Actor Kim Seon-ho denies alleged tax evasion

SEOUL, February 2 (AJP) - Actor Kim Seon-ho has denied allegations of tax evasion after claims that he set up a corporation with family members as executives, paid fabricated wages, and used a corporate credit card for personal expenses.

In a press statement through his management agency Fantagio on Sunday, the actor said he is fully complying with all required legal and tax procedures.

The allegations come amid his regaining popularity recently with his Netflix hit series "Can This Love Be Translated?" after a break he took several years ago due to a controversy involving his ex-girlfriend.

But Kim explained that the family-run company was established for his theater-related activities with no intention of "tax reduction or tax evasion." Since the business has been inactive for about a year, he is now closing it in accordance with relevant regulations.

He then vowed to continue complying with all relevant laws and procedures so he can continue his work without "unnecessary misunderstandings.

Separately, it was previously revealed that singer-turned-actor Cha Eun-woo, who also belongs to the same agency, allegedly evaded taxes worth 20 billion won (US$13.6 million) by diverting taxable earnings through a company established by his mother, which reportedly had little to no actual business activity.

Fantagio said it is cooperating with an investigation by tax authorities and will take necessary action.