The two companies’ combined corporate taxes jumped 167 percent from a year earlier, marking the second-highest first-half total on record.
Logo of SK hynix, left, and Samsung
JOONGANG ILBO
Corporate taxes paid by Samsung Electronics and SK hynix totaled 11.2 trillion won ($8.1 billion) combined in the first half of this year following the recent semiconductor supercycle, financial data showed on Sunday.
Samsung Electronics paid 3.99 trillion won in corporate taxes in the first half, and SK hynix paid 7.22 trillion won, according to data from the Repository of Korea’s Corporate Filings, operated by the Financial Supervisory Service.
The two companies’ combined corporate taxes jumped 167 percent from a year earlier, marking the second-highest first-half total on record.
The figure followed their record 15.63 trillion won paid in the first half of 2019, based on their record-high profits during a memory chip boom in 2018.
Generally, companies pay corporate taxes in March for the previous fiscal year ending in December and in August for their interim first-half profits.
Market watchers expect the two companies’ corporate tax payments to increase, as Samsung Electronics and SK hynix posted first-half operating profits of 146.7 trillion won and 98.2 trillion won, respectively, compared to 11.4 trillion won and 16.7 trillion won the previous year.
Additionally, the two are forecast to post annual operating profits of 385 trillion won and 266 trillion won, respectively, in 2026.
Yonhap