South Korean prosecutors investigate tax evasion case and raid LG group headquar
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The prosecutor's office said on Wednesday that South Korean prosecutors raided the headquarters of LG group, a part of the investigation and control of family members suspected of tax evasion.
The prosecutor's office of the Central District of Seoul said in a text message to reporters that the prosecutor is investigating the possible evasion of the capital gains tax related to the transfer of shares in the LG affiliated enterprises, with a total amount of about 10 billion won (US $9 million 250 thousand).
A spokesman for the group's holding company, LG Corp (003550.KS), did not immediately comment.
Ranking by assets, LG group is the fourth largest conglomerate in Korea.
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