HANJIN SHIPPING, PARENT COMPANY HIT BY TAX FINES

   Korea’s National Tax Administration is levying 13.9 billion Won ($12 million) in additional taxes on Hanjin Shipping after having completed a special tax investigation of the Hanjin parent group and affiliates.
    The Hanjin chaebol – or conglomerate – is facing an enormous total tax fine of 541.6 billion Won (US$450 million).
    "Hanjin Shipping will respond to this development in a logical and rational manner and will make every possible effort to make sure this will not affect the company’s normal operations as a global ocean transportation company," a spokesman for the carrier said.
    In addition, further investigation by the prosecutor’s office "will bring to light the true state of affairs concerning the National Tax Administration’s allegations," the carrier spokesman added.