South Korea: tax on lottery prizes
South Korea taxes lottery prizes above ₩2,000,000: 22% of the prize up to ₩300,000,000 and 33% of the part above, withheld when it is paid. On a ₩2,000,000,000 Lotto 6/45 first prize, the tax is ₩627,000,000 and the winner receives ₩1,373,000,000.
How the tax works
Prizes of KRW 2,000,000 or less are tax-free. Above that, 22% (20% income tax and 2% local income tax) is withheld on the prize up to KRW 300,000,000, and 33% (30% and 3%) on the part above.
Games covered: Lotto 6/45, Pension Lottery 720+, Speetto.
Questions
How much tax is taken from a lottery prize in South Korea?
Nothing up to ₩2,000,000. Above that, 22% of the prize up to ₩300,000,000 and 33% of the rest, including the local income tax.
Is the tax withheld or paid later?
It is withheld when the prize is paid, so the winner receives the amount after tax.
Rules checked on 29.09.2026; compare other countries or see the United States calculator. Estimates, not tax advice.
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