Subsidies and other transfers in South Korea
South Korea: Subsidies and other transfers was 68.5% in 2023. ▲ Rising
Subsidies and other transfers in South Korea, 1987–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
The most recent figure for subsidies and other transfers in South Korea is 68.5%, measured in 2023.
Compared with earlier readings it is down 4.9% on the previous year and up 9.6% over ten years.
Over the whole period, subsidies and other transfers in South Korea peaked at 72.0% in 2022 and was at its lowest, 2.5%, in 1987.
That places South Korea 17th out of 152 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 37 years of available data.
Subsidies and other transfers in South Korea, year by year
| Year | % of expense | Change |
|---|---|---|
| 1987 | 2.5% | — |
| 1988 | 4.2% | +69.5% |
| 1989 | 5.6% | +35.4% |
| 1990 | 56.2% | +896.2% |
| 1991 | 57.0% | +1.4% |
| 1992 | 57.4% | +0.6% |
| 1993 | 59.1% | +3.1% |
| 1994 | 60.7% | +2.6% |
| 1995 | 62.9% | +3.5% |
| 1996 | 63.2% | +0.6% |
| 1997 | 63.9% | +1.0% |
| 1998 | 53.2% | -16.7% |
| 1999 | 54.9% | +3.3% |
| 2000 | 53.4% | -2.8% |
| 2001 | 55.8% | +4.5% |
| 2002 | 55.3% | -0.9% |
| 2003 | 54.4% | -1.7% |
| 2004 | 50.2% | -7.7% |
| 2005 | 51.8% | +3.2% |
| 2006 | 52.7% | +1.8% |
| 2007 | 61.5% | +16.7% |
| 2008 | 60.2% | -2.1% |
| 2009 | 56.9% | -5.4% |
| 2010 | 58.1% | +2.0% |
| 2011 | 58.6% | +0.9% |
| 2012 | 59.1% | +0.8% |
| 2013 | 62.5% | +5.8% |
| 2014 | 62.3% | -0.3% |
| 2015 | 61.8% | -0.8% |
| 2016 | 62.2% | +0.6% |
| 2017 | 63.3% | +1.8% |
| 2018 | 66.6% | +5.2% |
| 2019 | 69.1% | +3.7% |
| 2020 | 70.0% | +1.3% |
| 2021 | 70.1% | +0.1% |
| 2022 | 72.0% | +2.8% |
| 2023 | 68.5% | -4.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 4.1% | 2.5% | 5.6% | 3 |
| 1990s | 58.9% | 53.2% | 63.9% | 10 |
| 2000s | 55.2% | 50.2% | 61.5% | 10 |
| 2010s | 62.4% | 58.1% | 69.1% | 10 |
| 2020s | 70.2% | 68.5% | 72.0% | 4 |
Countries ranked near South Korea
More public sector data for South Korea
- Arms imports 1.01 billion SIPRI trend indicator values (2024)
- 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)
- Arms imports (SIPRI trend indicator values), gaps filled 1.01 billion SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 919.23 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0254 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -0.4824 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 47.57 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 2,234 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is subsidies and other transfers in South Korea?
- Subsidies and other transfers in South Korea was 68.5% in 2023, 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 72.0% in 2022.
- What is the lowest subsidies and other transfers recorded in South Korea?
- The lowest recorded value was 2.5% in 1987.
- How does South Korea rank for subsidies and other transfers?
- South Korea ranks 17th out of 152 countries with data for 2023.
- Is subsidies and other transfers rising or falling in South Korea?
- Over the last ten years it is up 9.6%. The long-run trend across the full record is rising.
- 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 (% of expense). Statizoid updates them automatically from the source API.
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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 as percentage of total expenses which is any decrease in net worth resulting from a transaction.