The Korea Herald

지나쌤

Korea accounts for 10% of Samsung's 2016 revenue

By Park Ju-young

Published : July 24, 2017 - 09:26

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Korea accounted for around 10 percent of Samsung Electronics Co.'s combined sales last year, similar to the previous year's figure, reflecting the tech giant's expanding presence overseas, its report showed Monday

According to the business report released by Samsung Electronics, 20.2 trillion won ($18 billion) of its combined sales of 201.9 trillion won posted last year came from Korea.

The 10 percent figure remains nearly unchanged over the past three years.

(Yonhap) (Yonhap)
The North American market accounted for 34 percent, followed by Europe and the Commonwealth of Independent States with 19 percent, and China with 18 percent.

In 2011, Samsung earned 16 percent of its sales from Korea, but the figure gradually dropped in line with the expansion of the tech giant's global businesses.

Samsung Electronics also spent 8.9 trillion won in taxes around the globe, with 67 percent of them occurring in Korea. The combined amount of taxes mark a sharp growth from the 4.2 trillion won posted in 2011.

"While Samsung raked in sales mainly from overseas markets, its headquarters is still located in Korea, leading to higher tax payments," an industry watcher said. "Samsung's payment of taxes here is expected to grow sharply on the company's record-high earnings and a hike on corporate taxes."

The Korean government has been seeking to slap more taxes on large-sized businesses to fund its welfare policies. (Yonhap)