The benchmark Korea Composite Stock Price Index dipped 126-point-03 points, or three-point-88 percent, Friday to close at three-thousand-119-point-41.

Seoul shares fell more sharply than they have in almost four months, with factors including investor concerns about the government’s proposed tax hikes for corporations and stock investors.

The planned changes would undo moves by the previous administration and raise the corporate tax rate by one percentage point across all brackets while lowering the minimum threshold for the capital gains tax, raising the number of taxable investors.

Though most shares fell, shipbuilder Hanwha Ocean, which is expected to benefit from a 150 billion-U.S.-dollar shipbuilding cooperation initiative proposed by Seoul as part of its recent tariff deal with Washington, saw its shares rise four-point-54 percent.

The tech-heavy KOSDAQ lost 32-point-45 points, or four-point-03 percent, to close at 772-point-79.