From 2015 to 2021, the social security rate in South Korea reached its highest point in 2021, hitting 19.24 percent. Between 2016 and 2018, it stayed constant at 18.81 percent before declining to its lowest level of 18.3 percent.
Social security tax rate in South Korea from 2015 to 2021
Release date indicates date of last update.
The social security rate in South Korea is a tax imposed on labor income that is applicable to both employees and companies. The funds generated from this tax play a crucial role in supporting various social programs, such as welfare, healthcare, and other benefits, thereby serving as a significant source of income for the South Korean government.
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Trading Economics. (June 1, 2023). Social security tax rate in South Korea from 2015 to 2021 [Graph]. In Statista. Retrieved January 10, 2025, from https://www.statista.com/statistics/1388831/south-korea-social-security-rate/
Trading Economics. "Social security tax rate in South Korea from 2015 to 2021." Chart. June 1, 2023. Statista. Accessed January 10, 2025. https://www.statista.com/statistics/1388831/south-korea-social-security-rate/
Trading Economics. (2023). Social security tax rate in South Korea from 2015 to 2021. Statista. Statista Inc.. Accessed: January 10, 2025. https://www.statista.com/statistics/1388831/south-korea-social-security-rate/
Trading Economics. "Social Security Tax Rate in South Korea from 2015 to 2021." Statista, Statista Inc., 1 Jun 2023, https://www.statista.com/statistics/1388831/south-korea-social-security-rate/
Trading Economics, Social security tax rate in South Korea from 2015 to 2021 Statista, https://www.statista.com/statistics/1388831/south-korea-social-security-rate/ (last visited January 10, 2025)
Social security tax rate in South Korea from 2015 to 2021 [Graph], Trading Economics, June 1, 2023. [Online]. Available: https://www.statista.com/statistics/1388831/south-korea-social-security-rate/
