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Latest News

A person holds bundles of dollars at Hana Bank in central Seoul on Aug. 5.

Koreans’ overseas financial assets top 111 trillion won as stocks hit records

Reported overseas holdings rose as stock valuations climbed, with the United States and India accounting for the largest totals.

2026.9.2

Tax revenue up $6.1 billion in July

The Ministry of Finance and Economy attributed the increase to higher collections of income and securities transaction taxes.

2026.8.31

Audit finds that Incheon Regional Tax Office mishandled more than $37 million in taxes

The Board of Audit and Inspection of Korea uncovered 30 cases of unlawful or improper practices involving 52.1 billion won ($37.6 million) in taxes, for which authorities then had to collect an additional 50 billion won and refund 2.1 billion won.

2026.8.25

Actor Yoo Yeon-seok poses for photograph during an event to promote SBS drama 'Phantom Lawyer' held in western Seoul on March 11.

Tax tribunal rejects Yoo Yeon-seok's appeal over back tax assessment

The actor’s agency said the tax bill stemmed from different interpretations of tax law, noting that he paid the 3 billion won ($2.1 million) he was assessed to owe.

2026.8.5

NTS uncovers 73.1 billion won in real estate tax evasion

Korea’s tax agency uncovered tens of billions of won in unpaid real estate taxes through sham sales, hidden corporate funds and undisclosed gifts.

2026.7.8

Actor Lee Yi-kyung listens to a reporter's question at a press conference in Yongsan District, central Seoul, on Jan. 15, 2025. [YONHAP]

Actor Lee Yi-kyung is latest celebrity ordered to pay additional taxes after using independent agency

Actor Lee Yi-kyung has been ordered to pay additional taxes following a tax audit of an independent agency, according to reports Wednesday.

2026.5.13

President Lee Jae Myung enters the room at the Blue House in central Seoul to meet with DeepMind CEO Demis Hassabis on April 27. [JOINT PRESS CORPS]

Lee touts NTS's hunt for hidden overseas assets, describes 'tax justice' as 'very important value'

President Lee Jae Myung on Tuesday touted the tax office's ongoing search for hidden overseas assets. “Tax justice is a very important value,” Lee wrote on his X account at 12:57 a.m. on Tuesday.

2026.4.28

Singer and actor Cha Eun-woo is seen during a press conference for the Tving original drama ″Island″ (2022-23) at the Conrad Seoul hotel in Yeouido, western Seoul, on Dec. 22, 2022. [YONHAP]

Civic group files complaint against tax official, reporter over actor Cha Eun-woo controversy

A civic group filed a criminal complaint against a tax official and reporter over the alleged leak of tax audit information involving singer and actor Cha Eun-woo.

2026.2.10

Ahn Deok-su, the director of the National Tax Service's (NTS) Investigation Bureau, gives a briefing on the NTS's crackdown plans at the government complex in Sejong on Jan. 27. [YONHAP]

NTS investigates 17 daily necessities companies for alleged price hikes, tax evasion

Companies that unjustifiably hiked prices on essential goods to reap excessive profits and evade taxes are now under investigation by the National Tax Service (NTS).

2026.1.27

National Tax Service Commissioner Lim Kwang-hyun delivers opening remarks during the 2025 second-half national tax office heads meeting at the agency's main auditorium in the Government Complex Sejong on Nov. 3. [YONHAP]

NTS probing Cambodia's Prince Group for tax violations

The National Tax Service (NTS) has launched a tax probe into the Korean office of Prince Group, a Cambodian business conglomerate suspected of being behind a major scam operation.

2025.11.3

Tag: nts

nts

Latest News

Koreans’ overseas financial assets top 111 trillion won as stocks hit records

Tax revenue up $6.1 billion in July

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