Starting on October 4, 2021, KCIJ-Newstapa reports the findings of the project “The Pandora Papers: Koreans who Fled to Tax Havens 2021.” It is a collaborative project coordinated by the International Consortium of Investigative Journalists(ICIJ) which was joined by more than 600 journalists from all over the world. This global team of journalists has been investigating over 11.9 million documents leaked from 14 offshore service providers, including Trident Trust, Alcogal and IL SHIN CPA and IL SHIN Corporate Consulting.    

– Editor’s Note - 

He called it an “already-finished story.” Hearing him over the phone, I could feel a tremble in his voice. With this phone call, my contact with him was cut off completely. I sent him an email. I went to his office. But that was it. I was not able to reach him. He is a CEO at an investment consulting firm who owns real estate properties in the Gangnam area in Seoul and in the U.S. His name has been publicized by the tax authority in Korea, National Tax Service(NTS). His 5 billion won hidden overseas was officially confirmed 4 years ago.  

Newstapa wanted to ask the question of ‘how’and ‘why.’

The same name that had been released by NTS was also identified in the Pandora Papers’ documents obtained by Newstapa and ICIJ. His name has been found in the leaked IL SHIN documents since 2010. 

It is a win-win game designed and played by this Korean businessman and his safe-keepers. Their main stage is in Hong Kong. 

Here is a story of how a man, who has even been officially named for his overseas slush fund, abused Hong Kong shell companies to meet his end.