Korean actor Lee Byung-hun fined RM343,000 after tax audit

It's reported that the actor bought a building in Seoul in 2018 using individual and corporate funds. Photo: Lee Byung-hun/Instagram

South Korean actor Lee Byung-hun has been fined 100 million Korean won (RM342,994) after a special tax audit by the National Tax Service.

According to the government agency, it conducted an irregular tax audit against Lee, 52, and his management agency BH Entertainment in September 2022.

After the news broke on Tuesday (Feb 28), BH Entertainment, which Lee founded in 2006, released a statement: “Lee has never had a single tax-related incident over the past 30 years.”

An irregular tax audit is unlike a normal tax investigation and is initiated when an individual or corporation is suspected of tax evasion.

In its statement, BH Entertainment said: “It is true that the tax was collected by the National Tax Service, but it is not a problem of tax evasion.”

It added: “We paid bonuses to all employees with personal money, but accounting for the part that was treated as company expenses was a problem, and some of the model fees were set aside for donation, which became the subject of additional surcharges.”

Lee, who was last seen in K-drama Our Blues (2022) and blockbuster film Emergency Declaration (2021), is also known internationally for playing Front Man in the hit series Squid Game (2021).

According to South Korean news portal Korea Joongang Daily, he bought a 10-storey building in Yeongdeungpo District in Seoul in 2018 using individual and corporate funds. He reportedly sold it in 2021 for a profit of 10 billion won.

BH Entertainment said the property sale and the tax investigation were unrelated. – The Straits Times/Asia News Network