Korea, Rep. | Social contributions (% of revenue)

Social contributions include social security contributions by employees, employers, and self-employed individuals, and other contributions whose source cannot be determined. They also include actual or imputed contributions to social insurance schemes operated by governments. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source
Korea, Rep. | Social contributions (% of revenue)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
0.6932409 1972
0.88888889 1973
0.7797271 1974
0.83762887 1975
0.86430424 1976
0.91899251 1977
1.00391773 1978
1.09747024 1979
1.08340754 1980
1.01945161 1981
1.11392405 1982
1.14731126 1983
1.26288866 1984
1.50676954 1985
1.57750779 1986
1.69638033 1987
3.82569377 1988
4.36436358 1989
4.81935402 1990
5.19639479 1991
5.81992069 1992
8.50641141 1993
7.82251988 1994
7.8123677 1995
9.10077015 1996
9.52171038 1997
11.16198876 1998
11.47868765 1999
13.31023654 2000
14.87480507 2001
15.11719901 2002
14.72464547 2003
15.81780034 2004
16.17169716 2005
16.16771203 2006
14.03804033 2007
15.82805264 2008
16.38451259 2009
16.10871314 2010
16.07315191 2011
23.47819313 2012
24.3929123 2013
25.7853476 2014
26.30894747 2015
25.96819619 2016
25.79281702 2017
25.51348114 2018
26.975684 2019
28.70315302 2020
26.82826572 2021
2022

Korea, Rep. | Social contributions (% of revenue)

Social contributions include social security contributions by employees, employers, and self-employed individuals, and other contributions whose source cannot be determined. They also include actual or imputed contributions to social insurance schemes operated by governments. Limitations and exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries. Statistical concept and methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.
Publisher
The World Bank
Origin
Republic of Korea
Records
63
Source