SPC chairman acquitted of tax evasion charges
Hur Young-in, chairman of South Korean bakery conglomerate SPC Group, was cleared of charges related to gift tax evasion of potentially 7.4 billion won ($5.57 million) through undervalued share transactions at an appeals court on Friday. Earlier this year, Hur was accused of selling shares of Mildawon, the group-owned grain company, at below-market prices in December 2012 to avoid paying gift taxes. The shares were sold at 255 won each, significantly lower than their 2011 appraised value of 1,18
Sept. 6, 2024