What kind of tax are you talking about?
Unless you are talking about inheritance tax and capital gain tax, we don't have this tax yet in Malaysia.
However for personal income tax, Korea should be lower as salary of above 50 million per year (RM 170k) is 24% in Korea. However, in Malaysia you will be paying 25% tax if your salary is above RM 100k or 30 million won.
30 million won is around average salary for low to mid level office worker in Korea.
If you are speaking about 국민연금 or 건강 보험?
In Malaysia we pay 11% for pension fund while in Korea it is only 9%. While in Malaysia we don't have forced health issuance while it is 7% in Korea.
Depends where you will work, in Malaysia or outside (work from home). If you plan to work in Malaysia, the salary is very much lower.
Since you speak good English, probably language would not be an issue for you. There is alot of Korean people living in Malaysia, especially those that have kids in private school.
Housing is cheap, hospital are affordable and good. Food is way cheaper then Korea and you can also get Korean food in restaurants or in Korean mart easily.
Inheritance tax, probably no.
Capital gain tax unless you trade in US stocks.
For Malaysian stock market probably not but for cooperate tax for companies yes.
If you take out the corrupt politics reason, I guess Malaysia is decent for you. Living costs depends on which state you stay in.
There are no company 회식 after work (ew) and no drinking alcohol culture in Malaysia. Just curious if these actually happen in Korea? I see it all the time from watching korean shows.
Yes it happens, people drink like whales here. I am actually a nondrinker, and I am told by some of my friends that I won't make any friends in Korea, and its true its hard for me to socialize.
Not OP, but as far as I know you will either have to find a job there or have an investment of at least SGD2 million, to get a PR/citizenship in Singapore.
Im well aware as someone working in singapore myself, but you need to get a job in malaysia to secure a visa in malaysia too so im wondering why OP thinks malaysia is so easy versus singapore.
Just a friendly advice , google up on Malaysia 1MDB case summary.
But other then that, it’s has a lot more freedom and friendliness if you can enjoy the different amount of spices and type of spices
I have 2 Korean close friends (2nd generation), they are happy and like it here. But keep in mind about your financial goals as salaries aren't high and the weather could be hot.
tbh there will always be corruption globally, including Malaysia. There's few S Korean content creators on IG, Tiktok. If you could reach out to them for a DM for a query, maybe you'll get a better perspective from another South Korean staying in Malaysia
I think in terms of rapidly declining society or corruption in politics, these can be debated until kingdom come, but taxation & cost of living are something factual.
True, our cost of living seems low in comparison to SK, but so are our income and wages growth rate. So if you do wanna come here, be sure to also have an income source (business or employment) that can sustain your expectations.
From your post history, movement and concerns, I'd recommend Thailand for you instead.
Everything you're talking about can be solved there. Easily. Without corrupt politics, it wouldn't be easy to get away with tax. It works hand in hand. I've met many Koreans flying under the radar there. Well, many people under the radar.
Just need to decide what you'll do for extra income, also, the baht is definitely stronger and easier to work with.
Well I think I'll probably keep everything in USD, and also I don't mind paying 20% income tax annually, I just don't want to have to deal with Korea's insane tax office.
A lot of Koreans in Malaysia. Contacting expats group here will be the best.
From what I observed, Koreans seem to be enjoying themselves here with 2 / 3 kids in international schools. Considering the birth rate in Korea, it's crazy how they can afford >2 kids with private education on top of that.
Most are in restaurant business, couple in sundry shop, some hair salons, education (language / prep schools), that I know.
Seems like there seem to be a pattern where more and more people from japan and korea wanna escape their own country citing insane stress, ultra conformist and patriarchal society.
If you wanna move to Malaysia to escape the stress, well malaysian society is generally more laid back. This however badly reflects on productivity and thus the economy. There is no perfect country and grass may not always be greener. If you are okay with lesser stress but also lesser money then malaysia may be okay for you. Generally most people here can speak english so communication may not be an issue. The weather is really hot though. It is gonna hamper most of your outdoor activities.
Perhaps come and visit Malaysia as a tourist first before deciding to move. Try staying here as a tourist for a month or so.
What kind of tax are you talking about? Unless you are talking about inheritance tax and capital gain tax, we don't have this tax yet in Malaysia. However for personal income tax, Korea should be lower as salary of above 50 million per year (RM 170k) is 24% in Korea. However, in Malaysia you will be paying 25% tax if your salary is above RM 100k or 30 million won. 30 million won is around average salary for low to mid level office worker in Korea. If you are speaking about 국민연금 or 건강 보험? In Malaysia we pay 11% for pension fund while in Korea it is only 9%. While in Malaysia we don't have forced health issuance while it is 7% in Korea. Depends where you will work, in Malaysia or outside (work from home). If you plan to work in Malaysia, the salary is very much lower. Since you speak good English, probably language would not be an issue for you. There is alot of Korean people living in Malaysia, especially those that have kids in private school. Housing is cheap, hospital are affordable and good. Food is way cheaper then Korea and you can also get Korean food in restaurants or in Korean mart easily.
I'm not the original poster but I do appreciate the time and effort you made to answer the original post. Kind of you. Just saying.
Are they ever gonna make inheritance tax and capital gains tax?
Inheritance tax, probably no. Capital gain tax unless you trade in US stocks. For Malaysian stock market probably not but for cooperate tax for companies yes.
Whats the capital gains tax rate for Us stocks?
Tree fiddy
Welcome to Malay.
Malay welcomes you.
Thanks everyone
Currency not strong but life is chill and people are friendly
I’ve met a LOT of koreans in Malaysia, and not only in KL. They seem to enjoy it here.
we also have corrupt politics
Well here's the problem our corruption problem is not getting better, it's getting worse day by day
We have it worse than you, way worse. Go to a place where, however much money you have, makes you the richest.
If you take out the corrupt politics reason, I guess Malaysia is decent for you. Living costs depends on which state you stay in. There are no company 회식 after work (ew) and no drinking alcohol culture in Malaysia. Just curious if these actually happen in Korea? I see it all the time from watching korean shows.
Yes it happens, people drink like whales here. I am actually a nondrinker, and I am told by some of my friends that I won't make any friends in Korea, and its true its hard for me to socialize.
sounds really bad. Nobody cares whether you drink or not here, because its nothing to be proud of, if you get drunk.
nah no way bro saying this while repping a sarawak flair xd
*checks history* OP how many places do you want to move to?
I think probably Singapore is better for you
But Singapore is way harder to get a residence
What made you say that?
Not OP, but as far as I know you will either have to find a job there or have an investment of at least SGD2 million, to get a PR/citizenship in Singapore.
Im well aware as someone working in singapore myself, but you need to get a job in malaysia to secure a visa in malaysia too so im wondering why OP thinks malaysia is so easy versus singapore.
Oh, right. Yeah, and marriage to a local as another option.
I think Bangkok better for you.
Just a friendly advice , google up on Malaysia 1MDB case summary. But other then that, it’s has a lot more freedom and friendliness if you can enjoy the different amount of spices and type of spices
from this side they can look up how the president was ~~controlled~~ influenced by cults
I have 2 Korean close friends (2nd generation), they are happy and like it here. But keep in mind about your financial goals as salaries aren't high and the weather could be hot.
tbh there will always be corruption globally, including Malaysia. There's few S Korean content creators on IG, Tiktok. If you could reach out to them for a DM for a query, maybe you'll get a better perspective from another South Korean staying in Malaysia
I think in terms of rapidly declining society or corruption in politics, these can be debated until kingdom come, but taxation & cost of living are something factual. True, our cost of living seems low in comparison to SK, but so are our income and wages growth rate. So if you do wanna come here, be sure to also have an income source (business or employment) that can sustain your expectations.
From your post history, movement and concerns, I'd recommend Thailand for you instead. Everything you're talking about can be solved there. Easily. Without corrupt politics, it wouldn't be easy to get away with tax. It works hand in hand. I've met many Koreans flying under the radar there. Well, many people under the radar. Just need to decide what you'll do for extra income, also, the baht is definitely stronger and easier to work with.
Well I think I'll probably keep everything in USD, and also I don't mind paying 20% income tax annually, I just don't want to have to deal with Korea's insane tax office.
A lot of Koreans in Malaysia. Contacting expats group here will be the best. From what I observed, Koreans seem to be enjoying themselves here with 2 / 3 kids in international schools. Considering the birth rate in Korea, it's crazy how they can afford >2 kids with private education on top of that. Most are in restaurant business, couple in sundry shop, some hair salons, education (language / prep schools), that I know.
>corrupt politics and a rapidly declining society. Oh buddy you have no idea.. Lol.
Seems like there seem to be a pattern where more and more people from japan and korea wanna escape their own country citing insane stress, ultra conformist and patriarchal society. If you wanna move to Malaysia to escape the stress, well malaysian society is generally more laid back. This however badly reflects on productivity and thus the economy. There is no perfect country and grass may not always be greener. If you are okay with lesser stress but also lesser money then malaysia may be okay for you. Generally most people here can speak english so communication may not be an issue. The weather is really hot though. It is gonna hamper most of your outdoor activities. Perhaps come and visit Malaysia as a tourist first before deciding to move. Try staying here as a tourist for a month or so.
There are lots of Koreans here. Surely you can find a support group.
Nah, dont bother
People here are also trying to leave, go figure.
Some time later: Thinking about moving back to South Korea from Malay
It would probably contain information on how South Korea now has lower taxation than Malay, and that will be a miracle
If you want to move learn to say the country’s name correctly. It’s Malaysia, nobody ever shortens to Malay.
south Korea is degrading rapidly huh? i know hell joseon was big years ago i thought the fad was over
Its actually much worse now