A new face has emerged in the recent lineup of Korean celebrities being audited and penalized for possible tax evasion. Following When The Phone Rings star Yoo Yeon Seok and Moon Lovers star Lee Joon Gi, Cho Jin Woong (Jo Jin Woong) has been notified of a hefty reassessment.
A Sports Khan exclusive reported, on March 22, 2025 (KST), that the Seoul Gangnam Tax Office conducted a tax audit on the popular K-Movie/K-Drama actor and imposed an additional tax bill of approximately ₩1.10 billion KRW (about $ 750,000 USD).
Like Yoo Yeon Seok, Cho Jin Woong had established a private corporation to report his earnings as corporate revenue and paid corporate taxes accordingly. The National Tax Service determined that, since the highest corporate tax rate is 24%, while the top personal income tax rate is 45%, this use of corporations is a potential method of tax avoidance.
In response, Cho Jin Woong’s management, Saram Entertainment, stated, “Cho Jin Woong respects the tax authorities’ decision and has promptly paid the full amount of the imposed taxes.” The actor, however, filed an appeal since.
The dispute stemmed from differences in the interpretation of whether Cho’s corporation earnings are personal income or not. The actor’s accountants and the tax authorities are in a disagreement. Cho Jin Woong’s corporate taxes were properly reported and paid according to standard tax procedures, but the authorities have decided to impose additional income tax. This ruling differs from past taxation practices, and even experts have conflicting opinions on this matter. To seek a legal judgment, we have carefully filed a petition with the Tax Tribunal, and the review process is currently ongoing.
— Saram Entertainment
The management reassured Cho Jin Woong’s fans that the actor has “always strived to fulfill his tax obligations” and that he “remains committed to adhering to all legal and procedural requirements in the future.”
Meanwhile, K-Drama fans remain disappointed—especially as Cho Jin Woong is set to lead The Second Signal, a sequel to his 2016 hit series, The Signal.
- “Song Hye Kyo, Lee Honey (Lee Ha Nee), Yoo Yeon Seok, and now Cho Jin Woong. I’ll remember these names.”
- “If celebrities are getting away with stuff like this, politicians must be doing a lot worse. But there’s not a single news article about them, huh.”
- “Just pay your damn taxes.”
- “Celebrities who didn’t set up corporations aren’t stupid. Anyone can see that’s a loophole. The honest ones didn’t take advantage of it and paid their taxes. But look at us broke peasants trying to defend these tax-evading celebrities.”
- “So basically, all these actors have been dodging massive amounts of taxes by reporting their income as corporate revenue under the guise of ‘tax-saving strategies,’ huh? How much are they making to pay off ₩1.10 billion KRW (about $ 750,000 USD) that quickly? The wealthy should pay more taxes.”
- “Good for [the tax authorities].”
- “Don’t forget Junho, Park Hee Soon, Lee Joon Gi, and Park Na Rae.”
Read more about how tax scandals affect actors:
Actor Yoo Yeon Seok’s Next K-Drama Role Slammed Amid Tax Evasion Allegation
