Social contributions (current LCU) in South Korea
South Korea: Social contributions (current LCU) was 202.27 trillion current LCU in 2024. ◆ Volatile
Social contributions in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, social contributions in South Korea stood at 202.27 trillion current LCU. That is the highest value across all 53 years on record.
Compared with earlier readings it is up 3.2% on the previous year and up 97.1% over ten years.
Over the whole period, social contributions in South Korea peaked at 202.27 trillion current LCU in 2024 and was at its lowest, 4.00 billion current LCU, in 1972.
South Korea ranks 1st of 112 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Social contributions (current LCU) in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 4.00 billion current LCU | — |
| 1973 | 6.00 billion current LCU | +50.0% |
| 1974 | 8.00 billion current LCU | +33.3% |
| 1975 | 13.00 billion current LCU | +62.5% |
| 1976 | 20.00 billion current LCU | +53.8% |
| 1977 | 27.00 billion current LCU | +35.0% |
| 1978 | 41.00 billion current LCU | +51.9% |
| 1979 | 59.00 billion current LCU | +43.9% |
| 1980 | 73.00 billion current LCU | +23.7% |
| 1981 | 87.00 billion current LCU | +19.2% |
| 1982 | 110.00 billion current LCU | +26.4% |
| 1983 | 131.00 billion current LCU | +19.1% |
| 1984 | 158.00 billion current LCU | +20.6% |
| 1985 | 207.00 billion current LCU | +31.0% |
| 1986 | 248.00 billion current LCU | +19.8% |
| 1987 | 314.00 billion current LCU | +26.6% |
| 1988 | 863.00 billion current LCU | +174.8% |
| 1989 | 1.11 trillion current LCU | +29.0% |
| 1990 | 1.51 trillion current LCU | +35.7% |
| 1991 | 1.87 trillion current LCU | +23.7% |
| 1992 | 2.50 trillion current LCU | +33.6% |
| 1993 | 4.24 trillion current LCU | +69.9% |
| 1994 | 4.67 trillion current LCU | +10.2% |
| 1995 | 5.54 trillion current LCU | +18.5% |
| 1996 | 7.55 trillion current LCU | +36.4% |
| 1997 | 8.64 trillion current LCU | +14.4% |
| 1998 | 10.64 trillion current LCU | +23.2% |
| 1999 | 12.17 trillion current LCU | +14.3% |
| 2000 | 17.92 trillion current LCU | +47.3% |
| 2001 | 21.10 trillion current LCU | +17.7% |
| 2002 | 23.50 trillion current LCU | +11.4% |
| 2003 | 24.77 trillion current LCU | +5.4% |
| 2004 | 27.72 trillion current LCU | +11.9% |
| 2005 | 30.49 trillion current LCU | +10.0% |
| 2006 | 33.32 trillion current LCU | +9.3% |
| 2007 | 33.13 trillion current LCU | -0.6% |
| 2008 | 39.03 trillion current LCU | +17.8% |
| 2009 | 40.22 trillion current LCU | +3.0% |
| 2010 | 42.81 trillion current LCU | +6.4% |
| 2011 | 46.19 trillion current LCU | +7.9% |
| 2012 | 90.42 trillion current LCU | +95.7% |
| 2013 | 95.72 trillion current LCU | +5.9% |
| 2014 | 102.60 trillion current LCU | +7.2% |
| 2015 | 109.41 trillion current LCU | +6.6% |
| 2016 | 117.73 trillion current LCU | +7.6% |
| 2017 | 125.04 trillion current LCU | +6.2% |
| 2018 | 134.46 trillion current LCU | +7.5% |
| 2019 | 146.44 trillion current LCU | +8.9% |
| 2020 | 157.47 trillion current LCU | +7.5% |
| 2021 | 169.01 trillion current LCU | +7.3% |
| 2022 | 183.69 trillion current LCU | +8.7% |
| 2023 | 195.96 trillion current LCU | +6.7% |
| 2024 | 202.27 trillion current LCU | +3.2% |
South Korea compared with similar countries
- South Korea's 202.27 trillion current LCU is above the median for high income countries, which is 35.12 billion current LCU, 5760.2× the median. (49 countries reporting)
- South Korea's 202.27 trillion current LCU is above the median for East Asia & Pacific, which is 130.23 billion current LCU, 1553.2× the median. (11 countries reporting)
Biggest year-on-year movements
Years where Social contributions (current LCU) in South Korea changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1988 | +174.8% | 314.00 billion current LCU | 863.00 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 22.25 billion current LCU | 4.00 billion current LCU | 59.00 billion current LCU | 8 |
| 1980s | 330.40 billion current LCU | 73.00 billion current LCU | 1.11 trillion current LCU | 10 |
| 1990s | 5.93 trillion current LCU | 1.51 trillion current LCU | 12.17 trillion current LCU | 10 |
| 2000s | 29.12 trillion current LCU | 17.92 trillion current LCU | 40.22 trillion current LCU | 10 |
| 2010s | 101.08 trillion current LCU | 42.81 trillion current LCU | 146.44 trillion current LCU | 10 |
| 2020s | 181.68 trillion current LCU | 157.47 trillion current LCU | 202.27 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
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Frequently asked questions
- What is social contributions in South Korea?
- Social contributions in South Korea was 202.27 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest social contributions recorded in South Korea?
- The highest recorded value was 202.27 trillion current LCU in 2024.
- What is the lowest social contributions recorded in South Korea?
- The lowest recorded value was 4.00 billion current LCU in 1972.
- How does South Korea rank for social contributions?
- South Korea ranks 1st out of 112 countries with data for 2024.
- Is social contributions rising or falling in South Korea?
- Over the last ten years it is up 97.1%. The long-run trend across the full record is volatile.
- Where does this South Korea data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Social contributions (current LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
Social contributions are actual or imputed contributions payable to social insurance schemes to make provisions for social benefits to be paid. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.