Cha Eun Woo has been in the spotlight for alleged tax evasion. After the True Beauty star spoke out, his management, Fantagio, has now issued an official statement. Fantagio opened its statement with an apology for the uproar.
They then stated that Cha Eun Woo's tax issues are currently in the data verification stage. Furthermore, management also promised that Cha Eun Woo would cooperate with all necessary procedures, even though the ASTRO member is currently serving his mandatory military service.
"The issue being raised is currently in the fact-verification stage in accordance with tax authority procedures, and both the agency and the artist are fully cooperating with the investigation to the extent required by each party.
If and when legal and administrative decisions become clear in the future, we will take responsibility for implementing the necessary measures according to the results," they said. This statement echoes what Cha Eun Woo has said directly.
He also spoke directly about the much-discussed issue on his personal Instagram account. Fantagio then addressed their internal systems. Management promised to make improvements to prevent similar issues from happening again in the future, whether to Cha Eun Woo or any other artist.
"In light of this incident, we will once again review our artist management system and supplement and strengthen the necessary systems, doing our best to ensure that similar controversies do not recur in the future," Fantagio concluded.
Cha Eun Woo was reportedly investigated by the Seoul Regional Tax Office's Bureau of Investigation 4 last year. He is currently suspected of evading income tax and other taxes totaling 20 billion won. The National Tax Service suspects fraudulent activity by Cha Eun Woo.
This is related to the establishment of a separate family agency, Fantagio, which continues to manage Cha Eun Woo's work. This second agency, let's call it Management A, was founded by Cha Eun Woo's mother. The National Tax Service suspects the company was established as a tax cut.
It also suspects that funds were being channeled to Fantagio, in the form of revenue sharing, from the proceeds generated through the Management A contract. The National Tax Service reported Management A as a fictitious company. This family agency was deemed to have provided no substantive services.
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