National Tax Service Launches Tax Investigation into Sampyo Group, First Case under Serious Accident Punishment Act

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[Asia Economy Reporter Moon Hyewon] It has been reported that the National Tax Service has launched a special tax investigation into the Sampyo Group.

According to industry sources on the 21st, the Seoul Regional Tax Office recently sent employees from Investigation Division 4 to the Sampyo Group headquarters to conduct an investigation. This is a special tax investigation, not a regular tax audit. The National Tax Service is reportedly investigating allegations of tax evasion related to the Sampyo Group.

Sampyo Industrial, an affiliate of the Sampyo Group, is under investigation by the Ministry of Employment and Labor and the police in connection with an accident in January at the Sampyo quarry in Yangju-si, Gyeonggi Province, where three workers died due to a landslide. This accident was the first major industrial disaster to occur two days after the enforcement of the Serious Accident Punishment Act.

In February, Sampyo Industrial was also fined 1.243 billion KRW by the Fair Trade Commission. The fine was imposed because of collusion with other manufacturers and sellers regarding the price and quantity of ready-mixed concrete (concrete in an unset state).

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