trillion won. The top 0.1% by refund amount, 14,854 people, received 440.1 billion won, an average of 29.63 million won, with total gross pay of 8.3807 trillion won, or 564.2 million won each. Seoul Economic Daily reported that 42 billion won of this group's 107.9 billion won in tax credits, 39%, came from foreign tax credits. [ 1 , 2 , 3 ]
For most workers the amounts were modest. The average refund was 847,000 won but the median was 367,000 won, with Maeil Business noting the average was 2.3 times the median. Electronic Times reported that 11,079,156 refund recipients, 74.6%, received 1 million won or less, accounting for 3.3548 trillion won, or 26.7% of all refunds. Among those paying extra, 2,987,791, or 79.2%, paid 1 million won or less, and the median additional payment was 281,000 won against an average of 1.171 million won. [ 1 , 2 , 3 ]
The documents state that additional payments by salaried workers rose from 3,544,553 people and 4.0091 trillion won for the 2023 year of attribution to 3,772,299 people and 4.4181 trillion won for 2024, increases of 6.4% and 10.2%. Average additional payments per person rose for a third straight year, from 1.078 million won in 2022 to 1.131 million won in 2023 and 1.171 million won in 2024, while average refunds rose from 771,000 won to 824,000 won to 847,000 won. [ 1 , 2 , 3 ]
Rep. Chung said cases of refunds or additional payments above 100 million won are increasing every year and that the tax authority needs to examine why the amount withheld during the year diverges so far from the actual tax due. None of the documents explains the cause, and none states whether any change to the tax rules is planned. [ 1 , 2 , 3 ]
Why it matters
The figures, released by an opposition lawmaker from National Tax Service data, point to a widening gap between the tax withheld from paychecks and the final tax owed for a small number of high-income earners. Rep. Chung Sung-ho said the tax authority should examine why that gap grows at the withholding stage, making the annual settlement a subject of parliamentary scrutiny. The documents give no indication of how the tax rules themselves might change.
Key facts
- In the 2024 year-end settlement, 195 salaried workers received refunds of more than 100 million won, totalling 59.9 billion won and averaging 307.3 million won each. [ 1 , 2 , 3 ]
- The number of 100-million-won-plus refund recipients rose from 141 in 2022 to 171 in 2023 and 195 in 2024, with the refund total rising from 24 billion won to 38.9 billion won to 59.9 billion won. [ 1 , 2 , 3 ]
- 1,794 workers paid more than 100 million won in additional tax for 2024, a combined 405.8 billion won and an average of 226.21 million won each. [ 1 , 2 , 3 ]
- Of 21,078,535 settled workers, 14,854,954 (70.5%) received refunds worth 12.5865 trillion won, while 3,772,299 (17.9%) paid 4.4181 trillion won in additional tax. [ 1 , 2 , 3 ]
- The top 0.1% of refund recipients, 14,854 people, received 440.1 billion won, an average of 29.63 million won, and had average gross pay of 564.2 million won. [ 1 , 2 , 3 ]
- The average refund was 847,000 won but the median was 367,000 won, indicating a small number of large refunds lifted the average. [ 1 , 2 , 3 ]
- Additional tax payments rose 6.4% in headcount and 10.2% in amount from the 2023 year of attribution to 2024. [ 1 , 2 , 3 ]
- Rep. Chung Sung-ho of the Democratic Party, citing National Tax Service data, said the tax authority needs to examine why withheld tax diverges so far from the actual tax due. [ 1 , 2 , 3 ]
Confirmed by several sources
- 195 workers received refunds of more than 100 million won for the 2024 year of attribution, a total of 59.9 billion won and an average of 307.3 million won each. [ 1 , 2 , 3 ]
- 1,794 workers paid more than 100 million won in additional tax for 2024, totalling 405.8 billion won, an average of 226.21 million won. [ 1 , 2 , 3 ]
- Of 21,078,535 workers in the 2024 settlement, 14,854,954 (70.5%) received refunds totalling 12.5865 trillion won. [ 1 , 2 , 3 ]
- 3,772,299 workers (17.9%) paid additional tax, totalling 4.4181 trillion won. [ 1 , 2 , 3 ]
- The top 0.1% of refund recipients, 14,854 people, received 440.1 billion won, averaging 29.63 million won, with average gross pay of 564.2 million won. [ 1 , 2 , 3 ]
- The data comes from National Tax Service figures provided to Rep. Chung Sung-ho of the Democratic Party on the National Assembly Finance and Economy Planning Committee. [ 1 , 2 , 3 ]
- The average refund was 847,000 won and the median refund was 367,000 won. [ 1 , 2 , 3 ]
- Rep. Chung said the tax authority should look into why withheld tax diverges so far from the final tax due. [ 1 , 2 , 3 ]
Still unclear
- Why withheld tax diverges so widely from the final tax liability for a small group. All three documents report Rep. Chung's call for the tax authority to examine the cause, but none gives an explanation; the documents state the cause has not been established publicly.
- That 39% of the top 0.1% refund recipients' tax credits (42 billion won of 107.9 billion won) came from foreign tax credits. Only one document reports this breakdown, and it is a single-source detail.
- That the top 0.1% of additional payers had 1.0589 trillion won withheld against a final tax of 1.6246 trillion won, about 65%. This ratio appears in only one document, which attributes its figures to a News1 report.
- That 11,079,156 refund recipients (74.6%) received 1 million won or less, totalling 3.3548 trillion won, or 26.7% of all refunds. This breakdown appears in only one document and is not corroborated by the others.