National Tax Service Administrator Lim Gwang-hyeon said tax audits are coming for high-net-worth individuals who privately use supercars registered under corporate names.
On the 25th, Administrator Lim said on social media (SNS), "The National Tax Service is thoroughly analyzing and verifying the acquisition, operation, and expense processing records of high-priced corporate vehicles, and if suspicions of private diversion by owner families are confirmed, we will strictly conduct tax audits."
Lim stressed that this conduct is more than a matter of moral hazard. "Buying a supercar under a corporate name and using it privately while treating it as a corporate expense is not merely a moral issue but a clear act of tax evasion," Lim said, adding, "In major countries such as the United States and the United Kingdom, even using a company car for commuting is considered private use and taxed, and management is very strict."
This is not the first time the government has taken issue with it. In 2020, a large-scale tax audit was carried out, and a system was introduced mandating light green license plates for corporate vehicles priced at 80 million won or more. Paradoxically, however, the light green plates themselves have been perceived as a kind of status symbol, and purchases of high-priced cars under corporate names are again on the rise. Newly registered corporate vehicles priced at 100 million won or more fell to 33,960 in 2024, then rebounded to 39,429 in 2025.
Administrator Lim said, "People may have wondered, seeing ultra-high-end sports cars with light green plates parked at golf courses or resorts on weekends, 'Are those cars really for business use?'" Lim added, "Some asset holders have bought supercars worth hundreds of millions of won under company names and then used them privately for family outings, golf, and visits to entertainment venues, treating them as corporate expenses to evade taxes."
Administrator Lim said, "We have confirmed that past practices have not been completely corrected, such as purchasing ultra-high-end limited-edition supercars costing tens of billions of won each with corporate funds or buying dozens of high-priced vehicles under corporate names and having owner families use them privately."
Lim went on, "Abnormal behavior by owner families, such as private use of corporate vehicles, is not a mere aberration but an important signal of tax evasion risk across corporations," adding, "It must be eradicated not only to realize taxes justice but also to normalize what is abnormal."