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S. Korea 100 largest listed companies paid 16.6 tln won in taxes through Q3

All News 13:47 December 03, 2017

SEOUL, Dec. 3 (Yonhap) -- South Korea's 100 largest listed companies paid 16.9 trillion won (US$15.5 billion) in corporate taxes through the third quarter of this year, in the wake of strong earnings, a business information provider said Sunday.

The total amount of dues reflects the rise in operating income that surged 56.9 percent on-year to 77.83 trillion won in the January-September period, said Chaebul.com. The total paid in corporate taxes rose a sharp 35.3 percent compared with the same period in 2016, and the first time numbers exceeded the 16 trillion-won mark in the first three quarters of any year.

The local tracker of large conglomerates said if operating income continues to increase in the fourth quarter, the total amount of corporate taxes that can be collected should top 20 trillion won by year's end.

Of the big firms, Samsung Electronics Co., the world's leading smartphone and computer chip producer, paid 5.4 trillion won in taxes, up 183.3 percent on-year. SK hynix, the country's No. 2 chipmaker, paid 1.8 trillion won, through the first nine months, a surge of 542.2 percent compared with last year.

The two companies accounted for 43 percent of all corporate taxes paid by the top companies so far this year.

Other big companies, such as steelmaker POSCO, paid 562 billion won in dues through September, with Hyundai Motor Co. and Lotte Chemical Corp. reporting taxes of 507 billion won and 494 billion won, respectively.

S. Korea 100 largest listed companies paid 16.6 tln won in taxes through Q3 - 1


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