Yoo Yeon-seok, Tax Reassessment Reduced from 7 Billion to 3 Billion Won... "Acknowledgment of Double Taxation"

"Approximately 3 Billion KRW in Taxes Fully Paid"

Actor Yoo Yeon-seok, who received a notice of a 7 billion KRW tax reassessment from the tax authorities and filed a pre-assessment review, had the double taxation recognized, resulting in a reduction of the reassessed tax amount.

Actor Yoo Yeon-seok. King Kong by Starship

On the 10th, Yoo Yeon-seok's agency, 'King Kong by Starship,' released a statement saying, "As a result of actively presenting evidence through proper procedures, double taxation was recognized through the pre-assessment review, and the assessed tax amount was recalculated. After deducting the corporate tax and VAT already paid, the actual tax Yoo Yeon-seok paid is about 3 billion KRW, which has been fully settled."

The agency explained that this taxation issue "arose not from the purpose of tax evasion or avoidance, but from differences in interpretation and application of tax laws."

They added, "Since 2015, Yoo Yeon-seok has developed and produced YouTube content as an extension of his entertainment activities and established a corporation for additional business and the food service industry based on this. The issue occurred because the income was regarded as subject to comprehensive personal income tax rather than corporate tax, leading to the imposition of comprehensive income tax. We are currently preparing for tax appeals and legal procedures regarding the disputes related to the interpretation and application of the law."

The agency emphasized, "As a citizen, Yoo Yeon-seok will thoroughly comply with relevant laws and procedures and fulfill his responsibilities."

Last month, CBS No Cut News reported that the National Tax Service conducted an intensive tax investigation on Yoo Yeon-seok and notified him of approximately 7 billion KRW in taxes, including income tax. Yoo Yeon-seok had established the entertainment agency 'Forever Entertainment,' where he serves as CEO, and the National Tax Service reportedly initiated the tax investigation due to suspected tax issues during this process.

In response, Yoo Yeon-seok's side stated, "This issue stems from differences in interpretation and application of tax laws between the tax representative and the tax authorities," and added, "We are currently in the stage of undergoing a pre-assessment review and awaiting notification from the tax authorities."