• Cole Yoon

Controversy is Surrounding 'Seventeen' Dokyeom's Purchase

What do you think of this controversy?

Seventeen's Dokyeom's purchase of a building in the lux 'Sinsadong' area in Gangnam, Seoul is stirring up controversy. The issue stems from the way the purchase was made, through what many netizens are calling a paper company. A paper company refers to a business that exists only on paper. Although in America commercial properties are often purchased through Holding companies (Business made to own equity or portion of assets or other business') due to tax and liability reasons, netizens in Korea are saying that Dokyeom's purchase may be problematic. They refer to other celebrities that purchased buildings in the same way in the past that were deemed illegal. We will wait and see to learn more.