Taxes on income, profits and capital gains in South Korea
South Korea: Taxes on income, profits and capital gains was 54.8% 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 total taxes.
Analysis
In 2024, taxes on income, profits and capital gains in South Korea stood at 54.8%.
The figure is down 4.2% on the previous year and up 14.3% over ten years.
Over the whole period, taxes on income, profits and capital gains in South Korea peaked at 59.5% in 2022 and was at its lowest, 24.7%, in 1975.
South Korea ranks 24th of 153 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 53 years of available data.
Taxes on income, profits and capital gains in South Korea, year by year
| Year | % of total taxes | Change |
|---|---|---|
| 1972 | 33.4% | — |
| 1973 | 30.1% | -10.0% |
| 1974 | 30.2% | +0.4% |
| 1975 | 24.7% | -18.1% |
| 1976 | 28.8% | +16.5% |
| 1977 | 28.0% | -2.7% |
| 1978 | 28.5% | +1.8% |
| 1979 | 28.9% | +1.5% |
| 1980 | 25.8% | -10.7% |
| 1981 | 26.9% | +4.2% |
| 1982 | 28.0% | +4.1% |
| 1983 | 25.9% | -7.5% |
| 1984 | 26.3% | +1.4% |
| 1985 | 29.2% | +11.2% |
| 1986 | 29.1% | -0.3% |
| 1987 | 32.3% | +11.1% |
| 1988 | 35.1% | +8.4% |
| 1989 | 41.7% | +18.8% |
| 1990 | 39.5% | -5.1% |
| 1991 | 37.0% | -6.5% |
| 1992 | 39.8% | +7.7% |
| 1993 | 39.7% | -0.3% |
| 1994 | 39.5% | -0.6% |
| 1995 | 39.3% | -0.4% |
| 1996 | 37.2% | -5.4% |
| 1997 | 34.7% | -6.5% |
| 1998 | 41.3% | +18.8% |
| 1999 | 33.3% | -19.2% |
| 2000 | 38.1% | +14.2% |
| 2001 | 37.2% | -2.3% |
| 2002 | 36.9% | -0.7% |
| 2003 | 40.5% | +9.6% |
| 2004 | 40.8% | +0.9% |
| 2005 | 42.7% | +4.6% |
| 2006 | 43.7% | +2.4% |
| 2007 | 46.0% | +5.2% |
| 2008 | 45.1% | -1.9% |
| 2009 | 42.3% | -6.2% |
| 2010 | 42.0% | -0.7% |
| 2011 | 45.3% | +7.7% |
| 2012 | 46.5% | +2.7% |
| 2013 | 46.1% | -0.9% |
| 2014 | 47.9% | +3.9% |
| 2015 | 49.9% | +4.2% |
| 2016 | 50.7% | +1.5% |
| 2017 | 51.6% | +1.9% |
| 2018 | 54.4% | +5.3% |
| 2019 | 54.5% | +0.3% |
| 2020 | 53.4% | -2.1% |
| 2021 | 55.0% | +3.1% |
| 2022 | 59.5% | +8.2% |
| 2023 | 57.1% | -4.0% |
| 2024 | 54.8% | -4.2% |
South Korea compared with similar countries
- South Korea's 54.8% is above the median for high income countries, which is 43.9%, 1.2× the median. (55 countries reporting)
- South Korea's 54.8% is above the median for East Asia & Pacific, which is 39.9%, 1.4× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 29.1% | 24.7% | 33.4% | 8 |
| 1980s | 30.0% | 25.8% | 41.7% | 10 |
| 1990s | 38.1% | 33.3% | 41.3% | 10 |
| 2000s | 41.3% | 36.9% | 46.0% | 10 |
| 2010s | 48.9% | 42.0% | 54.5% | 10 |
| 2020s | 56.0% | 53.4% | 59.5% | 5 |
Countries ranked near South Korea
- 21 Netherlands 55.8% compare
- 22 Italy 55.4% compare
- 23 Luxembourg 55.4% compare
- 25 Mexico 54.2% compare
- 26 France 53.8% compare
- 27 United Kingdom 52.6% compare
More public sector data for South Korea
- Democracy, 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)
- Elected parliament, 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)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
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 54.8% 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 59.5% in 2022.
- What is the lowest taxes on income, profits and capital gains recorded in South Korea?
- The lowest recorded value was 24.7% in 1975.
- How does South Korea rank for taxes on income, profits and capital gains?
- South Korea ranks 24th 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 14.3%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.