Subsidies and other transfers (current LCU) in South Korea
South Korea: Subsidies and other transfers (current LCU) was 484.57 trillion current LCU in 2024. ◆ Volatile
Subsidies and other transfers in South Korea, 1987–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, subsidies and other transfers in South Korea stood at 484.57 trillion current LCU.
That represents a change of up 3.7% on the previous year and up 110.6% over ten years.
Over the whole period, subsidies and other transfers in South Korea peaked at 523.94 trillion current LCU in 2022 and was at its lowest, 379.00 billion current LCU, in 1987.
That places South Korea 2nd out of 153 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Subsidies and other transfers (current LCU) in South Korea, year by year
| Year | current LCU | Change |
|---|---|---|
| 1987 | 379.00 billion current LCU | — |
| 1988 | 744.00 billion current LCU | +96.3% |
| 1989 | 1.23 trillion current LCU | +64.9% |
| 1990 | 14.96 trillion current LCU | +1118.9% |
| 1991 | 18.22 trillion current LCU | +21.8% |
| 1992 | 21.37 trillion current LCU | +17.3% |
| 1993 | 24.46 trillion current LCU | +14.5% |
| 1994 | 29.82 trillion current LCU | +21.9% |
| 1995 | 35.85 trillion current LCU | +20.2% |
| 1996 | 41.13 trillion current LCU | +14.7% |
| 1997 | 45.20 trillion current LCU | +9.9% |
| 1998 | 43.65 trillion current LCU | -3.4% |
| 1999 | 48.23 trillion current LCU | +10.5% |
| 2000 | 53.58 trillion current LCU | +11.1% |
| 2001 | 64.46 trillion current LCU | +20.3% |
| 2002 | 67.00 trillion current LCU | +3.9% |
| 2003 | 78.75 trillion current LCU | +17.5% |
| 2004 | 78.25 trillion current LCU | -0.6% |
| 2005 | 88.33 trillion current LCU | +12.9% |
| 2006 | 98.28 trillion current LCU | +11.3% |
| 2007 | 120.68 trillion current LCU | +22.8% |
| 2008 | 127.21 trillion current LCU | +5.4% |
| 2009 | 132.47 trillion current LCU | +4.1% |
| 2010 | 135.40 trillion current LCU | +2.2% |
| 2011 | 147.58 trillion current LCU | +9.0% |
| 2012 | 209.50 trillion current LCU | +42.0% |
| 2013 | 225.37 trillion current LCU | +7.6% |
| 2014 | 230.07 trillion current LCU | +2.1% |
| 2015 | 240.87 trillion current LCU | +4.7% |
| 2016 | 254.56 trillion current LCU | +5.7% |
| 2017 | 278.48 trillion current LCU | +9.4% |
| 2018 | 315.03 trillion current LCU | +13.1% |
| 2019 | 365.85 trillion current LCU | +16.1% |
| 2020 | 403.76 trillion current LCU | +10.4% |
| 2021 | 444.46 trillion current LCU | +10.1% |
| 2022 | 523.94 trillion current LCU | +17.9% |
| 2023 | 467.33 trillion current LCU | -10.8% |
| 2024 | 484.57 trillion current LCU | +3.7% |
South Korea compared with similar countries
- South Korea's 484.57 trillion current LCU is above the median for high income countries, which is 61.98 billion current LCU, 7818.3× the median. (57 countries reporting)
- South Korea's 484.57 trillion current LCU is above the median for East Asia & Pacific, which is 27.56 billion current LCU, 17582.5× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Subsidies and other transfers (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 |
|---|---|---|---|
| 1990 | +1118.9% | 1.23 trillion current LCU | 14.96 trillion current LCU |
| 1988 | +96.3% | 379.00 billion current LCU | 744.00 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 783.33 billion current LCU | 379.00 billion current LCU | 1.23 trillion current LCU | 3 |
| 1990s | 32.29 trillion current LCU | 14.96 trillion current LCU | 48.23 trillion current LCU | 10 |
| 2000s | 90.90 trillion current LCU | 53.58 trillion current LCU | 132.47 trillion current LCU | 10 |
| 2010s | 240.27 trillion current LCU | 135.40 trillion current LCU | 365.85 trillion current LCU | 10 |
| 2020s | 464.81 trillion current LCU | 403.76 trillion current LCU | 523.94 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 222.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 19.5 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 362.84 % change on previous year (2024)
Frequently asked questions
- What is subsidies and other transfers in South Korea?
- Subsidies and other transfers in South Korea was 484.57 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest subsidies and other transfers recorded in South Korea?
- The highest recorded value was 523.94 trillion current LCU in 2022.
- What is the lowest subsidies and other transfers recorded in South Korea?
- The lowest recorded value was 379.00 billion current LCU in 1987.
- How does South Korea rank for subsidies and other transfers?
- South Korea ranks 2nd out of 153 countries with data for 2024.
- Is subsidies and other transfers rising or falling in South Korea?
- Over the last ten years it is up 110.6%. 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 Subsidies and other transfers (current LCU). Statizoid updates them automatically from the source API.
Download this data
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About this data
Subsidies are current unrequited payments that government units, including nonresident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services that they produce, sell, export or import. 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.