MODIFIED ARTICLE 46-6 (TAXATION PRIVILEGE FOR CARRYOVER OF DEFICITS UPON MERGER OF LOGISTICS CORPORATIONS)

① When a corporation managing the logistics industry (hereinafter referred to as a "logistics corporation" in this Article) merges with another logistics corporation by December 31, 2009, and meets all of the following requirements, the deficits of the corporation extinguished by the merger as of the merger registration date (hereinafter referred to as a "merged corporation") under Article 13 (1) 1 of the 「Corporate Tax Act」 may be deducted when calculating the taxable income for each business year of the merging corporation under Article 45 of the same Act, within the scope of the amount prescribed by a Presidential Decree. <Amended by 2018.12.24> 1. Meets all requirements under the respective paragraphs of Article 44 (1) of the 「Corporate Tax Act」. 2. The merging corporation succeeds to the assets of the merged corporation at their book value. 3. The shares or investment shares received by the shareholders, members, or investors of the merged corporation from the merging corporation are not less than 3% of the total issued shares or total investment amount of the merging corporation as of the merger registration date. 4. Falls under Article 45 (1) 3 of the 「Corporate Tax Act」.