Doseokgu, CEO of LS Nikko Dongjeomyeon, Indicted Without Detention on Tax Evasion Charges

[Asia Economy Reporter Won Dara] Do Seok-gu, CEO of LS Nikko Copper Refinery, has been indicted without detention on charges of tax evasion under the Special Act on Tax Crimes.

The Tax Crime Criminal Division of the Seoul Northern District Prosecutors' Office (Chief Prosecutor Han Tae-hwa) announced on the 1st that Do was indicted without detention on the 29th of last month on charges of evading taxes (tax evasion under the Special Act) during the process of assisting the LS Group owner's family in transferring shares.

According to the prosecution, when Do served as the head of LS's finance headquarters in the past, he acted on behalf of Gu Ji-hee, the sister of Gu Ja-eun, chairman of LS Mtron and a member of the group owner family, to enter into a stock sale contract transferring shares of LS and Yesco Holdings with another sister of Chairman Gu, Gu Eun-jung.

Do is alleged to have evaded approximately 800 million KRW in capital gains tax by submitting false reports to avoid the market price premium rule applied to stock sales between related parties during this process.

Earlier, after receiving a report from the National Tax Service, the prosecution launched an investigation and conducted a search and seizure of the LS Nikko Copper Refinery office located in LS Yongsan Tower, Yongsan-gu, Seoul, on the 12th of last month.

An LS Group official stated, "CEO Do maintains that he has never submitted false reports and will actively cooperate with the prosecution's investigation."

This content was produced with the assistance of AI translation services.