Cido boss pledges five ships to settle $277m Korean tax bill

Cido Shipping founder Hyuk Kwon has pledged five overseas ships as collateral after agreeing to settle KRW393.8bn ($277m) in personal tax arrears in South Korea, bringing a 15-year dispute with the country’s tax authorities towards a close. South Korea’s National Tax Service said Kwon has submitted a plan to clear the entire amount and already … Read full article →