[LETTERS to the editor]Billionaire hagwon owners?
This is in reference to a figure in the Dec. 1 article, “NTS targets unreported income from teaching” on the front page.
The piece states that a hagwon owner named Choi avoided 6.3 billion won in taxes. For argument’s sake, we can assume that it was cumulative over the lifetime of his hagwon, although that is not stated.
Even so, 6.3 billion won - at the current exchange rate is $4.4 million in taxes! That is no insignificant sum. I question whether that was indeed the correct amount.
May I suggest you verify the sources to confirm whether that was indeed the amount he owed in back-taxes.
[The article] also states later that NTS collected 84.3 billion won from 136 private professionals. That’s $58 million in taxes from 136 individuals! Were those indeed the correct figures? Otherwise, perhaps a clarification is in order.
Joel Levin, Seoul
Many thanks for your interest. However, the numbers are correct.