The National Tax Service (NTS) has launched an irregular tax audit against KB Kookmin Bank.

According to the financial sector, the Investigation Bureau 4 of the Seoul Regional National Tax Service deployed around 30 investigators to the new headquarters of KB Kookmin Bank in Yeongdeungpo-gu, Seoul, this morning to secure accounting records and other materials.

Investigation Bureau 4 is the department responsible for irregular tax audits, such as examining suspected corporate tax evasion, apart from regular audits.

This audit will continue until the end of this year, and the specific reasons have not been confirmed.

Previously, Investigation Bureau 4 launched consecutive irregular tax audits targeting Hana Financial Group, Hana Bank, and Meritz Securities back in May.

At the time, the financial sector paid close attention to the fact that the audits came right after criticisms regarding the public nature of financial institutions, raising forecasts that the investigations might expand across the entire financial sector.

With Investigation Bureau 4 targeting KB Kookmin Bank again after three months, attention is once again focused on the background of this audit.

KB Kookmin Bank is reportedly in the process of figuring out the circumstances surrounding the tax audit.

Internally, the bank is closely monitoring the scope of the NTS investigation and its potential impact on management.

KB Kookmin Bank has recently managed its total household lending volume by capping mortgage loans for purchasing homes at 300 million won across all regions.

Its parent company, KB Financial Group, is pushing forward with a roadmap to supply a total of 110 trillion won in funds by 2030, which includes 93 trillion won in productive finance and 17 trillion won in inclusive finance.

Separately, KB Financial Group is currently proceeding with the procedure for selecting its next chairperson, and KB Kookmin Bank President Lee Hwan-ju, whose term expires in December of this year, has been included in the shortlist of candidates.

Despite delays in the financial authorities' announcement of improvements to financial holding company governance structures, the group maintains its stance to proceed with the selection process according to the scheduled timeline.

KB Financial plans to narrow down the pool of chairperson candidates from six to three on the 27th of this month, and finalize the single final candidate on September 11 of next year.

The NTS stated that it cannot confirm information regarding tax audits on individual taxpayers.

(Photo: Yonhap News)