Subsidies and other transfers (% of expense) in South Korea
South Korea: Subsidies and other transfers (% of expense) 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 (% of expense) 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% |
South Korea compared with similar countries
- South Korea's 68.5% is above the median for high income countries, which is 48.0%, 1.4× the median. (56 countries reporting)
- South Korea's 68.5% is above the median for East Asia & Pacific, which is 29.4%, 2.3× the median. (25 countries reporting)
Biggest year-on-year movements
Years where Subsidies and other transfers (% of expense) 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 | +896.2% | 5.6% | 56.2% |
| 1988 | +69.5% | 2.5% | 4.2% |
| 1989 | +35.4% | 4.2% | 5.6% |
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
- 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 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.