The amount of earned income taxes jumped nearly 70 percent over the past five years.

According to data from the finance ministry on Monday, earned income taxes as of the 2022 settlement totaled 57-point-four trillion won, or around 50 billion U.S. dollars, to surpass 50 trillion won for the first time.

The 2022 amount was 68-point-eight percent higher than the 34 trillion won posted in 2017.

The five-year expansion is greater than the increase in overall state taxes of 49-point-two percent, with the consolidated income tax levied on business owners and the self-employed rising 49-point-four percent during the same period.

The government said the increased earned income taxation reflects a rise in the number of newly employed individuals due to the economic recovery.

Data showed, however, that while there were nearly one-point-95 million more people filing earned income taxes in 2022 than in 2017, 35-point-three percent of them did not have to pay taxes as their income fell below the threshold.