Im Kwang-hyun, the Commissioner of the National Tax Service, emphasized on the 25th that purchasing supercars under a corporate name and using them privately while processing the expenses as corporate costs is not merely a moral issue but a clear act of tax evasion. Through his social media, Commissioner Im expressed that the practice of using high-priced vehicles purchased with corporate funds for private use by company executives and their families must be eradicated both for the realization of tax justice and the normalization of abnormal practices.
Commissioner Im noted that some wealthy individuals have been buying supercars worth billions of won under their company’s name and using them privately for outings, golf, and visits to entertainment venues, while expensing these costs to evade taxes. He criticized that running such luxury cars with corporate funds instead of personal money is essentially forcing the state, and thus taxpayers, to shoulder part of the cost.
The National Tax Service initiated a large-scale tax investigation in 2020 to address these evasive practices, resulting in heightened social awareness. A policy was also introduced to use ‘light green license plates’ for corporate vehicles valued at over 80 million won, which initially led to a temporary decrease in registrations of high-priced corporate vehicles. However, Commissioner Im pointed out that recently, possessing light green plates has been perceived as a symbol of wealth, leading to a resurgence in the purchase of expensive corporate vehicles.
According to the Ministry of Land, Infrastructure and Transport, the number of newly registered vehicles worth over 100 million won under corporate names increased from 39,429 in 2025 after dropping to 33,960 in 2024, following an initial rise to 51,542 in 2023. Commissioner Im announced plans for rigorous verification of the private misuse of corporate vehicles, stressing that such abnormal practices by company owners are not just isolated deviations but crucial indicators of tax evasion risks within businesses. The Tax Office is currently analyzing and verifying the acquisition, operation, and expense processing details of high-priced corporate vehicles. Serious tax investigations will be conducted if evidence of private misuse by company executives and their families is confirmed.