National Assembly committee approves Woowa Brothers and Google Korea heads as audit witnesses

  • The Finance, Economy and Planning Committee approved Woowa Brothers and Google Korea heads as parliamentary audit witnesses.
  • The committee passed a request for six witnesses and four expert participants, including SK Energy’s chief executive over petroleum price-ceiling losses and compensation.
  • Audits will intensify after Chuseok across retail, platform and food industries; Kim Yong-beom and Yeo Han-koo were excluded after ruling-party opposition.

South Korea’s National Assembly is set to begin an intensive audit period after the Chuseok holiday, with its Finance, Economy and Planning Committee approving Woowa Brothers Chief Executive Kim Beom-seok and Google Korea head Yoon Koo as witnesses on the 28th. Kim is expected to face questions about transfers between Woowa Brothers, its overseas parent and affiliates, including whether corporate and withholding taxes were properly paid. Yoon is expected to be questioned over allegations that Google Korea avoided corporate taxes and evaded taxes. The committee also agreed to call SK Energy Chief Executive Kim Jong-hwa over refiner losses under a ceiling price system for petroleum products and compensation. The broader audits will cover incidents affecting the retail, platform and food industries, with executives from involved companies selected for scrutiny. Four expert participants were included on state-run institution consolidation and relocation and the creation of a future response fund. Opposition requests to summon former presidential policy chief Kim Yong-beom and former Trade Minister Yeo Han-koo were rejected by the ruling party, and a second witness list is expected after further negotiations.

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National Assembly committee approves Woowa Brothers and Google Korea heads as audit witnesses - CoinPost Terminal