Using 'Appa Chance' to Become a Building Owner and Open a Hospital... Embezzling Billions Through Internet Broadcasting for 'Luxury Bags'

National Tax Service Conducts Tax Investigation on 446 Minors with Illegally Acquired High-Value Assets

[Sejong=Asia Economy Reporter Kim Hyun-jung] Young adult B, a social novice, purchased a commercial building in the central area of a large city and opened a hospital in the building. However, an analysis of the source of funds revealed that the related funds came from B's wealthy father, a real estate rental business owner. A is suspected of receiving gifts for the acquisition funds of the commercial building and the equipment purchase costs, among other hospital startup funds.

The National Tax Service investigated the source of funds of young adult A, who acquired high-value assets worth tens of millions of won, including expensive apartments, commercial buildings, and luxury goods. A was a one-person broadcaster active on the internet. A earned several tens of millions of won annually through personal broadcasts and photo publications, received large gifts through a personal sponsorship account, but embezzled business income by issuing fabricated tax invoices through a management corporation owned by A.

The government is conducting tax investigations on 446 young adults who used so-called 'parental chances' as a loophole to acquire high-value assets with the help of their parents.

On the 30th, the National Tax Service announced, "Despite their young age, many suspects accumulated a lot of assets such as expensive commercial buildings, but in reality, they received assets and startup funds from their parents through irregular methods and failed to report taxes."

The investigation targets a total of 446 young adults, categorized as follows: 155 suspects who acquired high-value assets through parental assistance by irregular means and received irregular support for economic activities such as business operations; 72 suspects who concealed gifts by signing false loan contracts during real estate acquisition or had their parents repay large debts on their behalf; 197 suspects who received gifts through irregular capital transactions such as stock name trusts for management succession; and 22 freelancers suspected of receiving large cash gifts, failing to report income, and leading a luxurious lifestyle by hoarding luxury goods.

The National Tax Service plans to strictly respond to 'wealth inheritance without tax' including irregular gifts and strengthen verification of young adults with high suspicion of tax evasion.

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