Independent presidential candidate Ahn Cheol-soo apologized Thursday over allegations his wife evaded paying around 10 million won (US$8,940) in taxes by under-reporting the price of an apartment she bought in 2001.

The apology came one day after local media reported allegations that Ahn's wife, Kim Mi-kyung, did not report the correct price of an apartment she bought in southeastern Seoul by at least 200 million won. Such a move effectively allowed her to pay less acquisition and registration taxes.

Soon after the reports, Ahn's election campaign team issued a press release saying the apartment's actual price was indeed different from that reported by Kim and the candidate offered an apology.

"I could give various reasons, but (what happened) was wrong, and I apologize to the people," the 50-year-old computer software mogul-turned-politician told reporters in Seoul. "From now on, I will live by stricter standards."

Real estate agents said the apartment Kim bought in Songpa District cost between 450 million and 480 million won at the time, not for 250 million won as she reported to the district administrative office.

Kim sold the apartment for 1.1 billion won in September of last year. (Yonhap News)