SEOUL: South Korea’s tax office is conducting a probe into the Samsung Dream Scholarship Foundation, a non-profit organization founded by the country’s top conglomerate, Samsung Group, industry sources said Tuesday.
Established in 2002 as the Samsung Lee Kun-hee Scholarship Foundation, it marks the first time for South Korea’s top private-run education charity to face an investigation from the National Tax Service, the sources said.The tax investigation, which started Monday, will run for 40 days, they added.
With an annual budget of around 30 billion won (US$27.7 million), the charity’s assets include stocks held by Yoon-hyung, Kun-hee’s youngest daughter who died in the United States in 2005.The foundation provides scholarships to elementary, middle and high school students from low-income households.
