Geostarna

Government Finance of South Korea

Loading...

Categories

Overview Economy Population Trade Government Finance Society Environment

Tax Revenue Composition

20.1% 11.1% 30.2% 11.7% 24.1%
  • Personal income taxes: 20.1%
  • Corporate income taxes: 11.1%
  • Social security contributions: 30.2%
  • Payroll taxes: 0.3%
  • Property taxes: 11.7%
  • Goods and services taxes: 24.1%
  • Other taxes: 2.3%
Show table
Personal income taxes
20.1%
Corporate income taxes
11.1%
Social security contributions
30.2%
Payroll taxes
0.3%
Property taxes
11.7%
Goods and services taxes
24.1%
Other taxes
2.3%

Source: OECD Global Revenue Statistics Database, 2024.

Government Debt

Government Gross Debt (% of GDP) 54.4% #88 / 184 2026
Government Gross Debt (Local currency - KRW) 1.52Q - 2026
Government Net Debt (% of GDP) 10.3% #80 / 86 2026
Government Net Debt (Local currency - KRW) 286.18T - 2026

Fiscal Balance

Fiscal Balance (% of GDP) -1.5% #54 / 189 2026
Fiscal Balance (Local currency - KRW) -40.72T - 2026
Primary Fiscal Balance (% of GDP) -1.4% #106 / 182 2026
Primary Fiscal Balance (Local currency - KRW) -40.01T - 2026

Revenue and Spending

Government Revenue (% of GDP) 23.8% #113 / 189 2026
Government Revenue (Local currency - KRW) 662.78T - 2026
Government Spending (% of GDP) 25.2% #121 / 189 2026
Government Spending (Local currency - KRW) 703.5T - 2026

International Reserves

Total Reserves (USD) 418B #8 / 163 2024

© 2026 Geostarna