Key information about South Korea Tax Revenue

• South Korea Tax Revenue was reported at 32.089 USD bn in Jan 2025.
• This records an increase from the previous figure of 14.444 USD bn for Dec 2024.
• South Korea Tax Revenue data is updated monthly, averaging 13.511 USD bn from Jan 2000 to Jan 2025, with 301 observations.
• The data reached an all-time high of 45.986 USD bn in Apr 2022 and a record low of 135.840 USD mn in Nov 2008.
• South Korea Tax Revenue data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: USD: Monthly.

CEIC converts monthly Tax Revenue into USD. Ministry of Economy and Finance provides year-to-date Tax Revenue in local currency. Federal Reserve Board average market exchange rate is used for currency conversions. Tax Revenue covers Central Government only.

In 2023, the income taxes collected by the South Korean National Tax Service (NTS) amounted to about 115.8 trillion South Korean won. The amount of collected income taxes has steadily increased throughout the years.

Key information about South Korea Tax revenue: % of GDP

• South Korea Tax revenue: % of GDP was reported at 12.2 % in Dec 2024.
• This records a decrease from the previous number of 13.5 % for Sep 2024.
• South Korea Tax revenue: % of GDP data is updated quarterly, averaging 13.4 % from Mar 2000 to Dec 2024, with 100 observations.
• The data reached an all-time high of 20.1 % in Mar 2022 and a record low of 10.1 % in Dec 2011.
• South Korea Tax revenue: % of GDP data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: % of Nominal GDP: Quarterly.

CEIC calculates quarterly Tax Revenue as % of Nominal GDP from monthly Tax Revenue and quarterly Nominal GDP. Ministry of Economy and Finance provides year-to-date Tax Revenue in local currency. The Bank of Korea provides the Nominal GDP in local currency. Tax Revenue covers Central Government only.

In 2024, the revenue from national taxes imposed by the central government stood at approximately ***** trillion South Korean won. The highest tax revenue was recorded in 2022.

Government Revenues in South Korea increased to 219734 KRW Billion in April from 151460 KRW Billion in March of 2025. This dataset provides - South Korea Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, South Korea's total revenue from comprehensive real estate holding taxes was approximately *** trillion South Korean won, which was a decrease compared to the previous year. The highest revenue from comprehensive real estate taxes was recorded in 2021.

South Korea Total Environment: Tax Revenue: % of Total Tax Revenue: Energy data was reported at 4.086 % in 2016. This records a decrease from the previous number of 4.119 % for 2015. South Korea Total Environment: Tax Revenue: % of Total Tax Revenue: Energy data is updated yearly, averaging 8.205 % from Dec 1994 (Median) to 2016, with 23 observations. The data reached an all-time high of 9.552 % in 2001 and a record low of 3.924 % in 1994. South Korea Total Environment: Tax Revenue: % of Total Tax Revenue: Energy data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.ESG: Environmental: Environmentally Related Tax Revenue: by Environmental Domain: OECD Member: Annual.

Tax revenue (% of GDP) in South Korea was reported at 15.72 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Tax revenue (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Tax revenue (current LCU) in South Korea was reported at 351646677140000 LCU in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Tax revenue (current LCU) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2023, the total revenue from inheritance taxes in South Korea amounted to about 8.54 trillion South Korean won, showing an increase compared to the previous year. The inheritance tax revenue in South Korea has increased steadily in the last few years, particularly after 2020.

Korea Revenue and Grants: Revenue: Tax Revenue: % of GDP data was reported at 14.825 % in 2016. This records an increase from the previous number of 13.948 % for 2015. Korea Revenue and Grants: Revenue: Tax Revenue: % of GDP data is updated yearly, averaging 13.920 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 15.476 % in 2007 and a record low of 10.501 % in 1973. Korea Revenue and Grants: Revenue: Tax Revenue: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Government Revenue, Expenditure and Finance. Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; Weighted Average;

In 2023, South Korea's ratio of total taxes to gross domestic product (GDP) was about ** percent, showing a slight decline from the previous year. Although the tax burden relative to GDP has been rising in recent years, it remains below the OECD average.

In 2023, the total tax revenue of local governments in South Korea amounted to approximately ***** trillion South Korean won, showing a decrease from the previous year. The total amount of local government tax collected has shown an upward trend over the past decades.

Korea Revenue and Grants: Revenue: Customs and Other Import Duties: % of Tax Revenue data was reported at 3.351 % in 2016. This records a decrease from the previous number of 3.904 % for 2015. Korea Revenue and Grants: Revenue: Customs and Other Import Duties: % of Tax Revenue data is updated yearly, averaging 8.173 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 21.169 % in 1978 and a record low of 3.351 % in 2016. Korea Revenue and Grants: Revenue: Customs and Other Import Duties: % of Tax Revenue data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Government Revenue, Expenditure and Finance. Customs and other import duties are all levies collected on goods that are entering the country or services delivered by nonresidents to residents. They include levies imposed for revenue or protection purposes and determined on a specific or ad valorem basis as long as they are restricted to imported goods or services.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

In 2023, the total revenue from employment income taxes in South Korea amounted to about 62 trillion South Korean won, showing an increase compared to the previous year. The employment income tax revenue in South Korea has increased steadily in the last years.

Korea Revenue and Grants: Revenue: Tax Revenue data was reported at 243,394,985.187 KRW mn in 2016. This records an increase from the previous number of 218,164,717.417 KRW mn for 2015. Korea Revenue and Grants: Revenue: Tax Revenue data is updated yearly, averaging 47,261,000.000 KRW mn from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 243,394,985.187 KRW mn in 2016 and a record low of 476,000.000 KRW mn in 1972. Korea Revenue and Grants: Revenue: Tax Revenue data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Government Revenue, Expenditure and Finance. Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

South Korea Ocean: Tax Revenue: % of GDP data was reported at 0.001 % in 2014. This records a decrease from the previous number of 0.001 % for 2013. South Korea Ocean: Tax Revenue: % of GDP data is updated yearly, averaging 0.001 % from Dec 1994 (Median) to 2014, with 21 observations. The data reached an all-time high of 0.003 % in 2006 and a record low of 0.000 % in 1994. South Korea Ocean: Tax Revenue: % of GDP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.ESG: Environmental: Environmentally Related Tax Revenue: Cross Cutting Domains: OECD Member: Annual.

Korea MOSF Forecast: Government Revenue: Tax Revenue data was reported at 340.300 KRW tn in 2022. This records an increase from the previous number of 325.700 KRW tn for 2021. Korea MOSF Forecast: Government Revenue: Tax Revenue data is updated yearly, averaging 266.750 KRW tn from Dec 2013 (Median) to 2022, with 10 observations. The data reached an all-time high of 340.300 KRW tn in 2022 and a record low of 216.400 KRW tn in 2013. Korea MOSF Forecast: Government Revenue: Tax Revenue data remains active status in CEIC and is reported by Ministry of Strategy and Finance. The data is categorized under Global Database’s South Korea – Table KR.F005: Consolidated Central Government Statistics: Forecast: Ministry of Strategy and Finance.

In 2023, the central government of South Korea collected about **** percent of the total national tax revenue. In contrast, local governments accounted for about **** percent of the tax revenue. This indicates that national tax revenues are significantly higher than those of local governments in South Korea.

Korea Central Government: Total Revenue: Year to Date: Tax Revenue: General Account data was reported at 207,600.000 KRW bn in Aug 2018. This records an increase from the previous number of 184,900.000 KRW bn for Jul 2018. Korea Central Government: Total Revenue: Year to Date: Tax Revenue: General Account data is updated monthly, averaging 120,750.000 KRW bn from Jan 2011 (Median) to Aug 2018, with 92 observations. The data reached an all-time high of 258,500.000 KRW bn in Dec 2017 and a record low of 23,600.000 KRW bn in Jan 2011. Korea Central Government: Total Revenue: Year to Date: Tax Revenue: General Account data remains active status in CEIC and is reported by Ministry of Strategy and Finance. The data is categorized under Global Database’s Korea – Table KR.F008: Central Government Fiscal Balance.