Prosecutors are conducting an investigation today (May 9th) on LG Group.The Seoul Central District Prosecutors’ Office sent investigators to raid LG Group headquarters in Yeouido, Seoul this morning.
The prosecution sent prosecutors and investigators to LG Group to seize accounting and tax files, as well as computer hard disks from the finance team.
The prosecution plans to clarify its suspicions by analyzing related data, but both the prosecution and LG Group are curious as they are not willing to talk about the reason for the raid.
Some in the business community say that the prosecution is investigating the allegations that Chairman Koo Bon-moo and other family members of the group were involved in tax evasion.
The media reported that the “National Tax service filed a complaint against the family of Chairman Koo Bon-moo seeking an investigation into possible tax evasion.” In December of last year, the National Tax Service conducted a special tax investigation on LG International Corp., an affiliate of LG Group.
Another media source said, "Prosecutors believe that the 9.25 million dollars of income tax was withdrawn in the process of transferring shares of affiliates owned by LG Group owners, including Koo Bon-joon.”
While LG Group has been unable to hide its embarrassment, it plans to cooperate with the prosecution as much as possible.
