A civic group has accused NXC CEO Kim Jung-ju on charges of tax evasion.
The speculative capital monitoring center said on February 12 that it will accuse CEO Kim and the NXC on charges of tax evasion.
"When CEO Kim paid corporate taxes on the capital gains from Nexon Japan's shares, he tricked the number of workers at the headquarters into writing a report when he moved from the NXC in Pangyo to Jeju," the speculative capital monitoring center said. "It evaded corporate tax of 158.4 billion won in this way."
"The company created a paper company for seven years from 2009 to 2015, where tax cuts are possible through the transfer of its headquarters to Jeju Island, deliberately trading about 100 million stocks in disguise, resulting in huge capital gains," the civic group also said. "It evaded corporate taxes of 297.3 billion won and sent funds overseas without affecting its ownership."
In addition, the civic group has raised additional allegations of defraud and unfair trading by its affiliate Neople, as well as the NXC's violation of accounting fraud and fair trade laws.