South Korea's monthly rent tax credit under the Korean Income Tax Act for Korean non-homeowner wage earners: 17% for salary ≤ 55M KRW, 15% for 55M–70M KRW, with an annual rent cap of 10M KRW (max refund 1.7M KRW).
| ① Korean non-homeowner | Applicant and Korean household members own no home |
| ② Korean salary ≤ 70M | Korean comprehensive income > 60M excluded |
| ③ Korean standard house | ≤ 85㎡ or Korean standard value ≤ 400M KRW (raised from 300M in 2023) |
| ④ Korean self-rental + transfer | Korean self-named contract + Korean residence registration |
| ⑤ Actual Korean payment | Korean transfer / card / cash receipt proof |
| Korean salary bracket | Rate | 10M KRW cap → max refund |
|---|---|---|
| ≤ 55M KRW | 17% | 1,700,000 KRW |
| 55M – 70M KRW | 15% | 1,500,000 KRW |
| > 70M KRW | 0% (Korean not eligible) | 0 |
| Korean target | Korean ≤ 70M salary worker monthly rent credit |
| vs Korean jeonse loan deduction | 40% of Korean jeonse-loan repayment up to 4M KRW |
| Korean cash receipt | Korean cash receipt registration adds Korean income deduction |
| Korean self-employed | File at Korean May tax; Korean wage earner uses salary bracket |
| Korean NTS hotline | 126 |
| Korean Hometax center | 1566-3636 |
| Korean district tax office | Varies by Korean region |
This South Korea–only summary follows Korea's Income Tax Act §59-4 and Korean NTS guidance (as of April 2026). Korean rates, caps, and requirements may change per annual Korean tax-amendment bill; actual Korean refund is final at Korean year-end review. Korean landlord income visibility should be considered. Non-binding Korean reference — confirm with Korean Hometax or Korean 126.
South Korea's Monthly Rent Tax Credit (월세 세액공제) under the Korean Income Tax Act §59-4 is a direct Korean tax credit for Korean non-homeowner wage earners renting a standard-size Korean residence (≤ 85㎡ or Korean standard value ≤ 400M KRW). Korean 2024 revision raised rates to 17% (Korean salary ≤ 55M), 15% (55M–70M), and raised the cap from 7.5M to 10M KRW (max Korean refund 1.7M KRW). Korean requirements: no-home Korean household, Korean gross salary ≤ 70M (Korean comprehensive income ≤ 60M), Korean self-named lease, Korean residence registration, and Korean rent-payment proof. Korean wage earners file via Korean year-end settlement (employer); Korean self-employed file in Korean May. Korean retroactive within 5 years.
No. Korean 70M+ gross salary or Korean 60M+ comprehensive income is excluded. Korean cash receipts may still yield an income deduction.
Yes, if the Korean Housing Lease Protection Act applies (Korean residence, Korean registration possible).
No. Korean residence registration is required. Korean late registration only counts from that date.
Korean credit is a legal right — Korean landlord consent is not required. Korean filing exposes Korean landlord income, so Korean pre-discussion is suggested.
Korean jeonse is not eligible for this Korean credit. Use Korean 'Jeonse Loan Principal-Interest Deduction' (up to 4M KRW, 40% Korean rate) instead.
Korean one household → one filer. Korean double-claim is not allowed.
South Korea's 2026 Monthly Rent Tax Credit, under Korean Income Tax Act §59-4, is a direct Korean tax credit for Korean non-homeowner wage earners. Korean 2024 revisions raised the Korean rate to 17% for Korean salary ≤ 55M KRW and 15% for 55M–70M KRW, and the Korean annual rent cap from 7.5M to 10M KRW, yielding a maximum Korean refund of 1,700,000 KRW. Korean requirements: no-home Korean household, Korean gross salary ≤ 70M (comprehensive income ≤ 60M), Korean standard-size residence (≤ 85㎡ or ≤ 400M KRW standard value), Korean self-named lease with residence registration, and Korean rent payment proof. Korean officetels, goshiwons, and multi-family homes qualify if the Korean Housing Lease Protection Act applies. Korean jeonse is excluded (use Korean jeonse-loan deduction). Korean wage earners file at Korean year-end with their employer; Korean self-employed file on Korean Hometax in May. Korean retroactive filings are allowed within 5 years. Korean contacts: NTS 126, Hometax 1566-3636.