South Korea’s “National MC” Yoo Jae-suk is rumored to have a net worth exceeding a trillion, yet has never been implicated in tax evasion. According to “Tax Saving TV,” unlike other celebrities who find ways to save on taxes—such as listing personal expenses as business costs or employing family members—Yoo Jae-suk simply hires an accountant to organize his income and expenses, and chooses the most time-saving “estimated declaration” method to pay taxes. He has always upheld the principle of Noblesse Oblige (the higher your position, the greater your responsibility), believing that in the long run, one’s image and trustworthiness are far more valuable than money. So, if he earns 10 billion KRW (about 30.29 million MYR), he calmly pays 4.1 billion KRW (about 12.4 million MYR) in taxes—an amount that is 1.4 billion KRW (about 4.23 million MYR) higher than the 2.7 billion KRW (about 8.17 million MYR) taxed with the more complex, tax-saving bookkeeping. This amount often shocks his accountant! However, this is just an example, as Yoo Jae-suk’s annual income is well over 10 billion KRW, meaning the taxes he pays are far beyond imagination.
Yoo Jae-suk debuted in 1991 and began appearing on various shows in 1993. His resume boasts at least 60 hosting gigs, making him one of Korea’s most famous hosts. Currently, he is on six popular shows, including "Running Man," "Hangout With Yoo," "Yoo Quiz on the Block," "Excuse GO," "Whenever Available," and more. He's also a shareholder in the management company “Antenna.” In 2023, he reportedly bought land in Nonhyeon-dong, Gangnam, for nearly 20 billion KRW (about 60.56 million MYR) in cash without taking a loan, and began construction of a building there in March of this year, fueling rumors of his billion-level net worth. Yoo Jae-suk has never confirmed or denied these rumors.
In his 34-year career, Yoo Jae-suk has never been involved in any tax evasion controversy. As revealed on the expert tax show “Tax Saving TV,” the reason Yoo Jae-suk has never had a problem during intensive tax audits is because he chooses a different tax filing method than most celebrities. Tax advisor Yoon explained: “Most celebrities file tax as sole proprietors and hire accountants for detailed bookkeeping, which allows for significant tax savings but is cumbersome. The other method is based on the nationally designated standard expense rate (estimated declaration) which is simpler but requires paying more tax.”
As for why Yoo Jae-suk chooses the standard expense rate declaration, experts explained: “As the national MC, avoiding any tax controversy is most important for him, enhancing public trust. It also saves him time and effort, so he doesn’t have to deal with the stress of receipts and bookkeeping, and can focus on his work in entertainment. A greater benefit is the complete elimination of the risk of tax investigations.” Experts praised him: “Yoo Jae-suk takes a long-term perspective—valuing image and trustworthiness over money. This not only practices the so-called ‘Noblesse Oblige’ but is also the responsible choice befitting a national MC.”
News Source: NOWnews Today News Entertainment