Tax & Tax Saving
After-tax comparison of Korea-listed vs US-listed ETFs
Compare the tax on distributions and trading gains, and the after-tax amount, when you buy the same S&P 500 ETF listed in Korea versus listed in the US.

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After-tax difference (overseas-listed − Korea-listed)
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Korea-listed ETF after tax
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US-listed ETF after tax
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Pre-tax value
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Same index, different tax
This is how taxes differ between Korea-listed and US-listed ETFs
Even for ETFs that track the S&P 500, the type and rate of tax on trading gains differ depending on where the product is listed.
Enter your investment conditions
Enter the principal, holding period, expected return and the distribution share of it.
Enter other income
Trading gains on a Korea-listed ETF are treated as dividend income, which affects whether comprehensive taxation of financial income applies in the year you sell.
Compare after-tax amounts
See the after-tax amounts and tax breakdown of the two approaches side by side.
How it is calculated
- Korea-listed overseas-stock ETF (taxable account): Both distributions and trading gains are treated as dividend income and withheld at 15.4% (including local tax). If financial income in the year of sale exceeds KRW 20 million, the excess is added to other comprehensive income and taxed at progressive rates (a simplified reflection of the comparative taxation rule).
- US-listed ETF: Distributions are subject to 15% withholding in the US, and trading gains are taxed separately as overseas stock capital gains at 22% (including local tax) after a KRW 2.5 million annual basic deduction. Trading gains are not added to comprehensive taxation of financial income.
- ISA and pension accounts: These can only hold Korea-listed ETFs and their tax benefit structures differ, so this calculator only gives guidance here; for a detailed comparison, use the after-tax return comparison by account.
- Distributions are assumed to be reinvested each year after tax, and exchange rate changes, trading fees and differences in the tax-base price of Korea-listed ETFs are not reflected.
FAQ
Are Korea-listed US ETFs always at a disadvantage?
Not necessarily. If the trading gain is small or other financial income is low so that you don't exceed the KRW 20 million threshold, the tax ends at 15.4%, which can be lower than 22%. If you hold them in an ISA or pension account, you can also get tax deferral and low-rate taxation benefits.
Can the KRW 2.5 million deduction on US-listed ETFs be used every year?
Yes. The KRW 2.5 million basic deduction on overseas stock capital gains applies every year. You can also sell part each year and buy back to use the deduction, but this calculator assumes a single sale in the final year.
Do trading gains on Korea-listed ETFs also go into comprehensive taxation of financial income?
Trading gains on Korea-listed overseas-stock ETFs are taxed as dividend income, so they are included in financial income. If the gain is large in the year you sell, it can exceed KRW 20 million and be subject to comprehensive taxation.
Does it also affect health insurance premiums?
If financial income exceeds KRW 10 million a year, the entire amount is counted as income for health insurance. If you are a dependent, also check with the comprehensive financial income tax and health insurance premium checker.
How is the exchange rate reflected?
Both approaches assume the same return in KRW terms. Capital gains on US-listed ETFs are taxed on the gain converted into KRW, so if the exchange rate rises, the tax also rises.
Results are estimates based on your inputs and simplified assumptions, and are for reference only, not a basis for investment decisions.
Tools that work well together

Overseas Stock Capital Gains Tax Saving Simulator
Simulate how much you could sell before year-end to cut your tax, using the KRW 2.5 million basic deduction and netting of gains and losses.

After-tax Return Comparison by Account
Compare after-tax results when making the same investment in a regular account, ISA, pension savings account or IRP.

Comprehensive Financial Income Tax & Health Insurance Checker
Check whether your interest and dividends exceed KRW 20 million and whether it affects your eligibility as a health insurance dependent.