Hanjin President Summoned By Prosecutors

November 8, 1999

South Korean prosecutors summoned Cho Su-ho, a President of Hanjin Shipping Co., for questioning over alleged tax evasion by Hanjin Group affiliates, according to officials at the Supreme Public Prosecutor's Office. In October, the National Tax Administration (NTA) reportedly discovered that Hanjin affiliates and controlling family members had failed to register more than $845 million in taxable income. The tax office said it was seeking to collect approximately $450 million in additional tax, making this the largest tax penalty in South Korean history.

Hanjin President Summoned By Prosecutors

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