The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Homeless women struggle to find place to spend night

  • 3

    Heavy snow hits Seoul, surrounding areas

  • 5

    People attempt to cut surging heating costs with creative solutions

  • 7

    Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film

  • 9

    Life prisoner sentenced to death for beating inmate to death

  • 11

    Kim Hyun-joo says humanity is at heart of action film 'Jung_E'

  • 13

    Korea's childbirths hit record low in Nov.

  • 15

    Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

  • 17

    S. Korea to increase joint air defense exercises following N. Korean drone incursions

  • 19

    VIDEODo Koreans know K-pop idols well?

  • 2

    Koreans stunned by spike in heating costs

  • 4

    More than dozen chaebol scions indicted on alleged drug use

  • 6

    Netflix series 'The Glory' draws focus to real school bullying

  • 8

    Inflation weighs on households

  • 10

    'I was a stock investment addict': psychiatrist seeks to help addicted people through his book

  • 12

    INTERVIEWPartnerships with Korean companies help Delta Air Lines' post-pandemic recovery

  • 14

    PHOTOSAnother day of heavy snowfall in Korea

  • 16

    Gov't to double subsidies for vulnerable households as energy bills soar

  • 18

    Renaissance aesthetics meets surreal fantasy in Park Min-joon's oil paintings

  • 20

    Gov't seeks to limit where child sex offenders can reside

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Sat, January 28, 2023 | 02:16
Economy
Tax agency set to audit the biggest church in Korea over alleged embezzlement
Posted : 2016-03-14 16:30
Updated : 2016-03-15 16:38
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Kim Jae-won

The National Tax Service (NTS) is set to audit the Yoido Full Gospel Church, targeting pastor David Yonggi Cho who is suspected of embezzling 80 billion won ($67 million) of funds, said officials of the church on Monday.

They said that the church's pastor Lee Young-hoon told elders Sunday to prepare a room on the 11th floor of the Kookmin Ilbo's main office in Yeouido, Seoul because the NTS will soon begin a tax audit against the world's largest church. Kookmin is a daily newspaper run by the church.

"We will face the tax audit soon. That is the fact," said an official of the church, asking not to be named.

The official admitted that the problem in the church is well-known to the public.

The NTS refused to comment on the issue, referring to privacy concerns for taxpayers. This is the first time that the tax authorities will have conducted an audit of the megachurch.

The announcement came while the prosecutors' office is investigating Cho's aides over allegedly embezzling church funds. He allegedly took 60 billion won of funds intended for overseas mission projects as well as an additional 20 billion won as severance pay without approval from the church.

The Seoul Central District Court sentenced the 80-year-old pastor to two and half years in jail with four years of suspension for inflicting 13.1 billion won of losses to the church and tax evasion worth 3.5 billion won by ordering church officials to buy stocks in his son's company with church funds at a rate more expensive than the market price. His son Hee-joon was arrested after being sentenced to three years in prison.

Critics say that the collapse of Pastor Cho illustrates how deeply corrupt Korea's megachurches are, after a rapid growth during the last few decades. A few years ago, SaRang Community Church, a Presbyterian church, drew criticism for establishing a luxury 14-story church building in the lucrative southern Seoul district of Seocho, spending 300 billion won.

The church's pastor Oh Jung-hyun was also suspended from his job for six months in 2012 for plagiarizing his Ph.D thesis from the Potchefstroom University in South Africa. He was also accused of embezzling church funds during the construction of the new building. The church's congregation has been split since then by those supporting Oh and those opposing him.

Emailshosta@ktimes.com Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1People attempt to cut surging heating costs with creative solutions People attempt to cut surging heating costs with creative solutions
2SK E&S retains gov't support for Barossa gas project in Australia SK E&S retains gov't support for Barossa gas project in Australia
3Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities
4More Korean manufacturers enjoy Georgia's hospitality More Korean manufacturers enjoy Georgia's hospitality
5Seoul to work with Hanoi to pursue peace on Korean peninsula Seoul to work with Hanoi to pursue peace on Korean peninsula
6Superintendent of Seoul Education Office gets suspended jail term Superintendent of Seoul Education Office gets suspended jail term
7KT&G aims to become global top-tier company KT&G aims to become global top-tier company
8Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event
9LGES to capitalize on US IRA, Tesla partnership to continue record earnings LGES to capitalize on US IRA, Tesla partnership to continue record earnings
10Middle East 'sales diplomacy' picks up speed Middle East 'sales diplomacy' picks up speed
Top 5 Entertainment News
1Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film
2Kim Hyun-joo says humanity is at heart of action film 'Jung_E' Kim Hyun-joo says humanity is at heart of action film 'Jung_E'
3Renaissance aesthetics meets surreal fantasy in Park Min-joon's oil paintings Renaissance aesthetics meets surreal fantasy in Park Min-joon's oil paintings
4Jang Keun-suk steps out of his comfort zone with 'The Bait' Jang Keun-suk steps out of his comfort zone with 'The Bait'
5TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride' TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride'
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

wooribank
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group