Korea, Rep.
Government finance and price level data from the World Bank WDI.
Government finances
Central government data (World Bank WDI). Not directly comparable with EU Maastricht figures which use general government.
Government debt
47.8% GDP
2024
Govt expenditure
28.3% GDP
2023
Budget deficit
1.8% GDP
2024
Price level
Korea, Rep. is 42.6% cheaper than the USA overall (2025). Index: USA = 100.
Overall price level
57.4(USA=100)
2025
Source: World Bank WDI (PA.NUS.PPP / PA.NUS.FCRF × 100). GDP price level only.
Government debt since 1996
| Year | Debt (% GDP) | Change |
|---|---|---|
| 1996 | 6.6 | — |
| 1997 | 8.4 | +1.8 |
| 2012 | 31 | +22.6 |
| 2013 | 33.4 | +2.4 |
| 2014 | 34.8 | +1.4 |
| 2015 | 35.7 | +0.9 |
| 2016 | 36.1 | +0.4 |
| 2017 | 35.4 | -0.7 |
| 2018 | 35.5 | +0.1 |
| 2019 | 37.7 | +2.2 |
| 2020 | 43.8 | +6.1 |
| 2021 | 45.8 | +2.1 |
| 2022 | 47.6 | +1.8 |
| 2023 | 48.6 | +0.9 |
| 2024 | 47.8 | -0.7 |
Data sources
| Dataset | Source | Coverage |
|---|---|---|
| Govt debt / expenditure / revenue / surplus | World Bank WDI (GC.* indicators) | 2000–2024 |
| Price level index (USA=100) | World Bank WDI PPP/XR ratio | 1990–2023 |
| Labour tax wedge | Eurostat earn_nt_taxrate | EEA/EU only |
| Statutory tax rates | OECD / EC Taxation Trends 2024 | EU+EFTA only |