Public Interest Corporation Obligations
The Act on Public Interest Corporations and the Inheritance and Gift Tax Act impose extensive requirements on non-profit organizations in Korea.
External Audit
Mandatory for assets ≥ ₩1B
Disclosure
Financial statements within 4 months
Contributed Property
Reports within 3 months of receipt
Gift Tax
Conditional exemption review required
Non-compliance can result in loss of tax-exempt status, gift tax assessments, penalties, and reputational damage.
Our Public Interest Corporation Services
External Audit
Annual external audits for corporations with total assets of ₩1B+ in full compliance with Korean audit standards and public interest corporation regulations.
Financial Statement Disclosure
We prepare and submit annual disclosures on the NTS Public Interest Corporation Information System within the statutory four-month deadline.
Contributed Property Reporting
Detailed reports to the tax authority within three months of receiving donated property — cash, real estate, securities, or other assets.
Donation Tax Review
Not all donations are automatically exempt from gift tax. We verify compliance with public interest purpose requirements and filing obligations.
Ongoing Compliance Support
Year-round advisory on permissible expenditures, related-party transactions, new donations, and evolving regulatory requirements.
Why Bricks Insight?
Specialized Non-Profit Expertise
Deep knowledge of public interest corporation laws and NTS requirements
Full Compliance Coverage
Audit, disclosure, contributed property reporting, and donation tax review under one roof
Bilingual Reporting
English summaries for international donors, parent organizations, and overseas stakeholders
Proactive Risk Management
Identify compliance gaps before they become enforcement issues
Insights for Foreign Businesses
Ready to get started?
Reach out and let us know how we can support your business in Korea.