Samsung Electronics Paid 73% of Its 11 Trillion Won Taxes in Korea Last Year

2021 Sustainability Management Report Released

Partial excerpt from Samsung Electronics 2021 Sustainability Management Report [Provided by Samsung Electronics]

[Asia Economy Reporter Kim Heung-soon] It has been revealed that Samsung Electronics paid more than 70% of the tax and public charges from its global sales last year to South Korea.

According to Samsung Electronics' "2021 Sustainability Management Report" published on the 28th, the total tax and public charges paid by Samsung Electronics to the Korean government and other countries last year amounted to 11.1 trillion KRW, with 73% paid to South Korea by region. This means about 8.1 trillion KRW was paid as taxes domestically. This was followed by the Americas and Europe at 14%, Asia at 11%, and others at 2%.

The proportion of domestic tax and public charges decreased from 86% in 2018 to 69% in 2019, then rose again to 73% last year. The total amount of tax and public charges also increased by 14.4% compared to the previous year (9.7 trillion KRW).

By region, sales in the Americas were the highest at 78.3 trillion KRW (33%) last year. European sales followed at 46 trillion KRW (19%). Then came China with 37.8 trillion KRW (16%), Asia excluding China and Africa with 37.7 trillion KRW (16%), and South Korea with 37 trillion KRW (16%).

As of last year, Samsung Electronics had a total of 267,937 domestic and overseas employees, which is about 40,000 (13.5%) fewer than in 2018 (309,630). Domestically, the number of employees increased from 99,705 to 106,330, but the number of overseas employees decreased from 209,925 to 161,607.

Samsung Electronics announced that the sustainable management value it created over the past year was 47 trillion KRW. This amount includes financial value such as net profit of 26.41 trillion KRW, investor value including dividends, socio-economic value such as support for partner companies, and environmental value.

This content was produced with the assistance of AI translation services.