YG Releases Statement about Yang Hyun-suk’s Sudden Indictment, Expresses Deep Regret
On September 13, YG Entertainment (hereafter YG) expressed significant disappointment and confusion regarding the sudden indictment of executive producer Yang Hyun-suk by prosecutors.
Previously on September 11, the Public and International Crimes Investigation Division of the Busan District Prosecutors’ Office indicted Yang Hyun-suk in the Seoul Western District Court on charges of receiving multiple luxury watches from the CEO of a foreign luxury watch brand in 2014 and failing to pay taxes upon bringing them into Korea.
Regarding this, YG releases an official statement as below:
“We express our significant disappointment and confusion regarding the sudden indictment by the prosecution.
In 2014, Yang Hyun-suk was asked to promote products for the watch company and received the items as sponsorship for exposure on broadcasts.
AdvertisementIn 2017, it was discovered that the company had brought in multiple watches without going through customs procedures, and Yang was also investigated for the watches he had received for promotional purposes.
At that time, Yang Hyun-suk fully cooperated with the investigation and, wanting to avoid any minor issues as a public figure, voluntarily submitted all the sponsored watches to the authorities.
The CEO of the company, an Asian foreigner who had frequently visited Korea since 2013, when the brand opened an official store here, repeatedly refused to comply with the investigation in 2017. After avoiding Korea for seven years, the CEO recently returned, and the investigation resumed.
AdvertisementThroughout the investigation, the CEO’s statements changed frequently, and with the statute of limitations nearing 10 years, the prosecution hastily indicted Yang without thoroughly investigating witnesses who supported Yang’s claims. They concluded that the sponsored items were brought into Korea without customs declaration.
We express deep regret over the prosecution’s rushed and excessive indictment just days before the statute of limitations expired.
This situation likely stems from a misunderstanding of the celebrity sponsorship process and the fact that Yang Hyun-suk is a famous public figure.
Yang Hyun-suk plans to sincerely participate in the upcoming legal proceedings and will continue to focus on his role as YG’s executive producer. Thank you.”
Source: Daum
