Seoul: South Korean tax authorities have initiated an investigation into the e-commerce firm Coupang, focusing on transactions linked to its US headquarters, as reported by Seoul-based Yonhap News.

According to Anadolu Agency, the National Tax Service (NTS) dispatched an investigative team to Coupang's Seoul headquarters. This inquiry is being conducted by the NTS' fourth investigation bureau, known for handling special audits involving suspected slush funds and tax evasion, in addition to routine inspections.

The investigation is officially targeting Coupang Fulfillment Services, the company's logistics unit. However, sources indicated that it is expected to expand to cover the retailer's broader financial activities. The international transactions investigation bureau is also reportedly involved, examining potential profit-shifting schemes at the group level, including transactions associated with Coupang's US operations.

Concerns about Coupang's business practices have been heightened since the company disclosed last month that the personal information of 33.7 million customers had been compromised. This breach included sensitive data such as names, phone numbers, email addresses, and delivery information, drawing increased scrutiny from lawmakers.