Facts
- Combined corporate income tax rate
- 26.5 % (2023)
- Top statutory personal income tax rate
- 49.5 % (2022)
- Tax revenue, % of GDP
- 13.3 % (2024)
- Top marginal rate incl. employee social security
- 51.9 % (2022)
- OECD member
- Yes
- Corporate income tax rate, central government
- 24.0 % (2023)
- Corporate income tax rate, sub-central
- 2.5 % (2023)
- Central CIT rate net of sub-central deduction
- 24.0 % (2023)
- Top marginal income tax rate (PIT only)
- 47.1 % (2022)
- Top rate threshold, × average wage
- 21.61× (2022)
- Average annual wage, US$ PPP
- $58,632 (2022)
- Average annual wage, national currency
- 49,775,096 (2022)
- Tax revenue level
- 10–15% of GDP
- Taxes on income, profits and capital gains, % of revenue
- 54.8 % (2024)
- Taxes on goods and services, % of value added
- 4.9 % (2024)
- ISO code
- KOR
Sources: OECD Corporate Tax Statistics, OECD Tax Database, World Bank WDI (CC BY 4.0)
Tax revenue, % of GDP
| Period | Value |
|---|---|
| 2024 | 13.3 % |
| 2023 | 14.6 % |
| 2022 | 17.2 % |
| 2021 | 15.7 % |
| 2020 | 14.0 % |
| 2019 | 14.3 % |
| 2018 | 14.7 % |
| 2017 | 13.8 % |
| 2016 | 13.3 % |
| 2015 | 12.5 % |
| 2014 | 12.6 % |
| 2013 | 13.0 % |
Taxes on income, profits and capital gains, % of revenue
| Period | Value |
|---|---|
| 2024 | 54.8 % |
| 2023 | 57.1 % |
| 2022 | 59.5 % |
| 2021 | 55.0 % |
| 2020 | 53.4 % |
| 2019 | 54.5 % |
| 2018 | 54.4 % |
| 2017 | 51.6 % |
| 2016 | 50.7 % |
| 2015 | 49.9 % |
| 2014 | 47.9 % |
| 2013 | 46.1 % |
Taxes on goods and services, % of value added
| Period | Value |
|---|---|
| 2024 | 4.9 % |
| 2023 | 4.9 % |
| 2022 | 5.6 % |
| 2021 | 5.9 % |
| 2020 | 5.8 % |
| 2019 | 5.8 % |
| 2018 | 6.1 % |
| 2017 | 6.0 % |
| 2016 | 6.0 % |
| 2015 | 5.6 % |
| 2014 | 5.9 % |
| 2013 | 6.0 % |
Corporate income tax rate, central government
| Period | Value |
|---|---|
| 2023 | 24.0 % |
| 2022 | 25.0 % |
| 2021 | 25.0 % |
| 2020 | 25.0 % |
| 2019 | 25.0 % |
| 2018 | 25.0 % |
| 2017 | 22.0 % |
| 2016 | 22.0 % |
| 2015 | 22.0 % |
| 2014 | 22.0 % |
| 2013 | 22.0 % |
| 2012 | 22.0 % |
Combined corporate income tax rate
| Period | Value |
|---|---|
| 2023 | 26.5 % |
| 2022 | 27.5 % |
| 2021 | 27.5 % |
| 2020 | 27.5 % |
| 2019 | 27.5 % |
| 2018 | 27.5 % |
| 2017 | 24.2 % |
| 2016 | 24.2 % |
| 2015 | 24.2 % |
| 2014 | 24.2 % |
| 2013 | 24.2 % |
| 2012 | 24.2 % |
Average annual wage, US$ PPP
| Period | Value |
|---|---|
| 2022 | $58,632 |
| 2021 | $57,204 |
| 2020 | $54,250 |
| 2019 | $53,289 |
| 2018 | $51,856 |
| 2017 | $48,820 |
| 2016 | $48,205 |
| 2015 | $46,293 |
| 2014 | $44,227 |
| 2013 | $43,345 |
| 2012 | $42,582 |
| 2011 | $40,557 |
Year by year · 35
| Country-year | Combined corporate income tax rate | Top statutory personal income tax rate | Tax revenue, % of GDP |
|---|---|---|---|
| South Korea 2024 | — | — | 13.3 % |
| South Korea 2023 | 26.5 % | — | 14.6 % |
| South Korea 2022 | 27.5 % | — | — |
| South Korea 2021 | 27.5 % | — | — |
| South Korea 2020 | 27.5 % | — | — |
| South Korea 2019 | 27.5 % | — | — |
| South Korea 2018 | 27.5 % | — | — |
| South Korea 2017 | 24.2 % | — | — |
| South Korea 2016 | 24.2 % | — | — |
| South Korea 2015 | 24.2 % | — | — |
| South Korea 2014 | 24.2 % | — | — |
| South Korea 2013 | 24.2 % | — | — |
| South Korea 2012 | 24.2 % | — | — |
| South Korea 2011 | 24.2 % | — | — |
| South Korea 2010 | 24.2 % | — | — |
| South Korea 2009 | 24.2 % | — | — |
| South Korea 2008 | 27.5 % | — | — |
| South Korea 2007 | 27.5 % | — | — |
| South Korea 2006 | 27.5 % | — | — |
| South Korea 2005 | 27.5 % | — | — |
| South Korea 2004 | 29.7 % | — | — |
| South Korea 2003 | 29.7 % | — | — |
| South Korea 2002 | 29.7 % | — | — |
| South Korea 2001 | 30.8 % | — | — |
| South Korea 2000 | 30.8 % | — | — |
| South Korea 1999 | — | — | 12.3 % |
| South Korea 1998 | — | — | 12.2 % |
| South Korea 1997 | — | — | 12.5 % |
| South Korea 1996 | — | — | 12.8 % |
| South Korea 1995 | — | — | 12.6 % |
| South Korea 1994 | — | — | 12.3 % |
| South Korea 1993 | — | — | 12.1 % |
| South Korea 1992 | — | — | 12.3 % |
| South Korea 1991 | — | — | 12.2 % |
| South Korea 1990 | — | — | 13.0 % |