Actor Jo Jin Woong is the latest celebrity to be hit with a huge tax penalty.
On March 22, reports confirmed that the Gangnam Tax Office in Seoul had conducted a tax audit on Jo Jin Woong and ordered him to pay an additional 1.1 billion KRW in taxes.
Like actors Yoo Yeon Seok and Lee Ha Nee, who were previously caught up in similar cases, Jo Jin Woong had set up a personal corporation and filed his earnings as corporate revenue instead of personal income.
The National Tax Service (NTS) flagged this as an issue and proceeded with an investigation.
Since corporate tax rates go up to 24% while personal income tax rates can reach 45%, the NTS viewed this method as a possible way to reduce tax payments.
Regarding this, Jo Jin Woong’s agency, Saram Entertainment, responded, “Jo Jin Woong respects the tax authorities’ decision and has already paid the full amount.”
The agency explained further, “This happened due to a difference in interpretation between tax officials and Jo Jin Woong’s tax representatives. The corporation had followed standard tax procedures, but the authorities decided that additional income tax should be imposed.”
However, Jo Jin Woong’s side is not letting this go without a fight. They revealed, “The tax office’s stance differs from previous tax practices, and this issue remains controversial among experts. To seek a legal judgment, we have officially filed an appeal with the Tax Tribunal, and it is currently under review.”
They also added, “As a responsible citizen, Jo Jin Woong has always done his best to fulfill his tax duties. He will continue to follow all legal procedures properly and take full responsibility.”
Meanwhile, Jo Jin Woong is not the only celebrity facing tax issues. Recently, actors like Yoo Yeon Seok, Lee Ha Nee, and Lee Joon Gi were also caught in similar tax disputes, sparking public debate over tax filing practices in the entertainment industry.
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