South Korea’s welfare spending as a percentage of its economy was the lowest among surveyed member states of the Organization for Economic Cooperation and Development (OECD).
 
Data disclosed by the South Korean government and the OECD Thursday showed that South Korea’s social expenditure was 10-point-four percent compared to its Gross Domestic Product (GDP), putting the country in the lowest rung of the 28-member survey.
 
The number is less than half of the OECD average, 21-point-six percent, and only a third of France’s 31-point-nine percent.
 
The United States came in 22nd at 19-point-two percent. Even Estonia in 27th place was far ahead of South Korea at 16-point-three percent.
 
The low welfare spending appears to be associated with a low tax burden in the country.
 
South Korea’s total tax revenue and public pension contributions as a share of GDP was the third lowest of 30 surveyed OECD countries. South Korea’s was 24-point-three percent as of 2013, ahead only of Chile at 20-point-two percent, and Mexico with 19-point-seven percent.