South Korea recorded a government budget surplus last year for the first time in four years, partially due to the rise in real estate sales.
 
Seoul’s Finance Ministry said gross tax revenues for the 2015 fiscal year were 328-point-one trillion won, or about 275 billion U.S. dollars, while government spending was 319-point-four trillion won, or about 268 billion dollars.
 
The surplus amounted to about two-point-eight trillion won, disregarding the five-point-nine trillion won in tax revenue that was left unspent last year.
 
The government budget has been negative since 2012. The central government’s tax income was 217-point-nine trillion won, a rise of 12-point-four trillion won year-on-year and two-point-two trillion won higher than expected.

The real estate-related transfer tax revenue rose by three-point-eight trillion won. Increased tobacco taxes contributed to a rise in excise tax revenue of two-point-four trillion won.
 
Corporate tax income rose by two-point-four trillion won despite declines in sales.