South Koreans donated less money in 2014 as more people felt the pinch of the prolonged economic slump, while companies donated more to charities, data showed Wednesday.

Total donations were tallied at 12 trillion won ($10.3 billion) in 2014, retreating from 12.47 trillion in 2013, the National Tax Service said. 

It was the first time that the amount has contracted since tax authorities compiled the data in 2006.

The amount of donations has steadily increased from 8.14 trillion won in 2006 to 9.61 trillion won in 2009 and 11.84 trillion won in 2012.

The drop was mostly attributable to sluggish donations in the private sector.

Personal donations even surged following the 2008 global financial crisis, rising from 5.37 trillion won in 2007 to 5.67 trillion won in 2008. It kept rising to 7.83 trillion won in 2013, but declined to 7.09 trillion won in 2014.

The ratio of personal donations also slipped to below 60 percent in 2014.

In contrast, corporate donations have climbed from 3.38 trillion won in 2007 to 4.91 trillion won in 2014, with its ratio rising to 40.9 percent in 2014, data noted. (Yonhap)