Conglomerates found to hold some 5.7 tln won in tax havens: data
Social affairsMay 26, 2013
South Korea's large businesses are found to hold some 5.7 trillion won (US$5.1 billion) worth of assets through their corporate entities in tax haven regions, data showed Sunday. According to the data by market researcher Chaebol.com, 24 local conglomerates were found to run corporate entities in nine tax havens, including the Cayman Islands, Panama, the Marshall Islands, Samoa and Cyprus. The businesses cited in the data are private conglomerates holding 1 trillion won or larger in total a