hy, Seoul Headquarters and Cheonan Factory Under Tax Audit by National Tax Service

[Asia Economy Reporter Minji Lee] hy (formerly Korea Yakult) announced on the 7th that it underwent a tax audit by the National Tax Service on the 5th.

This audit is the first since the tax investigation conducted in 2018. The headquarters in Jamwon-dong, Seocho-gu, Seoul, and the Cheonan factory in Chungcheongnam-do are the subjects of the investigation.

It is reported that the 4th Investigation Bureau of the Seoul Regional Tax Office conducted the on-site investigation. Unlike Investigation Bureaus 1 to 3, the 4th Investigation Bureau primarily handles special tax audits. Their main tasks involve tax evasion and slush fund-related tax investigations of companies. The 4th Investigation Bureau was also responsible for the investigation of HDC Hyundai Development Company, where the recent Gwangju collapse accident occurred.

Currently, hy is awaiting the results of the investigation.