SEJONG -- South Korea collected 37.4 trillion won ($32.3 billion) in taxes in August, up 4.8 trillion won from a year earlier, the finance ministry said Monday.

Income tax revenue amounted to 9.5 trillion won in August, up 3.2 trillion won from a year earlier, according to the Ministry of Economy and Finance.

Dues collected from companies, on the other hand, reached 11 trillion won in the month, down 900 billion won from a year earlier due to the lackluster earnings of local firms.

Taxes collected from customs also decreased 200 billion won over the period to 500 billion won due to the falling amount of imports.

South Korea's total expenditures in August reached 32.7 trillion won, up 2 trillion won from a year earlier. (Yonhap)