[Alpha Biz= Kim Jisun] SEOUL, April 12, 2026 — National Tax Service of Korea (NTS) will conduct a comprehensive review of high-value homes owned by corporations, targeting potential tax evasion linked to non-business real estate use, including cases where controlling families reside in such properties rent-free.

NTS Commissioner Lim Kwang-hyun said via social media on April 12 that the agency will “verify corporate-owned residential properties classified as non-business assets.”

According to the NTS, as of last year, approximately 1,600 corporations owned a total of 2,630 high-value homes exceeding the national housing size standard and with an officially assessed value above 900 million won. The combined assessed value of these properties is estimated at 5.4 trillion won, with an average value of around 2 billion won per home. About 100 properties exceed 5 billion won, including ultra-luxury homes valued above 10 billion won.

Lim noted that if owner families are residing in homes held under corporate ownership, such cases would typically be considered non-business real estate. “We will examine whether properties claimed as employee housing are in fact being used by controlling shareholders, or whether they are being held for speculative purposes while reported as business-use assets,” he said.

He added that while employee housing and rental properties are generally acceptable, tax liabilities may arise if owner families reside in such homes without proper taxation. “The use of corporate funds for private purposes instead of productive investment is a serious issue,” Lim emphasized.

The NTS plans to begin with a full review of the 2,630 identified properties and may expand the scope of its investigation if necessary. If evidence of tax evasion is found, cases will be escalated to formal tax audits, with additional tax assessments imposed.

The agency also indicated that it may extend inspections to other forms of non-business real estate, including land held under corporate ownership.

 

 

 

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