The SM Entertainment company was required to pay a sum of cash to the South Korean government.
According to a report on Friday , SM Entertainment was asked to pay a fine of 20.2 billion Won to the National Tax Service of the Seoul Regional Office.
The results of the investigation stated that there was a leak of company funds between former CEO Lee Soo Man and the agency, and some financial reports were not included during transactions with other companies.
SM Entertainment has about one month to pay the government 20.2 billion Won, approximately 3.19% of the company's net worth.
The National Tax Service Investigation Bureau is also investigating the shares of Lee Soo Man, who is the largest shareholder in SM Entertainment, at 18.73%, and his nephew Lee Sung Soo, who is the co-CEO of the current agency SM Entertainment.
This is not the first time SM Entertainment has undergone a tax investigation.
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