On April 19th, Korean media reported actress Kim Ji-won’s purchase of a 6.3-billion-won building in Gangnam, Seoul, through a company called Jiwon Entertainment, where she is listed as the in-house CEO.
This transaction has sparked allegations that Kim Ji-won utilized a paper company to obtain a business loan and potentially evade taxes, a practice that has drawn criticism from the entertainment industry.
The timing of the purchase, occurring exactly five years after the establishment of Jiwon Entertainment in March 2016, aligns conveniently with tax exemption regulations. Companies are eligible for tax exemptions when purchasing real estate five years after their establishment, leading to suspicions of tax evasion directed towards Kim Ji-won.
In response to the growing controversy, Kim Ji-won’s agency, High Zium Studio, released a brief statement indicating difficulty in addressing matters concerning the artist’s personal life.
This response has further fueled frustration among netizens, who express disappointment and skepticism towards celebrity financial practices.
Despite the backlash, Kim Ji-won continues to gain popularity for her role in tvN’s weekend drama “Queen of Tears”. The situation highlights ongoing discussions surrounding financial transparency and tax responsibilities in the entertainment industry, prompting broader conversations about celebrity investments and real estate practices.
