The National Tax Service launches a special tax audit of Kwon Hyuk’s Shidogroup Korea office
National Tax Service tax audit intensifies investigation into allegations of tax evasion by Shidogroup Chairman Kwon Hyuk Quickly check the background and impact of the controversy over large tax arrears
The National Tax Service has launched an irregular tax investigation into the Korean branch of a company related to Kwon Hyuk, chairman of Sido Group, known as the "ship king."
According to the industry on the 12th, the Investigation Bureau 4 of the Seoul Regional Tax Office sent investigators to the Korean office of Sido Shipping in Seochogu, Seoul, and secured accounting books and other materials. The National Tax Service reportedly obtained a search and seizure warrant after detecting suspicions of tax evasion by Chairman Kwon, and also confiscated employees' PCs and mobile phones.
After founding Sido Trading in 1990, Chairman Kwon has continued business operations in Korea, Japan, Hong Kong, and other places, but as of the end of 2024, he was listed among highvalue and habitual delinquents with unpaid taxes of 393.8 billion won under his personal name and 520.3 billion won under corporate names. The National Tax Service stated that this investigation is a tax crime probe, which is more intensive than a regular tax audit.