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You don't need a transit visa for Korea if you remain in the international transit area.
You don't need a transit visa to participate in the Transit Tour program, so you may be able to leave the airport on a guided tour. Visit the green Transit Tour desk when you arrive at ICN for more details or to book a tour.
Timatic, the database which airlines use to verify passenger travel documents, states in relevant parts:
TWOV (Transit Without Visa):
Visa required, except for Passengers transiting through Seoul (ICN) with a confirmed onward ticket for a flight to a third country within 24 hours. They must stay in the international transit area of the airport and have documents required for the next destination.Visa required, except for Passengers transiting through Seoul (ICN) with a confirmed onward ticket for a flight to a third country within 72 hours. They must:
- join a transit tour organized by Seoul (ICN), and
- have documents required for the next destination.