Prosecutors have launched a probe on a local construction giant, over allegations of tax evasion and embezzlement.

The Seoul Central District Prosecutors' Office said that inspectors raided the headquarters of Booyoung Group in central Seoul on Tuesday.

Prosecutors confiscated accounting books, internal documents and hard drives containing information related to the company's residence building projects.

While investigating a complaint about the company's tax irregularities, prosecutors came across suspicions that Booyoung Group Chairman Lee Joong-keun embezzled the company's funds during a residential project.

In April 2016, the National Tax Service filed a complaint against Lee, accusing him of embezzling billions of won in company money.