YG Entertainment Issues Statement on Yang Hyun-suk’s Indictment, Expressing Deep Regret

On September 13, YG Entertainment (referred to as YG) voiced significant disappointment and confusion over the unexpected indictment of executive producer Yang Hyun-suk by prosecutors.

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. He faces charges related to receiving multiple luxury watches from the CEO of a foreign luxury watch brand in 2014, along with failing to pay taxes upon their import into South Korea.

YG released an official statement addressing the matter:

“We express our significant disappointment and confusion regarding the sudden indictment by the prosecution.

In 2014, Yang Hyun-suk was requested to promote products for the watch company and received the items as sponsorship for broadcast exposure.

In 2017, it was discovered that the company had imported numerous watches without going through appropriate customs procedures, leading to Yang’s investigation for the watches received for promotional purposes.

During that inquiry, Yang Hyun-suk fully cooperated, voluntarily submitting all sponsored watches to the authorities to prevent any minor issues as a public figure.

The CEO of the watch brand, who is an Asian foreigner, had frequently visited Korea since 2013 when the brand opened an official store. However, he had dodged complying with the 2017 investigation. After avoiding Korea for seven years, the CEO recently returned, prompting the revival of the investigation.

Throughout the inquiry, the CEO’s statements changed frequently. With the statute of limitations approaching the 10-year mark, the prosecution hastily indicted Yang without conducting a thorough investigation of witnesses supporting Yang’s claims. They concluded that the sponsored items were brought into Korea without proper customs declaration.

We express deep regret over the prosecution’s rushed and excessive indictment just days before the statute of limitations expired.

This situation appears to arise from a misunderstanding of the celebrity sponsorship process and the status of Yang Hyun-suk as a well-known public figure.

Yang Hyun-suk intends to sincerely participate in the upcoming legal proceedings while continuing to focus on his role as YG’s executive producer. Thank you.”

Source: Daum