Stock transaction tax revenue halved on-year in Aug. amid economic slump

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets Wednesday afternoon. [YONHAP]

The amount of tax collected from stock transactions halved on-year in August, data showed Thursday, as the bearish market weighed down retail investors' appetite for local shares.

The combined amount of stock transaction tax collected in August came to 528.5 billion won ($368 million), down from 1.01 trillion won tallied a year earlier, according to Rep. Jin Sun-mee of the main opposition Democratic Party, citing data from the National Tax Service.

Over the January-August period, the amount came to 4.6 trillion won, down 35 percent from the previous year, it added.

The decline came as retail investors walked away from the stock market as the war between Ukraine and Russia and rate hikes dealt a harsh blow to the securities market.

The combined trading volume in the Korean stock market came to 627.5 trillion won in August, plunging from 1,153 trillion won tallied in the previous year. Those from retail investors dipped to 420.5 trillion won from 834 trillion won over the cited period, the data added.

Yonhap