Taxes on income, profits and capital gains (% of revenue) in South Korea
South Korea: Taxes on income, profits and capital gains (% of revenue) was 27.5% in 2024. ▲ Rising
Taxes on income, profits and capital gains in South Korea, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on income, profits and capital gains in South Korea stood at 27.5%.
The figure is down 8.1% on the previous year and up 10.6% over ten years.
Over the whole period, taxes on income, profits and capital gains in South Korea peaked at 34.8% in 1989 and was at its lowest, 22.2%, in 1975.
South Korea ranks 59th of 153 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on income, profits and capital gains (% of revenue) in South Korea, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1972 | 27.6% | — |
| 1973 | 25.8% | -6.5% |
| 1974 | 26.9% | +4.4% |
| 1975 | 22.2% | -17.6% |
| 1976 | 26.0% | +17.4% |
| 1977 | 25.1% | -3.7% |
| 1978 | 25.5% | +1.9% |
| 1979 | 25.7% | +0.6% |
| 1980 | 22.3% | -13.1% |
| 1981 | 22.9% | +2.8% |
| 1982 | 23.9% | +4.0% |
| 1983 | 22.8% | -4.3% |
| 1984 | 22.9% | +0.3% |
| 1985 | 25.3% | +10.3% |
| 1986 | 25.2% | -0.2% |
| 1987 | 28.6% | +13.3% |
| 1988 | 30.3% | +6.1% |
| 1989 | 34.8% | +14.6% |
| 1990 | 34.0% | -2.3% |
| 1991 | 31.3% | -8.0% |
| 1992 | 32.8% | +5.0% |
| 1993 | 31.4% | -4.3% |
| 1994 | 31.2% | -0.5% |
| 1995 | 31.5% | +0.8% |
| 1996 | 29.1% | -7.6% |
| 1997 | 26.8% | -8.0% |
| 1998 | 29.3% | +9.6% |
| 1999 | 23.8% | -18.9% |
| 2000 | 26.3% | +10.5% |
| 2001 | 25.1% | -4.4% |
| 2002 | 24.7% | -1.7% |
| 2003 | 27.6% | +11.7% |
| 2004 | 27.5% | -0.5% |
| 2005 | 28.9% | +5.2% |
| 2006 | 29.3% | +1.4% |
| 2007 | 31.5% | +7.4% |
| 2008 | 30.6% | -2.7% |
| 2009 | 28.4% | -7.3% |
| 2010 | 28.1% | -0.9% |
| 2011 | 30.3% | +7.9% |
| 2012 | 24.5% | -19.2% |
| 2013 | 24.0% | -1.8% |
| 2014 | 24.9% | +3.6% |
| 2015 | 26.2% | +5.2% |
| 2016 | 27.2% | +3.8% |
| 2017 | 28.3% | +4.2% |
| 2018 | 30.4% | +7.3% |
| 2019 | 29.4% | -3.4% |
| 2020 | 28.1% | -4.5% |
| 2021 | 30.4% | +8.4% |
| 2022 | 33.9% | +11.4% |
| 2023 | 30.0% | -11.5% |
| 2024 | 27.5% | -8.1% |
South Korea compared with similar countries
- South Korea's 27.5% is above the median for high income countries, which is 24.5%, 1.1× the median. (55 countries reporting)
- South Korea's 27.5% is above the median for East Asia & Pacific, which is 22.7%, 1.2× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 25.6% | 22.2% | 27.6% | 8 |
| 1980s | 25.9% | 22.3% | 34.8% | 10 |
| 1990s | 30.1% | 23.8% | 34.0% | 10 |
| 2000s | 28.0% | 24.7% | 31.5% | 10 |
| 2010s | 27.3% | 24.0% | 30.4% | 10 |
| 2020s | 30.0% | 27.5% | 33.9% | 5 |
Countries ranked near South Korea
- 56 El Salvador 28.4% compare
- 57 Austria 28.2% compare
- 58 Fiji 27.8% compare
- 60 Kazakhstan 27.1% compare
- 61 Finland 26.8% compare
- 62 Cote d'Ivoire 26.8% compare
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 taxes on income, profits and capital gains in South Korea?
- Taxes on income, profits and capital gains in South Korea was 27.5% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in South Korea?
- The highest recorded value was 34.8% in 1989.
- What is the lowest taxes on income, profits and capital gains recorded in South Korea?
- The lowest recorded value was 22.2% in 1975.
- How does South Korea rank for taxes on income, profits and capital gains?
- South Korea ranks 59th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in South Korea?
- Over the last ten years it is up 10.6%. 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 Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.