[WORD_ON_THE_WEB] 'Why does anyone need a supercar for business purposes?'

The number of people buying supercars and registering under corporate names is on the rise.

According to the Korea Automobile Importers and Distributors Association, over 80 percent of supercars were registered to companies last year. Ninety-one percent of Rolls-Royce purchases and 85 percent of Lamborghini purchases were made under corporate names.

When a car is purchased under a corporate name, it is subject to tax breaks. Many businesses exploit the system to lower tax by buying expensive supercars under corporate names and covering costs as a work expense.

It is illegal to buy a vehicle under a company name and use it for private purposes. However, the custom continues because violations are not easy to spot.

President-elect Yoon Suk-yeol has pledged to differentiate corporate cars using different license plates to make illegal usage easier to spot.

#promising_strategy
“The violators will have no choice but to feel guilty with the new plates."
“Not that changing the color of the plates will entirely solve the problem, but violations would be easier to spot than before.”

#absurd_tactic
“What would be the difference? You still can’t figure out if the person inside the car is using it for private purposes. Changing the license plates won’t make a difference.”
“I feel like those plates will become the symbol of a good vehicle. It will become a source of pride.”

#supercars_as_corporate_vehicles?
“Why does a corporate car have to be a supercar in the first place? We need regulations designating which brands are allowed.”
“We need price limitations, whether it’s 80 million or 100 million. That’s the only way to reduce the number of illegal users.”
“Why does anyone need a supercar for business purposes?”

BY LEE SI-YEOUNG, YOO JI-WOO [yoo.jiwoo@joongang.co.kr]