Hiding 600 Million Won Under Safe and on Veranda, Concealing with 'Bitcoin'... National Tax Service Tracks 562 High-Value Tax Delinquents

Forced Collection Avoided by Transferring Entire Assets to Self-Established Nonprofit Corporation
Food YouTuber Hides Assets Under Relatives' Names Despite Earning Billions Annually from Advertising Revenue
National Tax Service Secures 1.5457 Trillion Won in First Half of This Year Through Tracking Investigation

The National Tax Service seized approximately 600 million KRW worth of cash and precious metals from the head of a food company who failed to report sales and pay income tax. The delinquent taxpayer hid cash, precious metals, and luxury bags under safes and on balconies while refusing to open the premises for a long time to delay the search, but was ultimately subjected to forced collection by the National Tax Service.

Cash and precious metals worth 600 million KRW collected by the National Tax Service from the actual residence of the food company owner who is in arrears.

On the 28th, the National Tax Service announced that it is conducting intensive tracking of a total of 562 delinquent taxpayers, including 224 who improperly transferred assets using related parties' names and 237 who concealed assets through virtual assets.

Kim Dong-il, Director of the Tax Collection and Legal Affairs Bureau at the National Tax Service, stated, "Malicious tax evasion acts, such as deliberately hiding assets and enjoying a luxurious lifestyle while avoiding tax payments, cause relative deprivation among the majority of citizens who faithfully fulfill their tax obligations and hinder the establishment of a sound tax culture. We are strictly responding to intelligent forced collection evasion by conducting intensive collection activities such as lifestyle investigations and searches of actual residences for delinquent taxpayers suspected of asset concealment."

According to the National Tax Service, Mr. A, who operated a food company and failed to pay comprehensive income tax imposed due to a tax audit for sales omission, closed his business and continued the same business under his child's name to evade forced collection, while living a luxurious lifestyle by driving expensive imported cars. The National Tax Service conducted five rounds of stakeouts and inquiries, confirming that the delinquent taxpayer resided in an apartment under his spouse’s name, and proceeded to search the actual residence. The taxpayer delayed the search by refusing to open the door for a long time and concealed cash stored in a safe under the safe and on the balcony, but the National Tax Service seized 500 million KRW in cash bundles, precious metals, and luxury bags, collecting a total of 600 million KRW.

There was also a case where a mobile phone seller, Mr. C, who concealed part of his income in virtual assets and failed to pay comprehensive income tax imposed due to excessive expense claims for a long period without special reasons. The National Tax Service confirmed the types and market prices of virtual assets held by the delinquent taxpayer through a virtual asset exchange and conducted forced collection, recovering the full amount of the delinquent tax.

There was also a food YouTuber who enjoyed a luxurious lifestyle while hiding assets in accounts under relatives’ names without paying many taxes despite earning hundreds of millions of KRW annually from advertising revenue. The National Tax Service is tracking assets of a total of 101 individuals, including 25 one-person media operators such as YouTubers, BJs, and influencers, and 76 professionals such as oriental medicine doctors, pharmacists, and legal scriveners.

Director Kim said, "The National Tax Service will practice tax justice by persistently tracking and collecting hidden assets from intelligent high-value delinquent taxpayers who evade tax obligations. We offer rewards of up to 3 billion KRW for reporting hidden assets of delinquent taxpayers, so we ask for active reporting by referring to the lists of high-value and habitual delinquent taxpayers."

Meanwhile, the National Tax Service conducted asset tracking investigations on high-value and habitual delinquent taxpayers through the first half of this year and collected and secured 1.5457 trillion KRW in delinquent taxes.

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