South Korean Tax Commissioner offers resignation

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The South Korean National Tax Service (NTS) Commissioner Lee Ju-sung has offered to resign, raising a slew of speculation about his reasons for the sudden announcement. Lee tendered the resignation to Chong Wa Dae, according to the tax agency’s public relations official Oh Dae-sik. The presidential house is expected to accept his resignation, according to presidential house officials.

Under Lee’s guidance, NTS has accomplished the first tax probe ever done on foreign investment funds, including U.S. based Lone Star fund. Local conglomerates also went through tax probes, and real estate speculators were targeted as well.

Hat tip:The Korea Times

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