National Tax Service Conducts Tax Audit on Homeplus Major Shareholder MBK Partners

The National Tax Service is conducting a tax audit on MBK Partners, the private equity fund that is the major shareholder of Homeplus.

According to industry sources on the 12th, the Seoul Regional Tax Office's Investigation Division 4 has dispatched employees to MBK Partners to carry out the tax audit.

MBK Partners stated, "We were also audited in 2015 and 2020, and we undergo regular audits every five years," indicating that this is a routine audit conducted every 4 to 5 years.

However, since the Seoul Regional Tax Office's Investigation Division 4 is responsible for special (non-regular) tax audits, there is speculation that the investigation will be more extensive. MBK Partners recently filed for corporate rehabilitation of Homeplus and is also involved in a management rights dispute with Korea Zinc. MBK was audited in 2020 for offshore tax evasion allegations and, after appeal procedures, was fined 42 billion KRW.

An official from the National Tax Service said, "We cannot confirm any details related to the tax audit."

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