Tax Agencies Seize 1.3 Billion Won from Delinquent Taxpayers

South Korea’s National Tax Service and Korea Customs Service conducted their first joint searches targeting 16 hour-value and persistent tax delinquents. The authorities seized approximately 1.3 billion won in concealed assets, including cash, checks and luxury goods, and secured a commitment for an additional 15 million won in installment payments.

The operation focused on individuals who owed both national and customs taxes despite having the apparent ability to pay. Eight targets were selected by regional tax offices, while another eight were identified by the Seoul and Busan customs offices.

The two agencies exchanged information on the taxpayers’ assets, living conditions and actual residences before forming eight joint search teams of around 10 officers each. Local tax offices and customs authorities then analyzed the data and determined the locations to be searched.

In one case, officers found 540 million won in cash and 480 million won in checks hidden inside a suitcase belonging to a taxpayer who allegedly continued operating a business under a family member’s name. In another case, officials seized luxury bags, watches and bracelets, along with 15 loan certificates worth a combined 500 million won, and began collection procedures against the related claims.

A seperate serach of an apartment occupied by a taxpayer’s former spouse uncovered 90 million won in cash, premium liquor, jewelry and luxury accessories. The joint operation marked the first time the two agencies shared delinquency data and carried out coordinated field searches, although the final amount recovered will depend on the disposal of seized property and subsequent collection proceedings.