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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, October 29, 2025 — Yoon Kwan, CEO of BlueRun Ventures (BRV) and the eldest son-in-law of South Korea’s LG Group founding family, has come under fire for allegedly evading a National Assembly summons related to an ongoing offshore tax evasion investigation.
During a parliamentary audit held by the National Assembly’s Strategy and Finance Committee, Rep. Park Sung-hoon of the ruling People Power Party claimed that Yoon “deliberately avoided receiving the official attendance request to escape testifying before the National Assembly.”
According to Park’s office, the committee attempted to deliver the summons to BRV headquarters, but the firm refused receipt, claiming Yoon was “no longer the representative.” A subsequent delivery attempt to an address obtained from the National Police Agency and the National Tax Service failed, as it turned out to be under reconstruction. The request was eventually sent to the address of Yoon’s wife, Koo Yeon-kyung, head of the LG Welfare Foundation, but no response was received as of October 29.
Yoon is currently facing allegations of income tax evasion. Tax authorities claim he failed to report KRW 22.1 billion (USD 16 million) in dividend income earned in South Korea between 2016 and 2020, resulting in KRW 12.3 billion (USD 9 million) in unpaid income tax. After losing an appeal with the National Tax Tribunal, Yoon filed a lawsuit in March 2023 and lost in the first trial.
Though Yoon, a U.S. citizen, argued that he was not a Korean resident and therefore not liable for domestic taxation, the court dismissed the claim. During the proceedings, allegations also surfaced that Yoon had illegally obtained Guatemalan citizenship using forged documents to avoid South Korea’s mandatory military service. The appeal trial is ongoing.
Yoon is also accused of corporate tax evasion. Tax authorities reportedly levied KRW 9 billion in corporate taxes against a special purpose company (SPC) associated with BRV, citing gains from domestic stock investments. BRV has denied any connection between Yoon and the SPC, filing an administrative lawsuit against the Gangnam District Tax Office seeking to nullify the tax assessment.
Rep. Park said, “Mr. Yoon has lived in South Korea with his family while claiming to be a non-resident, evading more than KRW 12 billion in taxes,” adding that his refusal to appear before the National Assembly “defies parliamentary authority.” Park urged the committee to consider filing a formal complaint against Yoon for noncompliance.
In addition to the tax disputes, Yoon is entangled in multiple lawsuits, including a KRW 200 million loan repayment dispute with his acquaintance Cho Chang-yeon, grandson of the founder of Sambu Construction, and a criminal trial over allegations that he provided insider investment information about biotech firm Mezzion to his wife, helping her gain unfair profits.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
