Among the following deductible expenses, the amount deemed excessive or inappropriate, as prescribed by Presidential Decree, shall not be included in deductible expenses for the purpose of calculating the amount of income of a domestic corporation for each business year:
1. Labor costs;
2. Expenses for fringe benefits;
3. Travel expenses and educational and training expenses;
4. Losses incurred or paid by a corporation in the course of jointly operating or managing an identical organization or business with a person, other than the corporation;
5. Expenses prescribed by Presidential Decree, other than those referred to in subparagraphs 1 through 4, deemed to have little direct connection to the business of a corporation.[This Article Wholly Amended on Dec. 30, 2010]