South Korea’s healthcare expenditure rose significantly from $45.6 billion in 2011 to $76.9 billion in 2020, accounting for 9.3% of GDP. Despite universal health coverage, out-of-pocket (OOP) expenses remain high, particularly for women and the elderly. Public insurance comprised 64.4% of total spending, yet 35.6% still came from OOP payments, exceeding the OECD average. Key cost drivers include musculoskeletal disorders and chronic diseases. The study underscores the need for targeted policies to address rising costs and inequalities in healthcare access.