Lee Jae-hyun, Chairman of CJ Group (Photo Courtesy of CJ Group)

 

 

[Alpha Biz= Kim Sangjin] The National Tax Service (NTS) has confirmed that it is investigating a secret Swiss bank account belonging to Lee Jae-hyun, Chairman of CJ Group.

Transactions were made multiple times over a three-year period starting in 2013, with the highest account balance reportedly reaching 26 billion KRW. According to current tax laws, foreign bank accounts with a balance exceeding 10 billion KRW must be reported to the NTS.

However, this particular account was never reported, leading the NTS to suspect that Chairman Lee may be involved in tax evasion.

In 2013, Lee was also convicted for creating a slush fund of approximately 620 billion KRW and embezzling 207.8 billion KRW in taxes, resulting in a 2.5-year prison sentence and a 25.2 billion KRW fine.

 

 

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