South Korea Offers 30% Tax Relief for Gym and Swimming Pool Users in 2025

Kapanlagi.com - In an effort to encourage the public to be more active in sports, the South Korean government has announced an attractive policy: a 30% tax deduction for the use of gym and swimming pool facilities! This policy will take effect on July 1, 2025, after the revision of the Special Tax Limitation Act is approved by the National Assembly.

Through this program, individuals with an income of under 70 million won per year will have the opportunity to receive a tax deduction of up to 3 million won for the use of certain sports facilities. This is a smart move by the government to alleviate economic burdens while promoting a healthy lifestyle among the public.

The Ministry of Culture, Sports, and Tourism is also committed to expanding the scope of tax reductions in the cultural and sports sectors. Registered fitness centers and swimming pools will be prioritized in this program, although personal training or exclusive facilities are not included in this policy.

So, get ready to exercise more and enjoy the benefits! For more information, check out the summary by Kapanlagi.com on Friday (20/12).

1. Supporting the Growth of New Culture in Korea

This new policy was born from the community's demand to ease the burden of sports costs. In a national debate titled "Korea Transitioning to the Power of Youth" on March 5, 2024, the issue of tax reduction for sports facilities emerged as one of the hot topics.

In response, the Deputy Minister of Culture, Sports, and Tourism, Jang Mi-ran, committed to revising tax policies. Just five days later, on March 10, 2024, the National Assembly passed a revision to the Special Tax Limitation Act, which now also includes the sports sector, following tax cuts previously granted for books, performances, museums, art galleries, and films.

2. Tax Cuts Applicable for Residents Earning Below 70 Million Won Per Year

Starting July 1, 2025, South Korean residents with an annual income below 70 million won will enjoy an attractive tax cut of 30%! This deduction applies to the use of registered gyms and swimming pools, with a maximum limit of up to 3 million won per year. However, unfortunately, personal training sessions are not included in this program.

More than 13,000 sports facilities are ready to welcome you, as they have been registered in accordance with the Sports Facility Act. The government is also committed to holding orientation sessions to ensure that all facility owners can participate widely. So, get ready to exercise more economically!

3. Cultivate Public Interest in the Sports Industry

This program is not just a step to alleviate the economic burden on the community, but also serves as an encouragement for a healthier and more active lifestyle.

By reducing access costs to gyms and swimming pools, it is hoped that more people will be motivated to exercise regularly, which will certainly contribute to the overall improvement of public health. Moreover, this policy also opens opportunities for the sports industry; the increasing number of users of sports facilities will drive the growth of businesses in equipment, apparel, and facility management. The government is optimistic that this step will attract fresh new investments in the sports sector.

4. Intensify the Tax Program Campaign

In an effort to ensure the policy runs smoothly, the Ministry of Culture, Sports, and Tourism collaborates with the Korea Cultural Information Service to provide briefing sessions and educational campaigns for industry players.

Additionally, they will launch a dedicated portal for gym and swimming pool registration in early 2025, with pre-registration open until June 2025 before regular registration begins in July 2025. With this strategic move, the government hopes that more sports facilities will be registered and eligible for beneficial tax deductions.

5. Community Dreams with a Healthy Lifestyle

This new policy is expected to have a significant positive impact on the community and the sports industry in the long term. With more affordable access, participation in public sports activities is predicted to soar, which in turn can reduce the incidence of diseases caused by unhealthy lifestyles.

Moreover, this tax reduction is a smart step towards building a sustainable sports ecosystem in South Korea. As the demand for sports facilities increases, the related industry is expected to experience rapid growth, opening new job opportunities and encouraging innovation in this sector.

6. Who can benefit from this tax deduction?

Individuals with an annual income below 70 million won can now enjoy registered gym and swimming pool facilities more easily!

7. How to register for the facilities to participate in this program?

8. What are the main benefits of this policy?

Facility owners will soon have a golden opportunity to register through a special portal that will be launched by the government at the beginning of 2025.

(kpl/srr)