South Korea's benchmark stock index suffers biggest drop since April as government plans to raise capital gains tax

2025-08-01 09:09:33

South Korea's benchmark stock index fell as much as 3.1%, its biggest drop since early April, after the South Korean government proposed raising taxes on businesses and stock investors to boost revenue. SK Hynix's share price fell over 5%, weighing the most on the Kospi; a 7% drop in Hanwha Aerospace was another drag. The Kospi led declines in Asia; the MSCI Asia Pacific Index fell 0.4%. The proposal, released by the Ministry of Finance in Seoul late Thursday, would raise the top corporate tax rate from 24% to 25%.

SK hynix

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