SEJONG, Jan. 10 (Korea Bizwire) – South Korea’s national tax revenue increased sharply in the first 11 months of last year despite the protracted economic slowdown, government data showed Tuesday. The government collected a total of 230.5 trillion won (US$192 billion) in taxes through November in 2016, up 24.5 trillion won from a year earlier, [...]
SEJONG, Jan. 12 (Korea Bizwire) – South Korea’s tax revenue rose sharply on-year in the first 11 months of 2015 thanks to higher cigarette prices and increased real estate transactions, the finance ministry said Tuesday. In the January-November period, the government collected some 206.2 trillion won (US$171 billion) in taxes, up 16.8 trillion won from [...]
SEJONG, June 23 (Korea Bizwire) – South Korea’s tax revenue rose in the first four months of 2015 from a year earlier, helped by more taxes collected from businesses, the government said Tuesday. The finance ministry said it collected 78.8 trillion won (US$71.5 billion) in taxes in the January-April period, up 4.3 trillion won from the [...]
CHUNCHEON, May 28 (Korea Bizwire) — A major company is planning to develop a government-licensed foreigner-only casino complex on a 4.84 million ㎡ site in Chuncheon and Hongcheon county, where the company is currently developing a resort complex, according to an announcement on May 27. The company, whose name is unknown, will apply for one [...]
SEOUL, Dec. 29 (Korea Bizwire) – Korea’s 2014 tax revenue will likely miss its target by 11.7 trillion won (US$ 10.6 billion) to 12.7 trillion won (US$ 11.5 billion), according to a statement from the National Assembly Budget Office (NABO) on December 28. Korea’s tax revenue shortfall has been on the rise from 2.8 trillion won (US$ [...]