Search results for national tax revenue
Industry
Semiconductor export boom swells Korea budget, setting up September parliamentary clash
South Korea’s government budget for 2027 is set to rise sharply as a semiconductor export boom lifts tax revenue, raising the stakes for a September parliamentary session over how to allocate funds. The plan boosts spending to 820.9 trillion won and lifts revenue to 880.8 trillion won, led by a jump in national tax receipts. Funding for semiconductor and AI initiatives rises, including a new semiconductor special account, while debates centre on tax credits, infrastructure support and an exception to the 52-hour workweek cap.
Industry
Government to set up future response fund based on 162.3 trillion won in extra tax revenue, double megaproject budget
South Korea’s government plans to create and set aside a 162.3 trillion won future response fund in its 2027 budget, allocating 45.4 trillion won to four areas: youth, growth engines, regions and education and talent. Spending for “three megaprojects plus AI” covering semiconductors, physical AI and AI data centres rises 97.2 percent to 21.3 trillion won. Total 2027 spending is set at 820.9 trillion won, up 12.8 percent.
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.
