South Korea Indicts Chaebol Head in Tax Evasion Crackdown
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Seoul prosecutors indicted the head of CJ Group, a South Korean food and entertainment group, for tax evasion and embezzlement as part of a government drive to crack down on corporate crime.
Lee Jay Hyun, the 53-year-old chairman of the group, was charged today after an investigation that started in May, according to the prosecutors. The group is the country’s 14th-largest chaebol, the conglomerates that dominate South Korea’s economy.