Samsung Electronics, SK hynix's corporate tax tops 11 tln won in H1

Samsung Electronics and SK hynix Inc. combined paid 11.2 trillion won in corporate taxes during the first half of the year, a 167% increase from the previous year, according to financial filings. Samsung Electronics contributed 3.99 trillion won while SK hynix contributed 7.22 trillion won. The two companies' combined corporate tax payments surpassed 15.63 trillion won in the first half of 2019, marking the second-highest total on record.

The surge in payments is attributed to the recent semiconductor supercycle and the companies' record-high profits during the 2018 memory chip boom. Market observers anticipate further increases in corporate tax payments as Samsung Electronics and SK hynix are projected to report annual operating profits of 385 trillion won and 266 trillion won, respectively, by 2026.