The percentage of South Korea’s national tax revenue that came from corporate taxes in 2013 was the second highest out of 27 member countries of the Organization for Economic Cooperation and Development, according to OECD data.

The nation’s corporate taxes supplied 14 percent of the national tax revenue, behind only Norway, whose corporate tax accounted for 20.9 percent of the total.

South Korea’s corporate tax ratio rose from 13.9 percent in 2010 to 15.5 percent in 2011, and decreased slightly in 2012 (14.9 percent), but is still higher than the OECD average of 8.3 percent. New Zealand (13.8 percent), Luxembourg (12.4 percent) and Israel (11.1 percent) followed closely behind Korea.

Experts pointed out that the tax ratio does not mean that individual companies pay high rates of corporate tax, but that it indicates that the economic structure is reliant on huge conglomerates and comparatively low salaries.