Seoul: South Korea's tax authorities have launched an in-depth probe into Coupang Inc., including transactions involving its U.S.-based headquarters, industry sources said Monday, amid heightened scrutiny following a massive data breach. The National Tax Service (NTS) has dispatched an investigative team to the e-commerce giant's domestic headquarters in Seoul earlier in the day, the sources said.
According to Yonhap News Agency, the probe is being led by the agency's fourth investigation bureau, which handles special tax audits involving allegations of slush funds and tax evasion, in addition to routine inspections. While the probe officially targets Coupang Fulfillment Services, the company's logistics subsidiary, it is widely believed to encompass a broader review of Coupang's overall transactions.
The investigation reportedly also involves the international transactions investigation bureau, which is examining profit-shifting structures at the group level, including transactions linked to Coupang's U.S. headquarters. Last month, Coupang disclosed that the personal information of 33.7 million customers had been compromised, including names, phone numbers, email addresses, and delivery details, prompting increased scrutiny from lawmakers over the company's business practices.