Securities Transaction Tax Surges 338%, Pushing First-Half National Tax Revenue to 223 Trillion Won... Up 33 Trillion Won in a Year

MOEF Releases June National Tax Revenue Report
"Semiconductor Boom to Be Fully Reflected Starting in August"

Driven by a booming stock market and increased housing transaction volumes, national tax revenue in the first half of this year (January to June) surpassed 220 trillion won. As corporate tax prepayments in August start to reflect the outstanding export performance of semiconductor giants amid an industry supercycle, the total tax revenue for 2026 is expected to grow even further.

The KOSPI index started the day at 5681.77, up 18.53 points from the previous trading day, as the current status of the domestic stock market was displayed on the electronic board in the dealing room of the Hana Bank headquarters in Jung-gu, Seoul on the 30th. July 30, 2026 Photo by Jinhyung Kang

According to the national tax revenue status released by the Ministry of Economy and Finance on July 31, national tax revenue for June reached 23.1 trillion won, up 5.5 trillion won from the same month last year. Cumulative national tax revenue from January to June rose to 223 trillion won, marking an increase of 33 trillion won year-on-year. The tax revenue progress rate—meaning the collection rate relative to the government’s annual target—stood at 53.7%. This is significantly higher than both the 50.8% rate in the same period last year and the five-year average progress rate of 51.8%.

By tax category, income tax recorded the largest increase. Revenue from income tax totaled 75.7 trillion won in the first half, up 10.4 trillion won (15.9%) from the previous year. The main drivers were an increase in earned income tax resulting from expanded bonus payments by companies, and a rise in capital gains tax due to the revitalization of real estate transactions.

The highest growth rate was seen in the securities transaction tax. The securities transaction tax—imposed when investors sell shares—brought in a cumulative 6.8 trillion won in the first half as trading volumes surged on the stock market. This represents a sharp increase of 5.2 trillion won (338.7%) from the previous year. From January 1, 2026, the tax rate was raised from 0.0%–0.15% to 0.05%–0.20%. The special rural development tax imposed on KOSPI stock transactions saw collections rise to 10.1 trillion won, up 6.5 trillion won (175.1%) year-on-year.

Corporate tax revenue reached 49.3 trillion won, a 4.3 trillion won increase, mainly due to improved earnings by major companies. In June alone, tax payments for deadline-extended filings from the March final return contributed to a 400 billion won increase. The full impact of the semiconductor supercycle is not yet reflected. An official from the Ministry of Economy and Finance explained, “Since semiconductor exports have grown rapidly since the end of last year, the increased operating profits seen during the boom have not yet been reflected in corporate tax revenue collected so far,” adding, “From the August corporate tax prepayment, this impact is expected to materialize in earnest.”

Additionally, value-added tax revenue grew by 4.9 trillion won to 44.8 trillion won over the previous year, thanks to increased imports and reduced refunds. Inheritance and gift taxes rose by 1 trillion won to a total of 9.9 trillion won. Transport, energy, and environment tax revenue also increased by 300 billion won, supported by the partial reinstatement of fuel tax rates. In contrast, education tax revenue declined by 1 trillion won year-on-year to 2.8 trillion won, while liquor tax also dropped by 1 trillion won to 1.5 trillion won.

The outlook for national tax revenue in the second half of the year varies by category. For income tax, a steady rise in earned income tax is expected, but there are downward pressures on capital gains tax due to the expiration of temporary tax relief for multiple home owners. The path for securities transaction tax remains difficult to predict. A Ministry of Economy and Finance official commented, “While the average daily stock trading value approached 100 trillion won in June, it dropped to the 70 trillion won range in July,” adding, “Volatility and trading value do not always rise or fall in direct proportion, making forecasts challenging.”

This content was produced with the assistance of AI translation services.