SEOUL, Sept. 30 (Xinhua) -- South Korea's finance ministry on Wednesday unveiled a revised fiscal outlook for 2026, forecasting a record-high tax revenue amid an unprecedented semiconductor boom.
The total tax revenue was estimated to hit an all-time high of 478.6 trillion won (about 353.1 billion U.S. dollars) in 2026, according to the Ministry of Finance and Economy.
The re-estimation was higher than last year's collection of 373.9 trillion won, surpassing the previous record of 395.9 trillion won set in 2022.
Revenue from corporate income tax was expected to surge 61.2 percent year-on-year to 136.4 trillion won in 2026, fueled by soaring corporate earnings, particularly from the country's top two chipmakers, Samsung Electronics and SK hynix.
The estimate for the combined operating profit of the two tech giants was set at 638 trillion won in 2026, sharply higher than 91 trillion won in 2025.
The collection of individual income tax was projected to increase 16.9 percent to 152.4 trillion won on the back of faster wage growth, driven by performance bonuses in the semiconductor and financial sectors, alongside Samsung's massive special dividend payment plan.
The value-added tax revenue was forecast to grow 12.4 percent to 89.0 trillion won due to private consumption recovery and import expansion.
Revenue from securities transactions and special rural taxes was estimated to spike in triple digits owing to explosive stock trading volumes in the first half. ■