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National Account Transfer data released by the Statistics Korea Updated: 2019-01-22 18:08:08 KST



For the first time, Statistics Korea has made data from the National Transfer Accounts available, to show how finances are redistributed between age groups.
The data was first gathered this year in order to use it as a basis for developing policies on the national pension and health insurance.
The data was released is only from the year 2010 to 2015.

Over that time, 51 billion U.S. dollars of income tax was redistributed to those under 14, mainly in the form of healthcare and education. And 43 billion U.S. dollars was distributed to the elderly, in the form of healthcare, pensions and social protection.

The net inflow of money through the public transfers was the highest for people aged 10 years old at 10,4-hundred US dollars per person, and the net outflow of money through public transfer was the highest for people who are 43 years old with an outflow of 5,6-hundred US dollars.

Net inflow of money through private transfers, made between household members rather than through taxation, was the highest at 16 years old with 13-thousand US dollars per person, and the net outflow of money through private transfer was the highest for those aged 47 with 8,8-hundred US dollars.

When public and private transfers are combined, the total amount of re-distribution that would be made between all ages is 99 billion US dollars.
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