Korea's corporate tax revenue to top $149 bil. in 2027 as chip boom lifts profits
Korea’s corporate tax revenue is expected to top 200 trillion won ($149 billion) for the first time next year, as a semiconductor supercycle sends company profits soaring. It would also mark the first time since 2012 that corporate tax receipts overtake income taxes, according to government data, Monday. The windfall is putting a spotlight on a defining feature of the country’s economy: its heavy…
Korea's corporate tax revenue is projected to surpass $149 billion in 2027 for the first time ever, thanks to a surge in semiconductor profits. This marks the first time since 2012 that corporate tax receipts will exceed income taxes, according to government data. The substantial increase is spotlighting the country's heavy reliance on semiconductors for both exports and economic growth, making revenue particularly susceptible to fluctuations in the chip cycle.
The Ministry of Finance and Economy predicts 216.7 trillion won in corporate tax revenue, a 36.7 trillion won increase from the 180 trillion won expected in income taxes. This boom is primarily driven by semiconductor leaders like Samsung Electronics and SK hynix, as the global chip market remains strong. Corporate tax revenue has historically mirrored the industry's performance, having risen from 40 trillion won in previous years.
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