The South Korean government does not have enough national tax revenue. The shortage is growing. On July 31, 2024, South Korea’s Ministry of Strategy and Finance released the “National Tax Revenue Status for June 2024.” Please see below. ⇒ Reference/Source: Official website of the Ministry of Strategy and Finance of Korea ” “ Please pay attention to the yellow highlighted parts in the table above. The cumulative national revenue from January to June 2024 is “168.6 trillion won,” which is 10 trillion won short compared to the same period last year. Until now, there was a shortfall of 9 trillion won, but the deficit has widened to 10 trillion won short of the previous year’s national revenue. Another serious issue is corporate tax. Cumulative corporate tax from January to June 2024 was only 30.7 trillion won, down 16.1 trillion won from the same period last year. The actual figure is -34.4%. This indicates that companies are in a slump and are no longer able to make profits, which is a very bad result. As a result, the South Korean government’s income is decreasing and it is in a difficult situation. Despite this, expenses just keep increasing as they deal with the “TMON’’ and “WEMP’’ situations, the PF situation (dealing with bad debts), etc. With income falling short of expectations and expenditures increasing, the South Korean government’s finances are only becoming more strained. (Yoshida Hunting @dcp).
South Korea’s national cutting-edge industries, such as semiconductors and lithium batteries, are eligible for tax exemptions. Even if companies like Samsung make a profit, their corporate tax rate will be reduced. Furthermore, there is a time lag between tax earnings and payments, so last year’s earnings become this year’s payments. It is certain that corporate tax this year will be lower than last year.
They just want to say “Korean Wave and K-pop are really popular around the world” and they’re spending a lot of money on production costs, so they should cut that.
>>16 Japan’s corporate tax revenues have increased by a healthy 6%, bringing it closer to the bubble era. Total tax revenue has also reached a record high for four consecutive years, so it does not seem like this is just a benefit of the weak yen.
That means business activity is sluggish. Isn’t this a major recession? Which is worse, the collapse of China’s bubble, or something like that? And yet, it’s not being reported anywhere in the news.
Samsung doesn’t pay taxes 🥺 Samsung’s operating profit is 10 trillion won, an increase of 1,452% = Internet users say “Samsung is the pride of Korea” and “yet they pay zero corporate tax” [7/8] [Bird★].
Korea owes Japan a huge amount of money, so it’s not a problem. It’s estimated that the wealth stolen from mainland Korea during the Japanese Empire is worth over 1 quadrillion yen in today’s currency. Have the Japanese forgotten that they are obligated to pay Korea 500 trillion yen every year?
As expected, there aren’t many Korean monkeys who are better than Japanese ones lol [Good news] Japan’s tax revenues have far exceeded the bubble period and reached a new record high! [902666507].
Youth unemployment is high and pensions are paltry. In his 40s, he was fired from a large company and opened a chicken shop, but it went out of business due to the recession, leaving him with nothing but debts. Corporate performance has also been sluggish and corporate taxes have plummeted. No matter how you look at it, it’s sinking.
Koreans living abroad, who are supposed to be “an excellent people supporting the Japanese economy,” should be allowed to return home. They would be able to aim for the revival of Korea and the decline of Japan at the same time, so there would be no reason for them to refuse. Plus, if they can help boost Korea, they’ll have the added bonus of gaining a solid position as heroes who saved the country.
The Korean government is currently accepting immigrants with rave reviews! For all Koreans living in Japan, this is your golden opportunity! Leave outdated Japan and go to your homeland.
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