A recent broadcast of Straight has revealed that actress Honey Lee operates her personal corporation from an unexpected location — a gomtang restaurant in Seoul.
During its March 8 episode, the investigative program from Munhwa Broadcasting Corporation visited a restaurant in Hannam-dong, Yongsan District. While it appears to be a typical dining establishment, corporate records show the address is registered as a branch office of Honey Lee’s personal company, Hope Project.
However, the broadcast noted that no management office or entertainment-related workspace could be found anywhere in the building.
Hope Project was established in 2015. According to corporate documents, Honey Lee’s husband, identified as Mr. Jang, serves as the company’s CEO, while the actress herself holds the position of internal director.
The company later expanded its assets by purchasing the building where the restaurant operates.
In November 2017, Hope Project purchased the building for approximately 6.45 billion KRW.
Property registry documents list the maximum secured debt at 4.2 billion KRW. Since this figure is usually set at about 120% of the actual loan amount, the real loan is estimated to be around 3.5 billion KRW, meaning more than half of the purchase price was financed through borrowing.
Over the past several years, the value of the property has reportedly increased significantly.
Based on nearby land transaction prices, the building is now estimated to be worth between 10 billion and 15 billion KRW, with some estimates placing its market value above 12 billion KRW.
This suggests the investment has generated substantial capital gains over an eight-year period.
The report also sparked debate about the advantages celebrities may receive when managing their income through personal corporations.
Unlike individuals, corporations often have higher loan-to-value ratios (LTV), sometimes reaching around 80%, while individuals typically receive 60–70%. Corporations can also treat loan interest, building maintenance, and other expenses as business costs.
Additionally, capital gains taxes applied to corporations can be lower than personal tax rates, leading some observers to speculate whether such corporate structures are used strategically for property investment.
Hope Project reportedly declined to provide an official statement regarding the report.
However, Honey Lee’s agency explained that the building was initially intended to serve as the company’s headquarters and a multi-purpose cultural arts space. They added that delays in the property transfer process allowed the existing tenant to continue operating the restaurant.
Critics pointed out that the official ownership transfer was completed in 2020, raising questions about why the property has remained a restaurant for several years afterward.
The broadcast also revisited a previous tax issue involving Honey Lee.
In 2022, the Seoul Regional Tax Office conducted a non-regular tax audit and reportedly imposed about 6 billion KRW in additional taxes on the actress and her company.
Such non-regular audits typically occur when authorities suspect potential tax irregularities.
Honey Lee’s agency stated that although the additional tax was fully paid, the actress disagrees with the tax authority’s interpretation and has filed an appeal with the Tax Tribunal to contest the decision.
The renewed attention from the investigative report has reignited public discussion about how Korean celebrities operate one-person agencies and manage their corporate finances.
Sources: 네이트 뉴스
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