Seongnam City, Synergy Effect with Companies... Corporate Tax Increases by 28.4 Billion Won

【Financial News Seongnam=Jang Chung-sik Reporter】Gyeonggi-do Seongnam City announced on the 15th that as a result of the 2025 corporate local income tax final report, 279.3 billion won was reported and paid, an increase of 28.4 billion won compared to last year.
This accounts for 37.5% of Seongnam City's total local income tax target, reflecting the increase in sales of local companies and their faithful tax payment.
This report was received from 25,600 corporations in Seongnam City, with improvements in business performance centered on high-tax-paying corporations being cited as the main reasons for the increase.
In particular, the total payment amount of the top 200 high-tax-paying corporations (over 1 billion won) increased by 13.7 billion won from 181.7 billion won in 2024 to 195.4 billion won in 2025, and the payment amount of companies below 201st place also increased by 14.7 billion won compared to the previous year.
This figure shows the improvement in management performance and tax payment capacity not only of large companies but also of medium-sized and small enterprises overall.
The corporate local income tax is used entirely as the city's own resources, and the taxes paid by companies are reinvested in the region, serving as a foundation for comprehensive growth in various fields.
Naver Corp., located in Bundang, paid 34.4 billion won, and SK Hynix Inc. paid 13.6 billion won, with significant improvements in the performance of major companies, and the growth of IT and gaming companies centered around Pangyo Techno Valley also greatly contributed to the tax increase.
The city plans to continue expanding investments centered on companies, including the Wirye POSCO Global Center, and strengthen its position as a high-tech industry-centered city.
In addition, the city plans to continuously strive to create a business-friendly environment by expanding tax benefits, providing customized support for companies, and strengthening cooperation systems.
A Seongnam City official said, "The increase in corporate local income tax is a positive signal showing growth in various fields, not limited to specific industries," adding, "In particular, the 'Fabless Design Academy' talent training program operated by the city to strengthen SME competitiveness is analyzed to have had a positive impact on improving the tax payment conditions of SMEs."

jjang@fnnews.com Jang Chung-sik Reporter