Ministry of Land, Special Investigation into Eastar Jet for Falsifying Accounting Data

[Asia Economy Reporter Kim Min-young] The Ministry of Land, Infrastructure and Transport will conduct a special investigation into Eastar Jet for submitting accounting data containing false information.

On the 5th, the Ministry of Land, Infrastructure and Transport announced that it will conduct a special investigation after detecting false information in the accounting data submitted by Eastar Jet during the process of obtaining a revised international air transport business license from the ministry, following the court's approval of its rehabilitation plan in November 2021.

According to the ministry, Eastar Jet submitted accounting data to the ministry that did not reflect the fact of capital erosion and received the revised license on December 15 of last year. However, according to the audit report on last year's financial statements disclosed on May 13 this year through the Financial Supervisory Service's electronic disclosure system, it was confirmed that the company was in a state of complete capital erosion as of the end of last year.

Minister Won Hee-ryong stated, "We will conduct a thorough investigation and audit to determine whether there were any violations of relevant laws during Eastar Jet's application and issuance process for the revised license, and will take strict measures based on the results."

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