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King the Land star Lee Junho undergoes ‘intense’ investigation for possible tax evasion; report
South Korean tax office has investigated singer and actor Lee Junho for a possible tax evasion scheme involving a four-storey commercial building. Read more below.
Lee Junho, a member of K-pop idol boy group 2PM, and famed actor for his roles in dramas like Wok of Love and King the Land, has reportedly been investigated for tax evasion. The Seoul Regional Tax Office underwent an irregular tax investigation on the actor in September of last year and was ordered to pay additional taxes.
The property in question is said to be a commercial four-storey building, with one level of basement, in Sinsa-dong, Gangnam-gu, Seoul. As per a report in Hankook Kyungjae (or Hankyung), the story gained attention after it was revealed that the star purchased it earlier in March, under the name of his family’s business, JF Company, and was valued at a whopping 17.5 billion KRW sale amount.
A four-minute walk from the famed Apgujeong Rodeo Station, it was deemed that the purchase under the name of his family corporation was a method for 'tax reduction'. According to reports, a corporation established over 5 years ago is slated to pay 4.6% tax instead of the usual 9.4% after acquisition, with corporate tax being applied.
Lee Junho’s agency responds to reports
Reacting to the news of possible underpayment of tax, Lee Junho’s agency, JYP Entertainment clarified to Newsen, “It was not tax evasion”, and further confirmed that the additional tax has been paid in full. His label claimed that the investigation, a part of the Unified Planned Tax Investigation for Artists of Corporate Businesses, was due to a difference in opinions of the tax authorities and the tax agent. They emphasized that the actor had been compliant with the procedures, and had no intentions of unsavory practices.
Lee Junho’s profits made on his 2019 purchase of two units of The Rivers Cheongdam in Cheongdam-dong, Gangnam-gu, Seoul, were also highlighted in the reports.
Lee Junho work front
Following the massive success of his romance drama with YoonA, Lee Junho is set to appear in Cashero, as a superhero whose power lies in the amount of cash he holds. He has also confirmed a lead role in Typhoon Boss where he will take on the role of a CEO undergoing troubles during the 1979 IMF crisis in South Korea. Both projects are eyeing a 2025 release.
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