DEEPTAG is a forensic corporate intelligence boutique investigating hidden fund movements and governance risk at Korean companies. We read financial statements, regulatory filings and registry records in the original, reconstruct what actually happened, and set it out in a report.
REQUEST A SCOPING CALLRead on its own, a single company's financial statements make most transactions look ordinary.
Red flags appear once the counterparty's books and several years of records are set beside them.
We collect records held across different institutions, analyze them, assess them, and produce risk intelligence.
Audited financial statements and their notes, annual and current filings, corporate and property registries, the official gazette, and Korean-language press. We work from the originals, not from summaries or news coverage.
Undisclosed related-party transactions. Divisions and assets moved to a company owned by the controlling shareholder. Loans to companies already in capital impairment, with the interest never collected. The route by which assets and profits were transferred.
We first establish what the risk actually is, then evidence each finding against the source document. Fund movements are quantified year by year and graded, and we set out which options remain: negotiation, litigation or a regulatory filing.
Not because records are scarce.
They sit with different institutions and exist only in Korean.
And corporate risk diligence has never established itself here as an independent line of work.
Regulatory filings sit with the Financial Supervisory Service, corporate and property registries with the courts, insolvency notices in the official gazette. There is no consolidated English-language source, and most of what matters is written in Korean, inside the notes and the registry.
The work is done almost entirely inside the largest law and accounting firms. They do not take outside instructions and are built around domestic clients. Foreign firms are left either dropping Korea or covering it with a general search.
We act as a vendor to global consultancies with offices in Asia.
We deliver in their report format, to their turnaround, and under their onboarding requirements.
Accounting irregularities, governance risk and undisclosed liabilities at acquisition and investment targets.
Who actually stands behind the counterparty, and what has moved between them.
Where the money went, quantified year by year and traced to where it ended up.
An evidentiary record that can be used in proceedings and regulatory filings as it stands.
The Korean part of your engagement, in your report format and to your schedule.
More than ten engagements since 2025, for private equity firms, listed companies and law firms.
Client and subject identities are withheld.
The buyer was already running a diligence team of lawyers and accountants on the same target.
Interest had been booked as income on one side of a loan that was never collected on the other.
Funds had been locked for two years after a failed listing. Notes, shareholder composition and registered addresses were cross-checked.