South Korea's Tax Revenue Sees Notable Increase
(MENAFN) South Korea's tax income saw a notable increase in the first five months of 2025, driven by stronger corporate and income tax collections, according to government figures released Thursday.
Data from the Ministry of Economy and Finance showed that tax revenue reached 172.3 trillion won ($125.6 billion) between January and May—marking a 21.3 trillion won ($15.5 billion) rise compared to the same period last year.
Total government income—which includes both tax and non-tax sources—hit 279.8 trillion won ($204.0 billion), reflecting an annual increase of 21.6 trillion won ($15.8 billion).
On the spending side, total expenditures rose by 4.9 trillion won ($3.6 billion) year-on-year, amounting to 315.3 trillion won ($229.9 billion) during the five-month stretch.
Despite the revenue gains, the managed fiscal balance—which excludes the social security fund—showed a deficit of 54.2 trillion won ($39.5 billion) during the same period.
As of the end of May, South Korea’s central government debt had risen by 19.9 trillion won ($14.5 billion) from the previous month, standing at 1,217.8 trillion won ($887.0 billion).
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