Korea's fiscal balance improves through September: budget ministry
Korea's fiscal balance improved in the first nine months of 2026 from a year earlier, helped by increased tax revenue on the back of strong corporate earnings, the budget ministry said Thursday. The managed fiscal balance, a key gauge of fiscal health calculated under stricter criteria, posted a deficit of 32 trillion won ($23.9 billion) as of the end of September, according to the Ministry of…
The Korea Times reports that the country's fiscal balance improved in the first nine months of 2026 compared to the same period in 2025. The managed fiscal balance, a key indicator of fiscal health calculated under stricter criteria, posted a deficit of 32 trillion won ($23.9 billion) by the end of September, a 70.5 trillion won improvement from the previous year's same period.
This improvement was driven by increased tax revenue, with tax revenue reaching 385 trillion won during the January-September period, up 95.4 trillion won from a year earlier. Corporate tax revenue rose by 51.9 trillion won due to strong earnings by domestic companies, while income tax revenue increased by 15.7 trillion won, driven by bonuses and an increase in housing transactions.
Non-tax revenue and fund revenue also increased, contributing to the overall improvement in the fiscal balance.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
