Cho Jin Woong, Renowned Actor, Settles 1.1 Billion KRW in Extra Taxes for Earnings from His Private Firm
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On March 22, Saram Entertainment confirmed that actor Cho Jin Woong paid a tax penalty of 1.1 billion KRW (~ $750,000 USD) following a regular audit. The issue arose from differing interpretations of earnings from a company owned by Cho Jin Woong. Although he initially classified these earnings as corporate tax and paid the required taxes, further examination by tax authorities revealed the need for additional income taxes.

Saram Entertainment assured that Cho Jin Woong promptly settled the full amount of the taxes as instructed by the authorities. He has since requested a legal review of the assessment, which is currently in progress. Similar cases involving other celebrities, such as actor Yoo Yeon Seok and actress Honey Lee, who were also penalized for unpaid taxes related to their personal companies, are currently being reviewed.

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