Tax Arrears of 5.1 Billion Won Leads to Property Seizure... Lim Young-woong's Side Says "Notice Omission Was a Mistake, All Paid"

Lim Youngwoong's Residence Seized Last Year Due to Unpaid Taxes
Agency: "All Taxes Paid After Awareness, Will Be More Careful in the Future"

Singer Lim Young-woong's residence in Mapo-gu, Seoul, was seized due to unpaid local taxes but the seizure was later lifted, a fact that was revealed belatedly. His agency immediately clarified that the tax delinquency was not intentional. On the 26th, Lim Young-woong's agency, Mulgogi Music, stated, "We learned late last year that local taxes were unpaid and have since paid them all," adding, "The seizure has now been lifted."

Singer Lim Young-woong's residence in Mapo-gu, Seoul, was seized due to local tax arrears but was later released, a fact that was revealed belatedly. The agency immediately clarified that the tax delinquency was not intentional. Lim Young-woong Instagram

According to the agency, Lim Young-woong failed to pay the local taxes because he did not receive the tax notice. The mailbox at Mecenatpolis is located on the third floor, not at the entrance on the basement or first floor, so the mailbox was not checked for a certain period. The agency said, "After recognizing this fact earlier this year, we immediately paid the taxes, and the seizure has also been lifted. We deeply apologize for this incident caused by our lack of careful attention."

Previously, on October 16 last year, the Mapo-gu Office seized the penthouse of the mixed-use apartment Mecenatpolis located in Mapo-gu, owned by Lim Young-woong, but the seizure was canceled on January 13, three months later. This residence was purchased by Lim Young-woong in September 2022 for about 5.1 billion KRW. Considering the period including the local government's delinquency notice and seizure notice, it is speculated that it took about a year until the seizure cancellation, leading to criticism regarding the tax delinquency.

Meanwhile, Lim Young-woong's annual income is approximately 20 billion KRW as of 2023. According to Mulgogi Music's audit report for that year, Lim Young-woong's income was 19.2 billion KRW. Including unpaid settlements and dividends, it is estimated to be 23.5 billion KRW. Lim Young-woong is the largest shareholder of Mulgogi Music.