Search results for Securities Transaction Tax
Industry
Semiconductor tax windfall to fund \'future response\' scheme, but materials and equipment support missing
South Korea plans to use at least 100 trillion won in tax revenue expected from a semiconductor boom for future investment through a new fund, but critics say the plan leaves out support for materials, parts and equipment suppliers. A bill on the fund has completed a legislative notice period and would take effect upon promulgation. Officials expect much of the funding to come from higher corporate tax receipts as semiconductor profits are reflected.
Politics & Government
Park Hong-geun says Future Response Fund to invest in AI and regions
South Korea\'s government is considering a broad range of investment targets for a Future Response Fund to be formed from additional tax revenue, including AI and other advanced industries as well as rural and regional projects. Planning and Budget Minister Park Hong-geun said about 10 trillion won in extra funds had been secured from a surge in securities transaction tax and would be reviewed for contributions to rural development and agricultural growth. The fund\'s size has not been disclosed.
Finance
South Korea first-half fiscal deficit narrows to 84.4 trillion won
South Korea\'s fiscal deficit in the first half narrowed from a year earlier as revenue rose faster than spending, the budget agency said on Aug. 13. The managed fiscal balance stood at a 84.4 trillion won deficit as of end-June, 9.9 trillion won smaller than a year earlier. Total revenue rose to 381.9 trillion won, led by national tax revenue, while total spending increased to 425.8 trillion won.
