Terraform Labs CEO Do Kwon says his company has no tax obligations in South Korea.
The media previously reported that Korean authorities were investigating Kwon and Terraform Labs for over $78 million in unpaid corporate taxes.
“We have no outstanding tax liabilities in Korea,” he said, adding that the company has already paid its liabilities in full after the tax audit.
“Happy to participate in any litigation or regulatory investigation to the best of our ability – we have nothing to hide,” Kwon added.
In addition to his comment about the company’s tax status, Kwon noted that he has been in Singapore since December 2021.