[Special Stock] Megastudy Falls 2.8% on Tax Audit News

As news spread that tax investigations were conducted on major private education companies, Megastudy is showing a downward trend.

As of 10:56 AM on the 29th, Megastudy was trading at 100,710 KRW, down 2.81% from the previous trading day. At the same time, Megastudy Education recorded a 6.05% drop to 52,800 KRW.

According to industry sources, the National Tax Service sent investigators to private education companies including Megastudy the day before to secure accounting books and related materials. This investigation is known to be an irregular (special) tax audit rather than a regular tax audit. Prior to the investigation, the Presidential Office issued instructions to exclude questions from private education outside of public education in the College Scholastic Ability Test and also pointed out the private education interest cartel.