The Korean Chamber of Commerce and Industry (KCCI) is currently under scrutiny following a controversial press release citing a report from a UK immigration consultancy, Henley & Partners. The report claimed that the number of Korean high-net-worth individuals (those with over $1 million) leaving the country could increase drastically by 2025, a statement that was met with immediate backlash from prominent government officials, including President Lee Jae-myung, who labeled it 'deliberate fake news.' The National Tax Service countered the claims with concrete data showing that the average number of individuals registering for overseas relocation with assets over 1 billion won is only 139 per year over the last three years.

Critics have pointed out that KCCI made a critical error by failing to properly authenticate the statistics it cited from Henley & Partners, which are regarded as estimates lacking a solid factual basis. Furthermore, KCCI compounded the issue with its interpretation that high inheritance taxes are a primary cause of this alleged emigration. This interpretation was not mentioned in the original report and raises concerns about the responsibility of KCCI in accurately representing statistical data. Having previously issued a similar press release using the same consultancy's data without any issues back in April could have given KCCI a false sense of security.

Almost a month after the initial release, various UK newspapers and non-profit organizations began questioning the reliability of Henley & Partners statistics, further complicating KCCI's situation. Domestic political figures are also getting involved, with voices from different sectors calling for accountability from KCCI regarding its public statements. The implications of this event signal broader concerns about how data is utilized in public discourse during policymaking, especially with the potential economic ramifications of perceived tax issues on wealthier citizens, highlighting the need for more robust verification processes before dissemination of such sensitive information.