Search results for Income Tax Act
Finance
KOSPI hits 8,000 as debate returns over reviving financial investment income tax
With the KOSPI heating up and breaking above 8,000 intraday, debate has resurfaced over reviving South Korea’s financial investment income tax. Labour and civic groups call for normalising taxation of financial income, arguing capital income is insufficiently taxed compared with wages. President Lee Jae-myung has also raised the need to reform securities transaction and capital gains taxes. Opponents warn the tax could hurt sentiment and spur outflows, while the government has not formalised reintroduction.
Crypto
People Power Party pushes to abolish digital asset income tax after scrapping financial investment tax
South Korea\'s People Power Party has formalised as party policy a push to abolish an income tax on digital asset investment gains and is moving to pursue related legislation. At a meeting in Seoul, lawmakers and representatives of major exchanges discussed scrapping the planned taxation from Jan. 1, 2027. Lawmakers cited double taxation concerns, unequal treatment versus stocks and limits in the National Tax Service’s capacity and information systems.
Industry
Sungwoo posts 1 billion won 2025 operating profit, down 92.9 percent
Battery company Sungwoo said on Sunday it posted 85.6 billion won in 2025 revenue and 1 billion won in operating profit. Revenue fell 34.7 percent from a year earlier and operating profit dropped 92.9 percent. Net profit declined 73.0 percent to 4.9 billion won. Fourth-quarter revenue slid 34.9 percent to 19.4 billion won, but operating profit came to 1.3 billion won, returning to the black.