Kim Ji-won Criticized For Setting Up Paper Company To Avoid Taxes When Purchasing Gangnam Building
Korean netizens are accusing actress Kim Ji-won of purchasing a building through a paper company to avoid taxes
On April 19th, Korean media reported that Kim Ji-won purchased a 6.3-billion-won building with one basement and five floors on the ground in a prime location of Gangnam-gu, Seoul in June 2021 under the name of Jiwon Entertainment, a company where Kim Ji-won is registered as an in-house CEO.
Immediately, some people raised suspicions that the actress established a paper company to get a business loan and avoid taxes when purchasing real estate, like a lot of celebrities have done before. Kim Ji-won’s loan is estimated to take up 55% of the building purchase price.
As criticism over Kim Ji-won began to emerge, netizens looked up information about the purchase and pointed out evidence proving the suspicions. Someone found out about Jiwon Entertainment’s business registration revealing that the actress set up this company in March 2016. Kim Ji-won is named as the representative and the company’s address is registered on the 4th and 5th floor of the Gangnam building she purchased in 2021.
As a result, netizens accused the actress of planning to evade taxes when purchasing the building by establishing a paper company. In particular, companies are eligible for exemption from this tax only when they make a purchase five years after establishment. Kim Ji-won set up Jiwon Entertainment in March 2016 and purchased the building in Gangnam in June 2021, exactly five years later.
Amid growing disappointment in the actress due to this issue, her agency High Zium Studio released a short statement on the 19th. They said, “It is difficult for us to check matters related to the artist’s personal life”.
Noticing the agency’s attitude of avoiding mentions of Kim Ji-won’s real estate purchase and tax evasion suspicions, netizens in online communities expressed frustration. They commented, “Can’t celebrities get away from real estate issues? They already earn a lot of money, why do they even try to evade taxes?”, “It’s already so wrong to establish a paper company to purchase real estate. Hyeri did the same thing”, “Are there any top stars who don’t invest in this way?”, “It’s really a paper company? To avoid taxes?”, “It’s completely different from the image she has had all this time”, etc.
Meanwhile, Kim Ji-won is gaining popularity with her appearance in tvN’s popular weekend drama “Queen of Tears”.
Source: koreaboo
