Social spending as a share of GDP South Korea 2021, by sector
In 2021, South Korea devoted around five percent of its gross domestic product (GDP) to public expenditure on healthcare. Its spending on old-age benefits, which include pensions, early retirement pensions, home help, and residential services for the elderly, came in second. Except for unemployment and other social policy areas, South Korea's spending on social programs was lower than the average of the Organization for Economic Co-operation and Development (OECD).
