Why did the National Tax Service send investigators to KB Kookmin Bank?

The tax agency said the team was sent to secure accounting records needed for a tax audit. The specific reason for the probe was not immediately known, and the agency declined to confirm details about individual tax investigations.

How large is the National Tax Service probe into KB Kookmin Bank?

About 30 investigators were sent from Investigation Bureau 4 of the NTS Seoul Regional Tax Office. The bureau handles tax-evasion probes of businesses, and the inquiry is expected to run through the end of this year.

What other financial firms has the NTS recently targeted with special probes?

The same bureau launched special probes against Hana Financial Group and Meritz Securities Co. in May. Market watchers linked the wider scrutiny to President Lee Jae Myung’s criticism that financial companies lacked commitment to the public interest.

Tax agency launches probe into KB Kookmin Bank: sources

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Summary

Korea's tax agency has launched a special probe into KB Kookmin Bank in western Seoul, financial sources said Thursday. Around 30 National Tax Service investigators from Investigation Bureau 4 were sent to the bank’s headquarters to secure accounting records for a tax audit. The probe is expected to run through the end of this year, and the reason was not immediately known.

Key Facts

The National Tax Service sent around 30 investigators to KB Kookmin Bank’s headquarters in western Seoul to secure accounting records.
The investigators are from Investigation Bureau 4 of the NTS Seoul Regional Tax Office.
Investigation Bureau 4 is responsible for probing tax evasion by businesses and is widely nicknamed the Grim Reaper by the business community.
The probe is expected to continue through the end of this year.
The bureau also launched special probes into Hana Financial Group and Meritz Securities Co. in May.

By Yonhap

Published Aug 13, 2026 11:20 am KST
Updated Aug 13, 2026 11:59 am KST

A branch of KB Kookmin Bank in Seoul, July 9 / Yonhap

Korea's tax agency has launched a special probe into KB Kookmin Bank, a major lender, financial sources said Thursday.

According to insiders, the National Tax Service (NTS) has sent around 30 investigators to the bank's headquarters in western Seoul to secure accounting records needed for a tax audit.

The sources added the investigators are from Investigation Bureau 4 of the NTS' Seoul Regional Tax Office, which is in charge of probing tax evasion by businesses. The bureau is widely referred to as the "Grim Reaper" by the business community.

The probe is expected to run through the end of this year.

The reason for the investigation was not immediately known.

The bureau also launched special probes against Hana Financial Group and Meritz Securities Co. in May.

Market watchers then said the series of special probes apparently came after President Lee Jae Myung pointed out the lack of financial companies' commitment to the public interest.

"We cannot confirm information related to tax investigations into individual cases," an official from the tax agency said.

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