President Lee Jae-myung on Wednesday emphasized that "illegal real estate speculation and tax evasion can no longer be tolerated."
The president made the remarks on X, formerly Twitter, while sharing an article on the number of real estate tax evasion reports received. The article reported that 780 tax evasion tips had been submitted to the National Tax Service's "Real Estate Tax Evasion Reporting Center" between its establishment in November last year and the end of March this year. Of those, 80% came from the Seoul metropolitan area, including Seoul, Gyeonggi Province, and Incheon, according to the article.
"We will surely escape the ruinous republic of unearned real estate income," Lee said.
The Real Estate Tax Evasion Reporting Center was established to detect tax avoidance practices such as illicit gifting, holding property under borrowed names, drafting underreported or overreported sales contracts, and entering into fictitious transactions. The National Tax Service, judging that its own investigations have limits, is actively utilizing public tips and pays substantial rewards to informants whose reports play a decisive role in proving tax evasion.
