Tax agency launches extraordinary audit into Coupang, its US parent company

The National Tax Service (NTS) has launched an extraordinary tax probe into Coupang Corp., Korea’s largest e-commerce retailer, and its U.S. parent company, Coupang Inc., following a recent data breach, according to industry officials Monday. The move comes amid the mounting pressure on Coupang Corp. and Coupang Inc., which have been criticized for failing to respond adequately to the leak of personal information affecting approximately 33.7 million customers. The data breach, allegedly carried out by a former employee between June and November this year, came to light in late November. According to the officials, the tax authority has mobilized two key bureaus from its Seoul Regional Tax Office. One bureau is responsible for investigating tax evasion, slush fund creation and other irregular tax activities, while the other oversees international transactions. “About 150 investigators from the two bureaus were dispatched to Coupang’s Seoul headquarters and its logistics subsidiary, Coupang Fulfillment Services,” one official said. The move is widely interpreted as a special tax inv