| (1) | Any income tax withheld by a withholding agent shall be an amount calculated by applying the tax rates classified under the following subparagraphs (hereinafter referred to as the "withholding tax rate") to the income or revenue amount paid by the withholding agent: <Amended by Act No. 5031, Dec. 29, 1995; Act No. 5532, Apr. 10, 1998; Act No. 5552, Sep. 16, 1998; Act No. 5580, Dec. 28, 1998; Act No. 6051, Dec. 28, 1999; Act No. 6292, Dec. 29, 2000; Act No. 6557, Dec. 31, 2001; Act No. 7006, Dec. 30, 2003; Act No. 7319, Dec. 31, 2004; Act No. 7837, Dec. 31, 2005; Act No. 8144, Dec. 30, 2006; Act No. 9270, Dec. 26, 2008> |
| 1. | With respect to any interest income amount, the following tax rates: |
| (a) | Where a resident who paid any interest and discount amount accruing from his own long-term bonds as determined by Presidential Decree makes an application for separate taxation to the relevant financial institutions or their payers under conditions prescribed by Presidential Decree, 30/100 for the interest and discount amount; |
| (b) | 25/100 for any profits accruing from a loan for non-business; and |
| (c) | 14/100 for other interest income amount; |
| 2. | 14/100 on any dividend incomes (25/100 for the dividend income of the joint investment business proprietors under the provisions of Article 17 (1) 6-3); |
| 3. | 3/100 for any business income amount determined by Presidential Decree; |
| 4. | Basic tax rate for any Class A earned income amount; |
4-2. The following tax rates for any annuity income amount:
| (a) | The basic tax rate for an annuity income falling under Article 20-3 (1) 1 and 2; or |
| (b) | 5/100 for any annuity income falling under Article 20-3 (1) 3, 4 and 4-2; |
| 5. | 8/100 for any earned income amount of a daily-paid worker; |
| 6. | 20/100 for miscellaneous income amount: Provided, That cases where subparagraphs 8 and 9 apply shall not be included; |
| 7. | Basic tax rate for any Class A retirement income amount and any excess refund of a workplace mutual aid association as prescribed in Article 63; |
| 8. | 5/100 for any income amount accruing from service charges determined by Presidential Decree; and |
| 9. | 30/100 for an amount in excess of 300 million won in cases where the income amount falling under Article 14 (3) 7 exceeds 300 million won. |
| (2) | Notwithstanding the provisions of paragraph (1), the withholding tax rate for any interest income and dividend income falling under each of the following subparagraphs shall be as follows: <Amended by Act No. 6557, Dec. 31, 2001; Act No. 7319, Dec. 31, 2004; Act No. 8144, Dec. 30, 2006> |
| (3) | Notwithstanding the provisions of paragraph (1) 4 and 4-2 (a), the simplified tax table for earned income prescribed by Presidential Decree (hereinafter referred to as the "simplified earned income tax table") and the simplified tax amount table for annuity income prescribed by Presidential Decree (hereinafter referred to as the "simplified annuity income tax table") shall apply to the withholding tax rates for the monthly earned income of Class A or annuity income falling under Article 20-3 (1) 1 and 2. <Amended by Act No. 6292, Dec. 29, 2000> |
| (4) | In calculating a withholding tax amount under paragraph (1), if the foreign income tax amount as determined by Presidential Decree, on the income amount as prescribed in Article 127 (1) 1 and 2, is paid in a foreign country, the amount calculated by deducting such foreign income tax amount from the withholding tax amount calculated under paragraph (1), shall be the withholding tax amount. In this case, if the foreign income tax amount exceeds the withholding tax amount calculated under paragraph (1), such excess amount shall be considered not to exist. <Added by Act No. 5031, Dec. 29, 1995> |