The Social Security Rate in South Korea stands at 18.94 percent.

Social Security Rate in South Korea averaged 17.42 percent from 2000 until 2020, reaching an all time high of 18.94 percent in 2020 and a record low of 15.30 percent in 2002. This page provides - South Korea Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Social Security Rate - values, historical data and charts - was last updated on October of 2020. source: Korean Worker's Compensation & Welfare Service

Social Security Rate in South Korea is expected to reach 18.94 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Social Security Rate is projected to trend around 18.94 percent in 2021, according to our econometric models.

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South Korea Social Security Rate

Actual Previous Highest Lowest Dates Unit Frequency
18.94 18.30 18.94 15.30 2000 - 2020 percent Yearly

South Korea Taxes Last Previous Highest Lowest Unit
Corporate Tax Rate 25.00 25.00 40.00 22.00 percent [+]
Personal Income Tax Rate 42.00 42.00 42.00 35.00 percent [+]
Sales Tax Rate 10.00 10.00 10.00 10.00 percent [+]
Social Security Rate 18.94 18.30 18.94 15.30 percent [+]
Social Security Rate For Companies 9.96 9.65 10.40 8.50 percent [+]
Social Security Rate For Employees 8.98 8.65 8.98 6.70 percent [+]

South Korea Social Security Rate
In South Korea, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of South Korea because they help to pay for many social programs including welfare, health care and many other benefits.