She purchased a building under a one-person company.
It was previously reported that actress Kim Ji Won had made a purchase of a multi-million dollar building in Gangnam. The building was bought for ₩6.30 billion KRW (about $4.57 million USD) in 2021, and boasts a prime location near Gangnam-gu Office Station. It 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.
Netizens quickly pieced the timeline together, accusing her of purposely planning to evade taxes. As many individuals set up paper companies to try to make use of real estate tax waivers for commercial use, a law was put in place. Companies are only exempted from this tax 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.
- 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 Marc
h 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.
With the uncanny timing, netizens have accused her of purposely planning to evade this real estate tax.
Kim Ji Won’s management company has yet to respond to claims.
- Huh, isn’t Kim Jiwon under High Zium?
- Feels like a paper company to avoid taxes.
- Huh, seems it’s true that celebrities really earn a lot.
- No, but she bought it under the name of her own one-man company LOL. And it’s currently being used. Seems like most people think that if it is purchased commercially, it is for investment purposes.
- She’s rich.
- She bought it commercially, but people are like “I’m jealous” LOL.
- Buildings are the best.
Although Kim Ji Won purchased it through a company set up for herself, by herself, many seem to be willing to overlook it compared to other celebrity cases. Most of the time, celebrities are called out for participating in speculation or futures investment. In Kim Ji Won’s case, although she made the purchase through a paper company, the building is currently being used by renters and her own company. Still, others criticize her for making the commercial purchase.
There are many cases of celebrities creating paper companies for real estate investments. Previously, SEVENTEEN’s DK received criticism for doing the same.
