Korea Republic of

Country indicators

GDP per capita - gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. (Source: World Bank)

GDP per capita
(USD):

38,824.1

Fossil fuel subsidies (USD, billions) - All consumer and producer pre-tax subsidies. Pre-tax consumer subsidies exist when energy consumers pay prices that are below the costs incurred to supply them with this energy. (Source: IMF)

Fossil fuel subsidies (USD, billions):

0.23

Fossil Fuel Subsidies as % of GDP - All consumer and producer pre-tax subsidies as percent of a country’s GDP. (Source: IMF)

Fossil fuel subsidies
(% of GDP):

0.02

Fossil Fuel Subsidies with externalities as % of GDP - All consumer and producer post-tax subsidies. Post-tax consumer subsidies exist if consumer prices for energy are below supply costs plus the efficient levels of taxation. (Source: IMF)

Fossil fuel subsidies with externalities (% of GDP):

3.87

Revenue from environmentally related taxes as % of GDP - All revenue from environmentally related taxes - defined as any compulsory, unrequited payment to general government levied on tax-bases deemed to be of particular environmental relevance – as percent of a country’s GDP. (Source: OECD)

Revenue from environmentally related taxes (% of GDP):

n/a

Carbon pricing gap - Measure of how much countries fall short of pricing carbon emissions in line with a EUR 60 benchmark value (midpoint estimate of the carbon costs in 2020 and a low-end estimate for 2030). The difference is presented as percentage: If the Effective Carbon Rate (ECR) on all emissions is at least as high as the benchmark, the gap is zero, and if the ECR is zero throughout, the gap is 100%. (Source: OECD)

Carbon Pricing Gap
(%):

64 News

Fuel tax reduction drives down oil prices in South Korea

2018-11-19

06.11.2018 – The South Korean Ministry of Strategy and Finance temporarily lowered the fuel taxes by 15% for six months in order to reduce the people’s

Fisheries Policy Reform National Experiences (OECD)

2017-05-05

Much has been done over the years to improve fisheries management in OECD countries. Ongoing problems of over-fishing, overcapacity and the economic crisis intensify the

OECD Inventory of Estimated Budgetary Support and Tax Expenditures for Fossil Fuels

2017-03-29

The 2013 OECD Inventory of Estimated Budgetary Support and Tax Expenditures for Fossil Fuels identifies and estimates direct budgetary transfers and tax expenditures relating to

Reports

Taxing Energy Use 2015 (OECD)

2017-05-05

This OECD report provides a systematic analysis of the structure and level of energy taxes in OECD and selected partner countries, which together cover 80%

OECD-IEA inventory of fossil fuels and other support

2017-03-29

The OECD-IEA Inventory of Support Measures for Fossil Fuels provides updated fossil fuel support data for 34 OECD member countries and six partner countries, including

Policy Briefs

Republic of Korea – Country Profile

2017-11-07

Background The Republic of Korea (henceforth “Korea”) is located in East Asia, on the southern half of the Korean Peninsula. It has a temperate climate,