The ratio of South Korean workers exempt from paying earned income taxes reached 48.1 percent in 2014, higher than numbers found in other advanced economies. The sharp increase in 2014 follows the revision of the country's income tax rules that aimed to allow people to pay fewer taxes throughout the year in exchange for accepting smaller refunds at the year?s end.
In 2014, the ratio of workers who did not pay income taxes jumped to 17.8 percent, or 235,144, of the workers who earn 40 million won-50 million won ($36,000-45,000) a year. It was up sharply from just 1.5 percent, or 18,475, of the workers in the same wage category in 2013.
South Korea, meanwhile, beat developed countries in terms of the percentage of workers who did not pay income taxes. Its 48.1 percent ratio is much higher than the 25.1 percent reached in Australia and 2.9 percent in Britain.