| (1) | Interest income shall consist of the following incomes generated during the relevant taxable period: <Amended by Act No. 10175, Mar. 22, 2010; Act No. 11146, Jan. 1, 2012; Act No. 14389, Dec. 20, 2016; Dec. 29, 2020> |
| 1. | Interest and the discounted value of bonds or securities issued by the State or a local government; |
| 2. | Interest and the discounted value of bonds or securities issued by a domestic corporation; |
| 2-2. | Gains from derivative-linked bonds received domestically or internationally, as prescribed by Presidential Decree; |
| 3. | Interest on deposits (including installment savings, security deposits, deposits, and postal transfer; hereinafter the same shall apply) received in the Republic of Korea; |
| 5. | Interest and the discounted value of bonds or securities issued by a domestic branch or a domestic business office of a foreign corporation; |
| 6. | Interest and the discounted value of bonds or securities issued by a foreign corporation; |
| 7. | Interest of deposits received overseas; |
| 8. | Profit margins on repurchase of bonds or securities prescribed by Presidential Decree; |
| 9. | Profit margins on any of the savings insurances specified by Presidential Decree: Provided, That profit margins on any of the following insurances shall be excluded herefrom: |
| (a) | An insurance the duration of which is at least ten years from the day on which the initial premium is paid to the expiry date or the date of early termination, which meets the requirements prescribed by Presidential Decree; |
| (b) | A pension insurance for life that meets the requirements prescribed by Presidential Decree; |
| 10. | Excess repayment from a workplace mutual-aid association prescribed by Presidential Decree; |
| 11. | Profits made from a non-business loan; |
| 12. | Income similar to any of those specified in subparagraphs 1, 2, 2-2, 3 through 11, in the nature of the price following any use of money; |
| 13. | Profits made from the conduct or trading of the relevant derivatives where the conduct or trading generating the income falling under any of subparagraphs 1, 2, 2-2, 3 through 12 is merged with the derivatives prescribed in Article 5 of the Financial Investment Services and Capital Markets Act (hereinafter referred to as “derivatives”) as prescribed by Presidential Decree. |
| (2) | The amount of interest income shall be the total amount of income during the relevant taxable period. |
| (3) | Necessary matters regarding the scope of interest income under the subparagraphs of paragraph (1) and of the amount of interest income under paragraph (2), shall be prescribed by Presidential Decree. |
[This Article Wholly Amended by Act No. 9897, Dec. 31, 2009]
[Enforcement Date: Jan. 1, 2025] Articles 16 (1) 2-2, 16 (1) 12, and 16 (1) 13