According to media outlet reports on March 14 KST, actor Yoo Yeon Seok has been hit with a heavy tax penalty amounting to 7 billion KRW (~ $4.8 million USD), including unpaid income tax.
The actor was recently subjected to an intensive tax audit by South Korea's National Tax Service, resulting in an additional tax imposition of approximately 7 billion KRW. The audit included a detailed investigation into the finances of Yoo Yeon Seok's one-man entertainment agency, Forever Entertainment, where he serves as CEO.
Contesting the National Tax Service's decision, Yoo Yeon Seok filed for a follow-up tax review in January of this year, claiming "differing interpretations and applications of tax laws".
It's also been reported that Yoo Yeon Seok's side is actively seeking to reduce the tax amount during the review process.
When contacted for a statement regarding the news, Yoon Yeon Seok's label KingKong by Starship commented, "We are currently preparing an official statement."
Most recently, actress Honey Lee was also subjected to an intensive tax audit, being hit with a tax penalty of 6 billion KRW. The actress's side strongly denied suspicions of "tax evasion", confirming that the additional tax had been paid off in full.
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