MeloMance's Kim Min Seok Reveals That His Parents Still Manage His Finances, Discloses Monthly Allowance on TV
On the evening of the 25th, MeloMance's Kim Min-seok appeared as a guest on the MBC entertainment program "Master in the House" and revealed his monthly allowance.
Kim Min-seok, a chart-topping artist, appeared on the set and sang his hit songs "Love is Gone" and "Gift," captivating the panelists with his sweet voice.
After listening to the live performance, panelist Yang Se-hyung asked, "I heard that 'Love is Gone' has surpassed 100 million streams recently. It's even a self-composed song, so the copyright fee must be significant."
To this, Kim Min-seok replied, "My parents manage my income. I receive an allowance of around 5 million won (approximately $4,400 USD) per month."
When asked about his copyright fees, Kim Min-seok shocked everyone by revealing, "At the time when the copyright fees didn't come in much, I received three times my monthly allowance, around 15 million won (approximately $13,200 USD)."
Yoo Yeon Seok Caught in 7 Billion KRW Tax Controversy? His Agency Speaks Up and Says It's Just a MISUNDERSTANDING
Actor Yoo Yeon Seok has found himself in the middle of a tax controversy, but his agency is shutting down the claims.
On March 14, Yoo Yeon Seok’s agency, King Kong by Starship, addressed the reports about his alleged tax evasion.
They stated, "This matter stems from differences in the interpretation and application of tax laws between our tax representative and the tax authorities. We are currently awaiting the tax authorities’ notification after undergoing a preliminary tax review."
The agency also emphasized that "this is not a finalized or officially notified matter at this stage, and we plan to actively clarify the relevant issues through proper legal procedures."
Earlier, CBS No Cut News reported that Yoo Yeon Seok was audited by the National Tax Service while establishing his entertainment agency, Forever Entertainment. The report claimed that he was hit with an additional tax charge of 7 billion KRW.
However, King Kong by Starship explained, "This issue arose because Yoo Yeon Seok developed and produced YouTube content as part of his entertainment career while also running a company for other business ventures, including the food and beverage industry."
They added, "The tax authorities interpreted the company’s income from the past five years as personal income rather than corporate income. As a result, despite reporting the income under corporate tax, personal income tax was imposed."
The agency stressed that Yoo Yeon Seok has always been committed to paying his taxes properly. "He has always prioritized fulfilling his tax obligations faithfully and will continue to do so as a responsible citizen by strictly following all relevant laws and procedures."
Meanwhile, Yoo Yeon Seok is set to return to the small screen with his upcoming SBS drama Shin-i & Law Office! Stay tuned for more updates!
