NTS audits Jin Air on suspected tax evasion

By Jhoo Dong-chan

The National Tax Service (NTS) conducted a special tax audit of Jin Air, the low-cost carrier arm of Korean Air, over potential tax evasion, Monday.

According to Jin Air, Monday, NTS investigators visited the low-cost carrier's head office in Gangseo-gu, Seoul, to retain related data and documents without prior notice on the day.

The special probe came after the Ministry of Land, Infrastructure and Transport decided not to cancel Jin Air's license for breaking the Aviation Law, Friday.

Jin Air came to controversy earlier this year after Cho Hyun-min was found to have been on the company board for six years.

Related laws prohibit foreigners from being registered as directors of local airlines, but Korean Air Chairman Cho Yang-ho's youngest daughter, a U.S. citizen, led the low-cost carrier from 2010.

The transport ministry held two hearings with Jin Air officials to decide whether to revoke the business license of the nation's second-largest low-cost carrier.