Corporate Tax Rate in South Korea remained unchanged at 25 percent in 2021 from 25 percent in 2020. source: National Tax Service, South Korea

Corporate Tax Rate in South Korea averaged 29.08 percent from 1974 until 2021, reaching an all time high of 40 percent in 1975 and a record low of 22 percent in 2009. This page provides - South Korea Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Korea Corporate Tax Rate - values, historical data and charts - was last updated on May of 2021.

Corporate Tax Rate in South Korea is expected to reach 25.00 percent by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Corporate Tax Rate is projected to trend around 25.00 percent in 2022, according to our econometric models.

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South Korea Corporate Tax Rate

Actual Previous Highest Lowest Dates Unit Frequency
25.00 25.00 40.00 22.00 1974 - 2021 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 Corporate Tax Rate
In South Korea, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the top marginal corporate income tax rate for corporations with more than KRW 200 billion of taxable income a year. Revenues from the Corporate Tax Rate are an important source of income for the government of South Korea.