Gyeongnam Province Seizes Financial Assets Held by High-Amount Local Tax Delinquents

Seizure of 1 Billion KRW in Stocks and Bonds Held by 114 High-Value Tax Delinquents

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 6th that it has seized financial assets worth 1 billion KRW held by 114 high-value local tax delinquents.

This seizure measure was taken based on the stock investment craze, a social issue since last year, targeting financial assets such as stocks and funds held by local tax delinquents owing more than 10 million KRW at 10 major domestic securities companies.

Mr. A, who is delinquent in local taxes amounting to 48 million KRW, was found to hold derivative products worth about 52 million KRW, and paid the full amount after the seizure.

Stocks owned by Corporation B, which is delinquent in acquisition tax of 35 million KRW, were also seized to secure tax claims.

Currently, seizures have been carried out on stocks and other assets worth 1 billion KRW held by 114 delinquents at two securities companies.

There are plans to secure claims through rights analysis of financial assets worth 2.5 billion KRW at other securities companies.

Additionally, seizures of virtual currencies such as Bitcoin, which have recently gained significant interest, are also being pursued.

This content was produced with the assistance of AI translation services.