Growth in tax revenue continued in May and the government has collected over 50 percent of its tax revenue goal for this year during the first five months. 

According to fiscal data released by the Finance Ministry on Tuesday, state tax earnings during the month of May grew 12-point-four trillion won year-on-year to 30-point-nine trillion won.

The cumulative total during the first five months of this year stands at 140-point-seven trillion, which is 16-point-nine trillion won more than the same period last year.

Through May, the government collected about 52-and-a-half percent of its target revenue for the whole year, up three-point-two percentage points from a year ago. 

Fiscal spending on key projects was tallied at 142-point-three trillion won in the January to May period, accounting for 50-point-eight percent of the planned annual budget of over 280 trillion won.