Guides on Korean time deposits. We work through the 15.4% withholding tax and what you actually receive by principal, how to split funds above the KRW 100 million protection ceiling, and how to match maturities for money with a known spend date. Every advertised rate is quoted before tax, so converting to after-tax is where the real return shows.
Korean savings banks are covered by the same KRW 100 million deposit protection as banks. Here is what actually differs, and what the 0.55 percentage point rate gap comes to in cash.
Crossing Korea’s comprehensive taxation threshold for interest and dividends does not necessarily increase your tax bill. Worked examples using the National Tax Service comparative calculation show what actually determines the extra amount.
Jeonse deposits, moving costs and other funds with a known spend date need a different approach. Rates for 1 to 6 month deposits, compared on the 2026-07 FSS disclosure.
Korea’s deposit protection limit doubled from KRW 50,000,000 to KRW 100,000,000, effective 1 September 2025. Here is what the change covers and how to divide balances that exceed it.
Interest earned on Korean deposits and savings accounts is taxed at 15.4%. Here is how that rate is composed, what you actually receive by principal amount, and when comprehensive taxation applies.