“Is Kim Ji Won’s real estate investment a strategic move to evade taxes?” This question has been buzzing around the internet, causing a stir among netizens.
Actress Kim Ji Won, known for her hardworking image and a career spanning nearly 14 years, recently made headlines for her real estate investment. She purchased a building in Gangnam for ₩6.30 billion KRW (about $4.57 million USD) in 2021. The building, boasting a prime location near Gangnam-gu Office Station, has one basement and five above-ground floors.
Netizens found things suspicious, and looked up the purchase. It was found that she had made the purchase through “Jiwon Entertainment Co, Ltd,” a company where she is the representative and only worker. Netizens were quick to accuse her of setting up a paper company to make the purchase.
Netizens soon found “evidence” to back up their claims. A look at the company’s business registration shows that Kim Ji Won set up the company in March 2016. She is listed as the representative of Jiwon Entertainment. The registered address for the company is the 4th and 5th floors of her building.
Kim Ji Won’s company registration. | theqoo
Companies can be exempted from real estate tax waivers for commercial use if they make their purchase five years after the company was set up. Netizens found that Kim Ji Won set up Jiwon Entertainment in March 2016, and made her building purchase five years later in June 2021, leading to suspicions of tax evasion.
On April 19, 2024, her agency High Zium Studio responded to the controversy, stating that “it is hard to confirm as this is the artist’s personal matters.” This statement has not sat well with netizens, who have been critical of the star.
Netizens have voiced their opinions on the matter, with comments ranging from criticism of celebrities investing in real estate to questioning the intentions behind setting up a paper company. Some have compared her case to Hyeri’s, while others have defended her, attributing the backlash to jealousy.
Netizen comments. | theqoo
Wow, this totally shatters my image of her.
Jiwon.. I didn’t know you were like this.
Anyway, all her maids will voluntarily shield her.
It’s a paper company. All celebrities are like that anyway.
IDK why people are kicking up a fuss. She’s buying a building because she has the money to.
Reading the comments, it sounds like a joke that people are excusing her because the building is being used now. She’s just using the address only for her company. If she’s the only worker, then the offices must be empty.
It’s true that she set up the company in March 2016. If she bought the building after five years of setting up a company, then she wouldn’t get taxed. She bought it in June 2021. Kim Ji Won has a management company, but made a company under her own name in advance, and only bought the building when she could be excused from tax. Seems like everyone can see through this, and are talking about it.
Kim Ji Won, who made her debut through High Kick Through The Roof 3 and gained popularity as BIG BANG’s CF partner for Lollipop phones, now finds her image under scrutiny due to this controversy. As the story unfolds, it remains to be seen how this will impact her career and public image.
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