On the 10th, his agency, King Kong by Starship, announced, "Through proper legal procedures and active clarification, we were able to have the double taxation recognized through a pre-assessment review. The reassessed tax amount, excluding already paid corporate and value-added taxes, resulted in Yoo Yeon-seok paying around 3 billion won, which has been fully settled."
The agency further explained, "Since 2015, Yoo Yeon-seok has been developing and producing YouTube content as an extension of his entertainment activities. He established a corporation for additional business ventures and the food service industry. The issue arose when these activities were taxed as personal income rather than corporate tax, leading to comprehensive income tax being imposed. We are currently preparing for tax appeals and legal procedures regarding the interpretation and application of the law."
They emphasized, "This tax issue is not about tax evasion or avoidance but stems from differences in the interpretation and application of tax laws. Yoo Yeon-seok has always prioritized fulfilling his tax obligations diligently and will continue to adhere strictly to relevant laws and procedures as a responsible citizen."
Previously, the National Tax Service conducted a thorough tax investigation on Yoo Yeon-seok, resulting in a tax imposition of about 7 billion won, including income tax. Yoo Yeon-seok had established an entertainment agency, 'Forever Entertainment,' where the tax authorities identified potential tax issues, prompting the investigation. Yoo Yeon-seok contested the tax notice and requested a pre-assessment review, actively seeking to correct the imposed tax amount.
(SBS Entertainment News | Kang Sun-ae)