Tax agency to probe 41 businesses for causing consumer price instability
Korea's tax agency said Monday it has launched probes into 41 businesses for allegedly engaging in unfair practices and contributing to consumer price instability, as the government seeks to curb inflation ahead of the Chuseok holiday. The National Tax Service (NTS) said the move came after it detected cases in which businesses inflated production costs and ultimately passed the burden on to…
The Korea Times reports that the National Tax Service (NTS) in South Korea has launched investigations into 41 businesses for engaging in unfair practices and contributing to consumer price instability ahead of the Chuseok holiday. The probe targets 23 agricultural product retailers, 12 grain, fruit, and meat retailers, 16 food franchises, and the largest food delivery platform, Baedal Minjok or Baemin.
The investigations focus on alleged underreporting of profits, inflated expenses, and cost manipulation, with the NTS aiming to curb inflation leading up to the holiday.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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