POSCO Construction Faces Trial on Corporate Tax Evasion Charges

[Asia Economy Reporter Lee Gwan-ju] It has been confirmed belatedly that POSCO Engineering & Construction was brought to trial on charges of corporate tax evasion.

According to the legal community on the 16th, the Seoul Central District Prosecutors' Office filed a summary indictment with a fine against POSCO Engineering & Construction and employee A in June for violating the Tax Crime Punishment Act.

Employee A is accused of evading corporate taxes of 100 million won and about 5.8 million won in April 2015 and April 2016, respectively. POSCO Engineering & Construction was also summarily indicted under the joint penalty provision.

The Seoul Central District Court referred this case to a formal trial, and the first hearing was held on the same day under the presiding judge Yang Hwan-seung of Criminal Division 3, Seoul Central District Court.