Taxes on income, profits and capital gains (% of total taxes) in Korea
Korea: Taxes on income, profits and capital gains (% of total taxes) was 54.8% in 2024. ▲ Rising
Taxes on income, profits and capital gains in 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 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 Korea peaked at 59.5% in 2022 and was at its lowest, 24.7%, in 1975.
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 (% of total taxes) in 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% |
Korea compared with similar countries
- Korea's 54.8% is above the median for high income countries, which is 43.9%, 1.2× the median. (55 countries reporting)
- 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 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 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 Korea?
- Taxes on income, profits and capital gains in 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 Korea?
- The highest recorded value was 59.5% in 2022.
- What is the lowest taxes on income, profits and capital gains recorded in Korea?
- The lowest recorded value was 24.7% in 1975.
- How does Korea rank for taxes on income, profits and capital gains?
- Korea ranks 24th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Korea?
- Over the last ten years it is up 14.3%. The long-run trend across the full record is rising.
- Where does this 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.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.