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2025-08-01 09:17:52
[South Korea's benchmark stock index suffered its biggest drop since April as the government plans to raise capital gains tax] South Korea's benchmark stock index fell as much as 3.1%, the biggest drop since early April, after the South Korean government proposed raising taxes on companies and stock investors to increase revenue. SK Hynix's share price fell more than 5%, causing the biggest drag on the Kospi index; Hanwha Aerospace fell 7%, which was another factor dragging down the market. The Kospi index led the decline in Asia; the MSCI Asia Pacific Index fell 0.4%. According to the proposal released by the South Korean Ministry of Finance in Seoul on Thursday evening, the top corporate tax rate will be raised from 24% to 25%.
