Overview

• The National Tax Service has opened a targeted investigation into 49 foreign nationals suspected of evading acquisition and ownership taxes on high-end apartments.
• Those under scrutiny collectively own 230 units concentrated in Gangnam, Seocho and Songpa districts, with some properties valued at over 10 billion won apiece.
• The probe has uncovered 16 cases of illicit gift transfers, 20 instances of undeclared income funding and 13 examples of unreported rental revenue.
• Authorities estimate the total tax shortfall from these evasion schemes to be between 200 billion and 300 billion won.
• Investigators are deploying forensic financial tracking and coordinating with overseas tax agencies to trace cross-border fund transfers.