South Korea’s 2027 national tax revenue proposal projects corporate tax at 216.7 trillion won, reported as $156 billion, as semiconductor profits and a 1 percentage point rate increase lift receipts. Corporate tax would exceed the 180 trillion won income-tax forecast by 36.7 trillion won, surpass 200 trillion won for the first time and overtake income tax for the first time since 2012. Total national tax revenue is projected at 584.4 trillion won, while sovereign and government-guaranteed debt issuance is planned at 287.7 trillion won. The sharp rebound from 62.5 trillion won in corporate tax revenue in 2024 highlights South Korea’s exposure to semiconductor cycles. The Future Response Fund is intended to stabilize fiscal planning during revenue swings and could become a significant source of Korean Treasury bond demand.