Korea's biggest yard is investigated for tax irregularities

The tax authorities in South Korea have launched investigations into the country's largest shipbuilding group, Hyundai Heavy Industries, following suspicions of illegal overseas tax transactions.

Photo: Hempel

Hyundai Heavy Industries (HHI) is currently being probed by the South Korean tax authorities in relation to suspicions that the shipbuilding has been involved in illegal overseas tax transactions.

The country's National Tax Service (NTS) and Hyundai Heavy Industries both confirm that the shipbuilding group's finances are currently being reviewed at the headquarters in Ulsan. However, HHI stresses that the current process is a routine probe, according to newspaper The Korea Herald.

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