South Korea's tax receipts near 200 trillion won as revenue surges

South Korea's tax authorities report that cumulative national tax receipts for January‑May 2024 reached 199.9 trillion won, nearly 200 trillion and up 27.5 trillion won (16 %) from the same period last year. The collection rate hit 48.1 % of the supplementary budget target, outpacing the five‑year average of 46.6 %. The rise was driven mainly by income tax, which grew by 9 trillion won to 66.7 trillion won, and a sharp increase in securities transaction tax that jumped 400 % as stock‑market trading volumes surged, generating 5.4 trillion won. Corporate tax also rose by 3.9 trillion won to 46.6 trillion won, reflecting improved company earnings, while value‑added tax and other levies added further gains. Officials said the strong fiscal performance could open the door to a second supplementary budget, with the president noting possible funding for AI‑related GPU purchases.