[Special Stock] Ildong Pharmaceutical Plummets Nearly 15% Amid Tax Investigation News

[Asia Economy Reporter Myunghwan Lee] Ildong Pharmaceutical is plummeting immediately after the market opened on the 13th following news that it is undergoing a tax audit by the National Tax Service.

As of 9:20 a.m. that day, Ildong Pharmaceutical was trading at 55,300 KRW, down 14.26% (9,200 KRW) from the previous trading day. Ildong Holdings was also trading at 25,950 KRW, down 13.64% (4,100 KRW) compared to the previous day.

According to the pharmaceutical industry, the National Tax Service began a tax audit on Ildong Pharmaceutical the day before. The National Tax Service dispatched employees to Ildong Pharmaceutical’s headquarters in Seocho-gu, Seoul, to review documents and secured some of them.

The audit was reportedly conducted by the 4th Investigation Division of the Seoul Regional Tax Office. Typically, the 4th Investigation Division is known to mainly handle irregular special tax audits rather than regular tax audits.

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