Yoo Yeon-seok is on the list of South Korean artists who are currently entangled in a tax dispute. The South Korean actor from When the Phone Rings received a tax bill of around 7 billion won. The figure is believed to be the largest tax bill ever imposed on a South Korean celebrity.
KingKong by Starship Entertainment as the actor's agency immediately responded to the news by stating that there was no tax evasion committed by the Hospital Playlist actor. The agency also explained that the tax amount was the result of differences "in how the tax representative (Yoo Yeon-seok) and the tax authorities interpreted and applied tax laws."
"This income tax assessment has not been officially ratified or notified, and we are planning to actively clarify points of contention regarding the interpretation and application of the law through appropriate legal procedures." As reported by the Korea Herald on Tuesday March 18, 2025, it is not only Yoo Yeon-seok who is facing scrutiny over tax issues.
In February 2025, actress Lee Honey, who is famous for her roles in Knight Flower and Extreme Job, was also subject to a tax fine of 6 billion won. Last year, actor Park Hee-soon also underwent a tax audit by the Seoul Metropolitan Tax Office, which resulted in an additional tax bill of around 800 million won.
The three celebrities each run their own companies despite being connected to other agencies. Park Hee-soon, Lee Honey, and Yoo Yeon-seok serve as CEOs of Twopark Playground, Hanee, and Forever Entertainment.
Under Korean law, corporations are typically taxed at a low rate with a higher threshold for taxable income, making the corporate structure more advantageous for tax purposes. Meanwhile, costs related to vehicle maintenance, upkeep, and other business operations can be deducted as business expenses, effectively reducing the owner's taxable income.
The reported artists argued that the dispute stemmed from differences in views on tax law, not planned tax avoidance. However, the public has become increasingly critical as suspicions mount of high-profile names allegedly deliberately evading billions of dollars in taxes.
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