Article 74 (Special Cases for Deduction of Reserve for Objects of Exclusive Business)

For a corporation falling under any of the following subparagraphs, when applying Article 29 of the 「Corporate Tax Act」 to a business year ending by December 31, 2028, the income generated from its profit-making business (limited to profit-making businesses related to such business and such business facilities and targeting those who use such facilities, in cases of subparagraphs 4 and 5 of this paragraph; and limited to profit-making businesses related to the activities of national representatives, in the case of sports organizations under subparagraph 6) may be deducted as a reserve for objects of exclusive business, notwithstanding Article 29 (1) 2 of the said Act. <Amended by Act No. 11549, Dec. 27, 2010; Act No. 11947, July 25, 2011; Act No. 12215, Dec. 31, 2011; Act No. 12320, Jan. 26, 2012; Act No. 12366, Jan. 1, 2013; Act No. 12946, Jan. 1, 2014; Act No. 12855, Dec. 23, 2014; Act No. 13555, Dec. 15, 2015; Act No. 14188, May 29, 2016; Act No. 14467, Dec. 20, 2016; Act No. 15221, Dec. 19, 2017; Act No. 16125, Dec. 24, 2018; Act No. 16843, Dec. 31, 2019; Act No. 17695, Dec. 29, 2020; Act No. 19073, Dec. 31, 2022; Act No. 19812, Dec. 31, 2024; Act No. 19824, Oct. 1, 2025; Act No. 19836, Dec. 23, 2025> 1. A corporation falling under any of the following subparagraphs: a. A school corporation under the 「Act on the Establishment and Operation of Private Schools」 b. An industry-academia cooperation group under the 「Act on the Promotion of Industry-Academia Cooperation and Industry-Academia Collaboration」 c. A non-profit corporation under Article 32 of the 「Civil Act」 that operates a lifelong education facility in the form of a distance university under the 「Lifelong Education Act」 d. Seoul National University Corporation and its development fund under the 「Act on the Establishment and Operation of Seoul National University Corporation」 e. Deleted <Mar. 27, 2015> f. Incheon National University Corporation and its development fund under the 「Act on the Establishment and Operation of Incheon National University Corporation」 2. A social welfare corporation under the 「Social Welfare Services Act」 3. A corporation falling under any of the following subparagraphs: a. National university hospitals under the 「Act on the Establishment of National University Hospitals」 and national university dental hospitals under the 「Act on the Establishment of National University Dental Hospitals」 b. Seoul National University Hospital under the 「Act on the Establishment of Seoul National University Hospital」 c. Seoul National University Dental Hospital under the 「Act on the Establishment of Seoul National University Dental Hospital」 d. National Cancer Center under the 「Act on the Control of Cancer」 e. Local public hospitals under the 「Act on the Establishment and Operation of Local Public Hospitals」 f. Hospitals operated by the Korean Red Cross under the 「Act on the Organization of the Korean Red Cross」 g. National Central Medical Center under the 「Act on the Establishment and Operation of the National Central Medical Center」 h. A medical technology cooperation group established by a corporation falling under any of the following pursuant to Article 28-2 of the 「Act on the Promotion of Medical Technology」: 1) A corporation under subparagraph 1 a. 2) A corporation under subparagraph 2. 3) A corporation under subparagraphs a through g. 4. A corporation operating a library registered under the 「Library Act」 5. A corporation operating a museum or art museum registered under the 「Act on the Promotion of Museums and Art Museums」 6. A cultural and artistic organization and a sports organization permitted or authorized by the Government, as prescribed by Presidential Decree. 7. An organizing committee established under the 「Act on the Support for International Competition Events」, which has been announced by the Minister of Economy and Finance as necessary for efficient preparation and operation: a. Deleted <Dec. 31, 2022> b. Deleted <Dec. 31, 2022> c. Deleted <Dec. 31, 2022> d. Deleted <Dec. 23, 2014> e. Deleted <Dec. 31, 2022> f. Deleted <Dec. 19, 2017> 8. A corporation established under the 「Act on the Establishment and Operation of Public Service Corporations」 that has disbursed at least 80 percent of its expenditures for its objects of exclusive business or for general donations under Article 24 (3) 1 of the 「Corporate Tax Act」 in the relevant tax year, as scholarships. 9. A corporation falling under any of the following subparagraphs: a. Public Official Pension Service under the 「Public Officials Pension Act」 b. National Pension Service for Private School Teachers under the 「National Pension Act for Private School Teachers」

Deleted <Dec. 31, 2022>