Brands drop advertising campaigns featuring Cha Eun-woo following tax evasion allegations

Several companies have withdrawn advertising campaigns featuring actor and singer Cha Eun-woo following allegations that he evaded paying 20 billion won in taxes.

Singer and actor Cha Eun-woo poses for a photo at luxury watch brand Audemars Piguet's media event in Seongdong District, eastern Seoul, on Nov. 22, 2024. [NEWS1]

Several companies have withdrawn advertising campaigns featuring actor and singer Cha Eun-woo following allegations that he evaded paying 20 billion won ($14 million) in taxes.

Shinhan Bank had made all advertisements featuring Cha private on its YouTube channel and other social media channels as of Friday morning.

Cha has served as an advertising model for the bank’s financial services since early 2025, replacing actor Kim Soo-hyun, who was also dropped by the bank amid allegations that he dated a minor and mistreated celebrities signed to his agency. Kim has denied wrongdoing.

Skincare brand Abib, which selected Cha as its global ambassador in August last year, also made ads featuring Cha private on YouTube, Instagram and X.

Health care company BodyFriend has been in talks to replace Cha with non-celebrities this year, unrelated to the tax allegations, according to a Money S report.

Cha is accused of evading taxes worth 20 billion won by establishing a paper company under his mother's name. Investigators at the National Tax Service's Seoul office probed Cha in spring last year on such suspicions, media outlet Edaily first reported.

The tax service based its investigations on a tax audit conducted before Cha enlisted for military service, which is mandatory in Korea, in July 2025.

Cha's agency, Fantagio, said they are waiting for a final decision by authorities.

"No final decision or tax bill has been issued yet," said the agency in a press release on Thursday. "We plan to fully explain our position on how the law should be interpreted and applied, following all proper legal procedures."

"Cha will continue to faithfully fulfill his tax filing and other legal obligations as a responsible citizen," the agency added.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]