A foreign employee who leaves Korea before their contract ends has their year-end settlement performed early by the employer, based on income up to that point, when the final month's wages are paid — the same logic as a mid-year resignation settlement. No separate May filing is needed unless additional income arrives after departure.
Someone who worked for two employers in the same year (including job changers) has their new employer combine the withholding receipt from the previous employer into the settlement. If that receipt isn't submitted, the two employers' income won't be combined, and a supplementary May filing may be needed to reconcile it.
Before you depart early
When changing jobs, don't forget your previous withholding receipt
You must submit the withholding receipt from your previous employer to your new employer's payroll team so both incomes are combined for an accurate calculation. If you missed doing so, you can still combine and file everything yourself during the May comprehensive income tax return.
Frequently Asked Questions
Related Topics
How Year-end Settlement Works: The Wage Income Tax Calculation Flow
A step-by-step walk-through of how Korea calculates your final year-end tax, from gross pay down to the amount actually owed or refunded.
Who Must File a Global Income Tax Return, How, and By When
Whether you need to file, how to do it on Hometax, and the May filing deadline (with its exceptions).