Taxman raids DSME headquarters

The woes continue to mount at troubled South Korean shipbuilding giant Daewoo Shipbuilding & Marine Engineering (DSME) with a tax probe following hot on the heels of a massive accounting fraud fracas.

Seoul dispatched a tax investigation team to raid DSME offices yesterday. The yard faces tax evasion charges linked to its accounting fraud scandal from 2013 and 2014 when DSME claimed it was in profit, when in fact it was massively in the red, a fraud that has already resulted in a number of jailings.


Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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