S. Korea Accounts for 10 pct of Samsung's 2016 Revenue | Be Korea-savvy

S. Korea Accounts for 10 pct of Samsung’s 2016 Revenue

(image: KobizMedia/ Korea Bizwire)

(image: KobizMedia/ Korea Bizwire)

SEOUL, Jul. 24 (Korea Bizwire)South Korea accounted for around 10 percent of Samsung Electronics Co.’s combined sales last year, similar to the previous year’s figure, reflecting the tech giant’s expanding presence overseas, its report showed Monday

According to the business report released by Samsung Electronics, 20.2 trillion won (US$18 billion) of its combined sales of 201.9 trillion won posted last year came from South Korea.

The 10 percent figure remains nearly unchanged over the past three years.

The North American market accounted for 34 percent, followed by Europe and the Commonwealth of Independent States with 19 percent, and China with 18 percent.

In 2011, Samsung earned 16 percent of its sales from South Korea, but the figure gradually dropped in line with the expansion of the tech giant’s global businesses.

Samsung Electronics also spent 8.9 trillion won in taxes around the globe, with 67 percent of them occurring in South Korea. The combined amount of taxes mark a sharp growth from the 4.2 trillion won posted in 2011.

“While Samsung raked in sales mainly from overseas markets, its headquarters is still located in South Korea, leading to higher tax payments,” an industry watcher said. “Samsung’s payment of taxes here is expected to grow sharply on the company’s record-high earnings and a hike on corporate taxes.”

The South Korean government has been seeking to slap more taxes on large-sized businesses to fund its welfare policies.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>