The government of South Korea is planning to give more tax incentives to corporate and personal financing in culture and leisure activities like libraries, museums, art galleries and performance in theaters.
An additional tax credit of 3 % will be given for investment in creating job in such sectors which will lead to a total tax deduction of between 4 % and 7 %. From 1 January 2014 the tax credit received will not be able to exceed an amount calculated by multiplying the number of created jobs by between KRW 10m (USD9,300) and KRW 20m.
