Delayed Disclosure of Tax Tribunal Appeal Decision
Allegations of Free International School Tuition for Children and Free Apartment in Bundang
Yoon Kwan, CEO of Blue Run Ventures (BRV) and son-in-law of the late Koo Bon-moo, former chairman of LG Group, was recently revealed to have provided substantial financial support over 10 years to an acquaintance in South Korea. One media outlet reported that this acquaintance is the wife of a famous celebrity.
Yoon Kwan, CEO of Blue Run Ventures (BRV) and son-in-law of the late LG Group Chairman Koo Bon-moo [Photo by Yonhap News]
On the 14th, The Fact reported that CEO Yoon maintained a close relationship with a celebrity’s wife, referred to as Ms. A, for about 10 years, during which he financially supported her, including covering the international school tuition fees for her children and living expenses. The total amount of support is said to have reached 1 billion KRW.
This information emerged from a tax tribunal decision document filed by CEO Yoon in appeal against additional comprehensive income tax assessments. The document, made public at the end of 2022, stated, "The petitioner (CEO Yoon) maintained a private relationship with an acquaintance in Korea from around 2010 to 2019, during which he supported the acquaintance and her children with tuition and living expenses and allowed them to use an apartment rent-free." The document also included records of tuition payments sent by Yoon to an international school in Jeju, with the initials of the recipient matching the name of Ms. A’s child during 2018-2019, according to the media. The annual tuition fee per student at the school is known to be between 30 million and 50 million KRW.
Additionally, allegations surfaced that CEO Yoon provided Ms. A with an apartment in Bundang-gu, Seongnam-si, Gyeonggi Province, free of charge. This was partially mentioned in the tax tribunal decision as well. Yoon purchased the apartment through Mark Eleven Company, which he effectively controls, and provided it to Ms. A without charge. However, it is reported that Ms. A currently neither resides in nor uses the apartment.
CEO Yoon is the husband of Koo Yeon-kyung, CEO of the LG Welfare Foundation and sister of Koo Kwang-mo, chairman of LG Group. After the tax tribunal’s dismissal, Yoon filed an appeal lawsuit with the Seoul Administrative Court in March last year. Holding U.S. citizenship, Yoon is suspected of tax evasion involving approximately 12.3 billion KRW related to comprehensive income tax payments, and during recent court proceedings, allegations of nationality forgery have also arisen. He acquired Guatemalan nationality in 2004 before obtaining U.S. citizenship.
Following the disclosure of these facts, speculation about Ms. A’s identity has been rampant online. At one point, some netizens speculated that Ms. A might be the wife of actor Jo Han-sun, but Jo’s side stated, "This is not true. There is no relation whatsoever."
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