South Korean prosecutors invaded LG Corp in Yeouido to carry out tax evasion checks. Prosecutors claim to have acted following a complaint filed with the National Tax Office of South Korea, and their main objective is to investigate the Department of Economic Activities the company's.
The Koo family members, controlled, are supposed to have transferred the company's shares to each other, but they have blocked transactions to prevent tax from the state according to prosecutors.
So the state is reported to have been harmed around 10 by millions of dollars from non-payment of taxes.
The Koo family is the largest shareholder in LG Corp., which is the parent company of many other companies such as LG Electronics and LG Display. The same family manages several subsidiaries of the group.
Koo Bon-moo, the head of the family, who is CEO and president of LG Corp, is not controlled by prosecutors. LG, for its part, said there was a difference of opinion between the South Korean authorities on tax payments but declined to comment further.