S. Korea's tax revenue rises in January-February

Alsharq Tribune-Otaify 

South Korea's tax revenue rose for the first two months of this year due to a rapid growth in income and value-added taxes, government data showed Thursday.

The tax revenue stood at 71.0 trillion won (47.9 billion U.S. dollars) in the January-February period, up 10.0 trillion won from a year earlier, according to the Ministry of Planning and Budget.

The collection of income and value-added taxes swelled 2.4 trillion won and 4.1 trillion won each, but corporate tax revenue was unchanged in the cited period.

Aggregate revenue, including tax and non-tax revenue, came to 121.6 trillion won for the first two months of 2026, up 18.6 trillion won from a year earlier.

Total expenditure mounted 12.0 trillion won to 128.7 trillion won in the cited period.

The managed fiscal balance, excluding social security funds, logged a deficit of 14.0 trillion won in the January-February period.

The central government's debt totaled 1,312.5 trillion won in February, up 26.5 trillion won from a month earlier. (1 won equals 0.00067 U.S. dollars)