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The prosecution questioned Cho Hyun-joon, the eldest son of Hyosung Group chairman Cho Suck-rai, to investigate suspected tax evasion, slush funds and accounting fraud, officials said Thursday.
The country’s 26th-largest business group is suspected of having evaded corporate taxes worth 1 trillion won ($900 million) since 1997 by manipulating accounting records and setting up paper companies in overseas tax havens.
Earlier this month, the Seoul Central District Prosecutors’ Office questioned the Hyosung chairman’s second son Hyun-moon, as well as the group’s vice chairman Lee Sang-woon on Wednesday.
(christory@heraldcorp.com)
The country’s 26th-largest business group is suspected of having evaded corporate taxes worth 1 trillion won ($900 million) since 1997 by manipulating accounting records and setting up paper companies in overseas tax havens.
Earlier this month, the Seoul Central District Prosecutors’ Office questioned the Hyosung chairman’s second son Hyun-moon, as well as the group’s vice chairman Lee Sang-woon on Wednesday.
(christory@heraldcorp.com)
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Articles by Korea Herald
