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Chip Boom Drives Up Tax Revenue, South Korea's Tax Income Expected to Hit Record High This Year
3 day ago /
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Author：小编
On September 30, South Korea anticipates its national tax revenue to reach a record high this year, primarily due to the strong performance of the semiconductor industry. The Ministry of Economy and Finance forecasts that tax revenue will reach KRW 478.6 trillion (approximately USD 353 billion) in 2026, representing a 28% year-on-year increase. This projection exceeds the estimate in this year's supplementary budget by KRW 63.2 trillion, mainly due to higher-than-expected tax revenue from chip companies' profits, special dividends, and stock transactions. If realized, South Korea's annual tax revenue will surpass KRW 400 trillion for the first time, approximately 21% higher than the record set in 2022.
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