Hive Reports 1,000-fold Reduction in Annual Sales...Pay 120 million less on waste charges.

Hive

In a parliamentary audit of the Environment and Labor Commission, it was belatedly revealed that Hive had reduced annual sales and imposed only half of the plastic waste levy.

According to an analysis of data from the Korea Environment Corporation today (24th), Park Jung, a lawmaker of the Democratic Party of Korea, Hive did not pay about 125.12 million won while reporting a 1,000-fold reduction in sales in the process of reporting waste charges.

According to the Korea Environment Corporation, Hive produced about 1,397 tons of plastic as of 2023 through albums and goods production by its singers. According to Hive's financial statements, sales as of 2023 are KRW 2.17 trillion 88.2 billion.

However, Hive entered last year's sales into the industrial complex system at 2,178.09 billion won, 1,000 times smaller than it actually was.

As a result, Hive's incorrectly set waste charge was 149.64 million won, which was only half of the 275.83 million won Hive had to pay.

After that, the corporation issued a bill on April 30 without finding it, and Hive completed the payment of the levy on May 10. Even the corporation was unaware that Hive's sales were reported to have been reduced until Rep. Park Jung's office pointed out in September.

In the end, the corporation sent Hive an additional bill worth 120 million won on October 11, five months after Hive's waste charge was paid, and Hive has to pay 125.12 million won by October 31.

"If there were no problems raised during the national audit process, there is a concern that more than 100 million won in levies may have been omitted," said Park Jung, a member of the National Assembly. "The Ministry of Environment should clearly understand how Hive reported reduced sales and come up with measures to prevent recurrence."

Reporter Lee Yu Na from Digital News Team.