Seoul's Top High-Amount Habitual Tax Delinquent 'Chinese'... Local Tax High-Amount Delinquent, O Mun-cheol Tops for 5 Years (Comprehensive)

10,296 Delinquents in Local Taxes and Others Disclosed... Oh Moon-cheol Tops with 15.1 Billion for 5 Years
Seoul, Chinese Individual on Highest Amount List... Jeon Du-hwan, Jang Young-ja, LCT Lee Young-bok Also Included

Top 10 Individual High-Amount Habitual Local Tax Delinquents in 2021 (Provided by the Ministry of the Interior and Safety)

[Asia Economy Reporter Lim Cheol-young] The list of 10,296 high-amount tax delinquents was released on the 17th. Among individuals, former Bohae Savings Bank CEO Oh Moon-cheol, who failed to pay 15.2 billion KRW in local taxes, ranked first, while among corporations, Dream Hub Project Finance Investment Co., Ltd., a former developer of the Yongsan Station area, topped the list with 55.2 billion KRW in unpaid property taxes.

The Ministry of the Interior and Safety, Seoul Metropolitan Government, and other local governments disclosed the names of 10,296 habitual high-amount tax delinquents (individuals and corporations) on their respective websites on the 17th. The disclosure targets are individuals and corporations who have failed to pay local taxes and local administrative penalties or charges for over one year as of January 1 of this year, with unpaid amounts exceeding 10 million KRW.

The number of disclosed delinquents this year increased by 628 (6.5%) from last year’s 9,668. Last year, those who paid 30% of their delinquent amount were excluded from the disclosure list, but from this year, the requirement was tightened to exclude only those who pay 50%. The total amount of unpaid local taxes by the disclosed delinquents is 435.5 billion KRW.

Oh Moon-cheol, who has ranked first in individual delinquent amounts for five consecutive years since 2017, was sentenced to seven years in prison for illegal and unsound loans at savings banks. Former Hansol Group Vice Chairman Cho Dong-man (resident tax 8.3 billion KRW) and Lee Dong-kyung (local income tax 7.3 billion KRW) ranked second and third, respectively. Additionally, former President Chun Doo-hwan appeared on the list for failing to pay about 1 billion KRW in local income tax (capital gains tax) related to real estate under the names of his sons Jae-guk and Jae-nam. Lee Young-bok, the actual owner of LCT, who was suspected of political lobbying and preferential allocation, failed to pay 1.3 billion KRW in local income tax and other taxes. Jang Young-ja, involved in a promissory note fraud case in the 1980s, was also included on the list with about 900 million KRW unpaid.

Among corporations, following Dream Hub Project, GS Construction (unrelated to GS Group) owed 16.7 billion KRW, Samhwa DNC 14.4 billion KRW, and JU Development (113 billion KRW) and JU Network (109 billion KRW), run by Joo Soo-do, who conducted illegal multi-level marketing fraud, were also listed.

Among the 13,854 delinquents disclosed by Seoul City, the highest individual amount was by Chinese national ‘WEN YUEHUA’, who failed to pay 1.3 billion KRW in local income tax. The highest corporate delinquent was ‘Power Fine Limited’, an investment advisory firm led by Chinese national ‘CHEUNG AH SHUEN’, with 1.6 billion KRW in local income tax unpaid. Seoul City’s newly disclosed delinquents totaled 865, including 635 individuals and 230 corporations, with a total delinquent amount of 65.5 billion KRW. After prior notification and opportunities to pay or explain were given to the disclosed delinquents, 241 paid 4.9 billion KRW voluntarily.

Top 10 List of Newly Disclosed Names (Provided by Seoul City)

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