Korea Late Interest Calculator

Calculate Korean statutory late interest using civil, commercial, litigation, wage, or custom annual rates with simple or compound methods.

Debt and interest basis

Principal

KRW

Rate typeMethod

Start dateEnd date

Exclude first dayCommon Korean late-interest counting rule.

Total interest

₩245,205

179 days

Total payable

₩10,245,205

Applied rate

Annual rate

Daily interest

₩1,370

Period breakdown

Years / months / days: 0y 5m 29d
Monthly interest estimate: ₩41,667
Interest-cap flag: No cap flag
Segments calculated: 1

Related calculators

What Is the Korea Late Interest Calculator?

This calculator estimates late interest on Korean obligations using the same Korean pure-function model as the Korean page. It supports civil statutory interest, commercial statutory interest, litigation delay interest, unpaid-wage delay interest, and a custom annual rate.

The calculator shows principal, total interest, total payable amount, total days, applied annual rate, daily interest, monthly interest estimate, and period breakdown.

Important Note

Late-interest start dates can be contested. Due date, tort date, complaint-service date, wage-payment date plus 14 days, and contract clauses may point to different accrual dates.

Rates Preserved in the Korean Model

Rate type	Annual rate	Typical legal basis
Civil statutory interest	5%	Civil Act statutory interest
Commercial statutory interest	6%	Commercial Act statutory interest
Litigation delay interest	12%	Special Act on Expedition of Legal Proceedings after service
Unpaid wage delay interest	20%	Labor Standards Act delay interest after statutory grace period
Custom rate	User-entered	Contract or case-specific rate

Counting Days and Methods

The model can exclude the first day, which is commonly used in Korean late-interest day counting.
Simple interest calculates principal multiplied by annual rate and day fraction.
Compound interest is available with monthly, quarterly, semi-annual, or yearly compounding.
The model can also support segmented rates, although the English UI focuses on the primary single-rate path for clarity.

Interest Limitation Risk

Private contract interest can be limited by the Interest Limitation Act. The calculator flags rates that may exceed statutory caps, but a specific cap analysis depends on the contract, debtor type, and applicable statute.

How to Use the Calculator

Enter the principal in KRW.
Select the legal or custom annual rate.
Enter the start and end dates.
Choose simple or compound calculation and review daily, monthly, and total interest.

FAQ

Does litigation delay interest always start on the lawsuit filing date?

No. In many cases the higher litigation delay rate begins after the complaint or equivalent claim document is served.

Can unpaid wage interest reach 20%?

The Korean model includes a 20% unpaid-wage delay interest option, but exclusions and timing must be checked for each employment case.

Legal Use Notice

This page translates the Korean calculator content and uses the same Korean pure calculation logic where a calculator is shown. It is an estimation tool, not legal advice for a specific case.