National Tax Service Begins Tax Audit of Korean Air Headquarters

[Asia Economy Reporter Dongwoo Lee] On the 20th, the National Tax Service (NTS) began a tax investigation into Korean Air.

According to industry sources, on the afternoon of the same day, the NTS was collecting tax and accounting data and conducting face-to-face investigations at Korean Air's headquarters in Gangseo-gu, Seoul.

The NTS is reportedly investigating inheritance tax related to the family of Chairman Cho Won-tae of Hanjin Group following the death of the late Chairman Cho Yang-ho.

Previously, it was reported that the Hanjin family planned to pay the inheritance tax of approximately 270 billion KRW in installments.