Lecture 12. Current Status of Korea’s Macroeconomy
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1. 2020 Asian countries GDP ranking
2. 2022 Republic of Korea large business groups – number of affiliates – fair assets ranking
3. Taxation in the Republic of Korea
1. 2020 Asian countries GDP ranking
○ China : ₩14,723 trillion
○ Japan : ₩5,058 trillion
○ India : ₩2,660 trillion
○ Korea : ₩1,638 trillion
○ Russia : ₩1,483 trillion
○ Indonesia : ₩1,058 trillion
○ Türkiye : ₩720 trillion
○ Saudi Arabia : ₩700 trillion
○ Thailand : ₩502 trillion
○ Israel : ₩407 trillion
○ Philippines : ₩361 trillion
○ United Arab Emirates : ₩359 trillion
○ Hong Kong : ₩347 trillion
○ Singapore : ₩340 trillion
○ Malaysia : ₩337 trillion
○ Bangladesh : ₩323 trillion
○ Vietnam : ₩271 trillion
○ Pakistan : ₩263 trillion
○ Iran : ₩203 trillion
○ Kazakhstan : ₩171 trillion
2. 2022 Republic of Korea large business groups – affiliates – fair assets ranking (Unit : KRW billion)
○ Samsung (삼성) - 60 - 467,992
○ SK - 176 - 270,747
○ Hyundai Motor (현대자동차) - 57 - 250,014
○ LG - 61 - 154,045
○ Lotte (롯데) - 67 - 122,921
○ POSCO (포스코) - 36 - 94,528
○ Hanwha (한화) - 88 - 78,534
○ GS - 89 - 75,141
○ Hyundai Heavy Industries (현대중공업) - 36 - 74,433
○ NongHyup (농협) - 53 - 65,177
○ Shinsegae (신세계) - 51 - 54,042
○ Hanjin (한진) - 41 - 49,523
○ KT - 50 - 40,341
○ CJ - 83 - 35,791
○ Doosan (두산) - 22 - 28,168
○ LS - 58 - 25,934
○ Kakao (카카오) - 139 - 25,490
○ Booyoung (부영) - 22 - 23,305
○ DL - 42 - 22,953
○ Mirae Asset (미래에셋) - 41 - 20,354
○ Jungheung Construction (중흥건설) - 51 - 19,880
○ Hyundai Department Store (현대백화점) - 22 - 18,742
○ S-OIL - 2 - 18,215
○ NAVER - 49 - 16,883
○ Korea Investment Finance (한국투자금융) - 31 - 15,325
○ HMM - 4 - 15,314
○ Celltrion (셀트리온) - 7 - 14,874
○ Harim (하림) - 55 - 14,682
○ HDC - 32 - 14,555
○ Hyosung (효성) - 52 - 14,153
3. Taxation in the Republic of Korea
○ Annual tax status in the Republic of Korea
Figure. 1. Annual tax status in the Republic of Korea
○ For gift tax, bearing the tax burden is the general rule : however, for lineal family members, gifts can be made without tax up to KRW 50 million per 10 years
○ Stock capital gains tax applies to major shareholders with ≥ 1% ownership or ≥ KRW 1 billion (10억) in holdings
○ Securities transaction tax applies to “ants” (individual retail investors)
Entered: 2022.03.20 02:11