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20 % of South Korea’s exports came from Samsung smartphone Sales

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SEOUL: Samsung Electronics Company Sales accounted for 20 % of South Korea’s total exports in the first half of the year.

The company that produced the iconic Galaxy smartphones raised 75.2 tn won, equal to $62 bn in sales from January to June this year, with 86 % coming from abroad.

Samsung’s overseas revenues accounted for 20.6 % of the total exports of South Korea that registered at 313.4 tn won over the period. The country is considered as the 4th-largest economy in Asia.

The company registered its largest sales from North America with 21.2 tn won (US$17.5 bn), earnings from China were 17.8 tn won (US$14.7 bn), while sales from the Asian region, excluding South Korea and China, reached 16.7 tn won (US$13.8 bn). Europe had a total of 9 tn won or US$7.4 bn.

While Samsung earned most of its profits from the overseas market, the company paid the majority of its taxes at home. It paid 9.5 tn won or US$7.8 bn in corporate tax for the first half, an increase of 19.7 % from 2018.

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