Samsung, SK Hynix Post Combined Q1 Operating Profit of ₩94.8 Trillion; Corporate Tax Burden Rises Sharply

Samsung Electronics and SK Hynix recorded a combined operating profit of ₩94.8 trillion for the first quarter. Bolstered by the boom of the semiconductor supercycle, their combined Q1 operating profit reached ₩94.8 trillion. This performance either surpassed or neared last year's annual results, leading to an increase in corporate tax pre-payments and driving tax revenue growth.

Consequently, the corporate tax burden is expected to rise substantially, projecting significantly higher tax revenues than the government had anticipated. While the government estimated additional tax revenue to be around ₩27 trillion when the first supplementary budget was compiled this year, some projections now forecast this figure could reach ₩70 trillion due to the favorable semiconductor market conditions.

The discussion surrounding this excess tax revenue stems from the unique factors of the semiconductor boom. With the potential scale of excess tax revenue far exceeding initial revenue plans, the possibility of a second supplementary budget was raised. However, Professor Kim Woo-chul emphasized prioritizing national debt repayment and fiscal soundness.