Subsidies and other transfers in South Korea
South Korea: Subsidies and other transfers was 484.57 trillion current LCU in 2024. ◆ Volatile
Subsidies and other transfers in South Korea, 1987–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, subsidies and other transfers in South Korea stood at 484.57 trillion current LCU.
That represents a change of up 3.7% on the previous year and up 110.6% over ten years.
Over the whole period, subsidies and other transfers in South Korea peaked at 523.94 trillion current LCU in 2022 and was at its lowest, 379.00 billion current LCU, in 1987.
That places South Korea 2nd out of 153 countries with data for 2024, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 783.33 billion current LCU | 379.00 billion current LCU | 1.23 trillion current LCU | 3 |
| 1990s | 32.29 trillion current LCU | 14.96 trillion current LCU | 48.23 trillion current LCU | 10 |
| 2000s | 90.90 trillion current LCU | 53.58 trillion current LCU | 132.47 trillion current LCU | 10 |
| 2010s | 240.27 trillion current LCU | 135.40 trillion current LCU | 365.85 trillion current LCU | 10 |
| 2020s | 464.81 trillion current LCU | 403.76 trillion current LCU | 523.94 trillion current LCU | 5 |
Countries ranked near South Korea
More public sector data for South Korea
- Arms imports 1.01 billion SIPRI trend indicator values (2024)
- Tax revenue 13.3% (2024)
- Taxes on income, profits and capital gains 27.5% (2024)
- Taxes on goods and services 17.0% (2024)
- Net investment in nonfinancial assets 1.3% (2024)
- Net lending (+) / net borrowing (-) -1.8% (2024)
- Interest payments 5.3% (2024)
- Grants and other revenue 19.8% (2024)
- Interest payments 4.4% (2023)
- Other taxes 4.7% (2024)
Frequently asked questions
- What is subsidies and other transfers in South Korea?
- Subsidies and other transfers in South Korea was 484.57 trillion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest subsidies and other transfers recorded in South Korea?
- The highest recorded value was 523.94 trillion current LCU in 2022.
- What is the lowest subsidies and other transfers recorded in South Korea?
- The lowest recorded value was 379.00 billion current LCU in 1987.
- How does South Korea rank for subsidies and other transfers?
- South Korea ranks 2nd out of 153 countries with data for 2024.
- Is subsidies and other transfers rising or falling in South Korea?
- Over the last ten years it is up 110.6%. The long-run trend across the full record is volatile.
- 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 Subsidies and other transfers (current LCU). Statizoid updates them automatically from the source API.
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About this data
Subsidies are current unrequited payments that government units, including nonresident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services that they produce, sell, export or import. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.