Earned Income Tax Credit 35% First-Half Guide
This content applies specifically to South Korea. September 15, 2026 is the application deadline if your household earned only employment income during the first half of 2026. If you qualify after review, 35% of the estimated annual Earned Income Tax Credit may be paid in December 2026. The semiannual system can be confusing because an application notice does not guarantee payment, and the December amount is an advance that will be reconciled the following year. Income, assets, and household limits The total income ceiling is 22 million won for a single-person household, 32 million won for a single-income household, and 44 million won for a dual-income household. Income exactly equal to the applicable ceiling is included. Household classification also depends on a spouse, dependent children, qualifying direct ascendants aged 70 or older, and detailed legal conditions. Combined household assets must be 240 million won or less as of the valuation date specified by the Nation...