'Supporting Small and Medium-Sized Enterprises for Cultural Access' to stimulate Small and Medium-Sized Enterprises' Consumption of Culture and Arts
A project to support part of entertainment expenses for cultural entertainment using performances and art will be carried out.
The Korea Mecena Association (CEO Kim Young-ho) has been conducting a project with the Korea Federation of Small and Medium Business to support cultural entertainment for small and medium-sized companies since September in order to promote the culture and arts of small and medium-sized enterprises.
For the first time this year, the 'Supply for Cultural Entertainment of Small and Medium Businesses' project is designed to support part of the cultural entertainment expenses of small and medium-sized enterprises, which are based on the fact that their entertainment expenses are larger than their sales volume.
According to the Bank of Korea's annual corporate management analysis for 2017, the ratio of entertainment to sales stood at 0.42 percent for small and medium-sized companies and 0.05 percent for large companies, more than double the current limit on entertainment sales. It also has a 39.2 percent ceiling on entertainment expenses for all companies.
Small and medium-sized enterprises selected as companies participating in the project can receive up to 1 million won in cultural entertainment fees if they use cultural entertainment through purchase of exhibition and performance tickets and invitations from art organizations.
The 'Project to Support Cultural Entertainment for Small and Medium Businesses' is being carried out as part of the 'Now, Let's Greetings in Culture' campaign to encourage companies to expand their new hospitality culture. "Now, let's say hello to culture" is a 2007 campaign to revitalize the cultural entertainment industry. The "Cultural Entertainment Preparation System" is a system that reduces the corporate tax burden by increasing the limit of taxable amount (cost processing) to 20 percent for cultural entertainment expenses alone.
The cultural entertainment system, which gives a good impression to clients and also reduces corporate tax, can be seen not only by companies but also by the art community, so both companies and the art world can do it in a win-win way.
A project to support cultural entertainment for small businesses can be applied until November this year. The business guides and application forms can be found in detail on the website of the Korea Messena Association.
The Korea Mecena Association (CEO Kim Young-ho) has been conducting a project with the Korea Federation of Small and Medium Business to support cultural entertainment for small and medium-sized companies since September in order to promote the culture and arts of small and medium-sized enterprises.
For the first time this year, the 'Supply for Cultural Entertainment of Small and Medium Businesses' project is designed to support part of the cultural entertainment expenses of small and medium-sized enterprises, which are based on the fact that their entertainment expenses are larger than their sales volume.
According to the Bank of Korea's annual corporate management analysis for 2017, the ratio of entertainment to sales stood at 0.42 percent for small and medium-sized companies and 0.05 percent for large companies, more than double the current limit on entertainment sales. It also has a 39.2 percent ceiling on entertainment expenses for all companies.
Small and medium-sized enterprises selected as companies participating in the project can receive up to 1 million won in cultural entertainment fees if they use cultural entertainment through purchase of exhibition and performance tickets and invitations from art organizations.
The 'Project to Support Cultural Entertainment for Small and Medium Businesses' is being carried out as part of the 'Now, Let's Greetings in Culture' campaign to encourage companies to expand their new hospitality culture. "Now, let's say hello to culture" is a 2007 campaign to revitalize the cultural entertainment industry. The "Cultural Entertainment Preparation System" is a system that reduces the corporate tax burden by increasing the limit of taxable amount (cost processing) to 20 percent for cultural entertainment expenses alone.
The cultural entertainment system, which gives a good impression to clients and also reduces corporate tax, can be seen not only by companies but also by the art community, so both companies and the art world can do it in a win-win way.
A project to support cultural entertainment for small businesses can be applied until November this year. The business guides and application forms can be found in detail on the website of the Korea Messena Association.
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