After replacing Kim Soo-hyun, Cha Eun-woo dropped from major ad campaign amid $13.7 million tax probe

ASTRO member and actor Cha Eun-woo finds himself at the center of a growing tax controversy.

The issue became visible on January 23, when OSEN reported that Shinhan Bank had switched all videos and posts featuring Cha Eun-woo on its official YouTube channel and social media accounts to private. Visitors clicking on the content are now met with notices such as “This video is unavailable” or “This is a private video,” effectively erasing the idol-actor from the bank’s public-facing platforms. While Shinhan Bank has not issued an official explanation, the timing has raised eyebrows, coming immediately after Cha Eun-woo became embroiled in allegations of tax evasion.

According to AllKpop, the move is particularly notable given Shinhan Bank’s recent history. The financial institution had previously replaced Kim Soo-hyun with Cha Eun-woo as its model following controversy surrounding the late Kim Sae Ron—making Cha’s sudden disappearance from its channels all the more conspicuous.

At the heart of the issue is a reported demand from tax authorities for more than 20 billion KRW (approximately 13.7 million USD) in additional income tax.

According to Chosun Daily, the Seoul Regional Tax Office’s Investigation Division 4 carried out an intensive investigation last year into suspicions that Cha Eun-woo had avoided paying taxes through a one-person agency established by his mother. The resulting reassessment, exceeding 20 billion KRW, has been described as the largest tax bill ever imposed on a Korean celebrity.

His earnings were structured through a service agreement involving his official agency, Fantagio, and the one-person agency founded by his mother. Under this arrangement, income from his entertainment activities was reportedly distributed among Fantagio, the personal agency, and Cha Eun Woo himself.

However, the National Tax Service reportedly determined that the one-person agency functioned largely as a paper company, providing no substantial services. Authorities believe the corporation was set up to reduce Cha Eun-woo’s tax burden by splitting income and applying a corporate tax rate, roughly 20 percentage points lower than the top personal income tax rate, which can reach 45 percent.

Fantagio has pushed back against the conclusions, stating: “The key issue in this case is whether the corporation established by Cha Eun Woo’s mother qualifies as a substantive taxable entity. This matter has not been finally confirmed or officially assessed, and we plan to actively present our position through lawful procedures regarding the interpretation and application of the law. The artist and his tax representatives will fully cooperate to ensure the process is concluded as swiftly as possible.”