"Celebrities Who Lent Money to Lee Jinho Should Pay Gift Tax"... Netizens File Petition

As comedian Lee Jinho has confessed to illegal gambling, there is growing attention on a petition that calls for the imposition of gift tax on fellow celebrities who lent him gambling funds.

On October 14, a post appeared on an online community stating that a petition had been filed requesting a comprehensive investigation of the celebrities who lent money to Lee Jinho and the imposition of gift tax. The author, identified as Mr. A, explained, "Any celebrity who lent money to Lee Jinho in the form of a gift, rather than a loan, is required to pay gift tax under the current Inheritance and Gift Tax Act," adding, "I reported this to the National Tax Service through the e-People portal."

Comedian Jin Ho Lee Confesses to Illegal Gambling [Image Source=Captured from SM C&C]

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Earlier that day, Lee Jinho posted a lengthy message on social media, admitting that he began gambling on an illegal online gambling site in 2020. He borrowed money from fellow celebrities and accumulated a significant amount of debt, and it has been reported that he still owes a large sum to Jimin, a member of BTS. Other celebrities, including Lee Soogeun and Ha Sungwoon, are also said to have suffered financial losses.

Regarding this, Mr. A argued, "Even if Lee Jinho returns an equivalent amount to the victims, if there was no written loan agreement, gift tax must be paid." He further claimed, "Since Lee Jinho is at risk of being sued for fraud and illegal gambling, it is unlikely that he will be able to compensate the victims in the near future."

According to the current Inheritance and Gift Tax Act, the recipient of a gift is generally responsible for paying the gift tax. However, if the recipient is unable to pay and the authorities are unable to secure tax claims, the giver may also be held jointly liable for the gift tax.

However, it remains uncertain whether the other celebrities who lent money to Lee Jinho would actually be subject to gift tax as Mr. A claims. For gift tax to be imposed, the transfer of assets must be gratuitous. In other words, if the lent money is being repaid, if interest is being paid, or if a written loan agreement was made promising repayment, it may not be considered a gift.

In this regard, Jimin's agency, Big Hit Music, clarified to multiple media outlets on the same day, "The reports of financial damage in the media are true," but added, "(Jimin) lent the money with a written loan agreement."

Meanwhile, Lee Jinho debuted in 2005 on the SBS comedy program "Utchatsa." He has since become known to the public through appearances on various comedy and entertainment shows such as tvN's Comedy Big League and JTBC's Knowing Bros. He was scheduled to attend the press conference for the soon-to-be-released Netflix show "Comedy Revenge," but reportedly did not attend after posting his apology.

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