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News [Soompi] Yang Hyun Suk under suspicion of tax evasion (1 Viewer)

SeulPika

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On March 6, news outlet Kukinews reported about the possibility of tax evasion by a club previously thought to be owned by BIGBANG’s Seungri, but allegedly owned by Yang Hyun Sukand his brother.

The report explains that club Love Signal, located in the neighborhood of Seogyo it Mapo District in Seoul, is the same club as Club X, which was run from December 2017 to August 2018. The day Club X opened, Seungri posted on his Instagram, “Club X, a club I manage myself, has opened in the basement across the street from Samgeori Pocha in Hongdae. Come ^_^” Kukinews reported that the bracelets handed out at the entrance of Love Signal have Club X’s logo and that a source from Love Signal acknowledged the connection between the two clubs, suggesting that Seungri is also tied to Love Signal.

Love Signal is registered as a regular restaurant, when in reality, it is an adult entertainment establishment according to the laws of Mapo District. In 2015, Mapo District established a new regulation regarding regular restaurants that allow guests to dance. It is a regulation meant to help clubs in the Hongdae area thrive by allowing them to register their businesses as regular restaurants. The regulation states that in regular restaurants where guests are allowed to dance, guests can only dance in the areas between tables and chairs. It is a violation of the regulation to have a separate stage for guests to dance. As of December 2018, there are 43 regular restaurants in Mapo District where guests are allowed to dance, and Love Signal is one of them.

Kukinews found on February 28 that Love Signal has structures resembling a stage. The stage has several poles installed on it as well, and they confirmed that night that guests were indeed dancing on the stage.

Regular restaurants are required to pay 10 percent in value-added taxes, while adult entertainment establishments have to pay an additional 10 percent special consumption tax and 3 percent educational taxes. For example, if a business gathers 10 million won (approximately $8,855) in profits, it would pay 1 million won (approximately $885) in taxes as a regular restaurant and 2.3 million won (approximately $2,036) as an adult entertainment establishment. Therefore, registering a club as a regular restaurant is a way to bend the law and evade the heavy tax. Whether the act is legal or not depends on the existence of a separate stage for dancing inside the club.

Though Love Signal appeared to be tied to Seungri at first, Kukinews found that on official documents, the owner of Love Signal is corporation “A.” As of December 31, 2016, YG Entertainment CEO, Yang Hyun Suk, owned 70 percent of the stocks of corporation “A,” while his brother and president of YG Entertainment, Yang Min Suk, owned the remaining 30 percent. This indicates that Love Signal may be a business jointly owned by Yang Hyun Suk and Yang Min Suk if they still hold the same amount of stocks in corporation “A.”

When questioned about this news, corporation “A” responded, “We have nothing to say on our part. If the Mapo District Office says it’s illegal, then it’s illegal. Call the Mapo District Office and confirm the facts.” Meanwhile, YG Entertainment stated, “This is not something we can figure out soon. We are not sure when we will be able to give a response.”

Mapo District Office told Kukinews, “We do have separate investigations for regular restaurants that allow guests to dance. It is possible that we issued a correction order but the corrections were not made by the business.”

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Knetz response:


Article: [Exclusive] Seungri's club under 'tax evasion' suspicions in Hongdae... actual owner turns out to be YG Yang Hyun Suk

Source: Kuki News via Nate

1. [+2,833, -55] So Seungri and Yang Hyun Suk are business partners after all. YG reminds me of the Chosun Ilbo family. Trash that even the police or prosecutors can't touch.

2. [+2,600, -23] I knew this would happen, so all that's left is for Yang CEO to be investigated...

3. [+2,399, -35] Please fail YG

4. [+136, -1] Yang Hyun Suk, Seungri, and the corrupted police are all in it together

5. [+129, -1] Wasn't it obvious that Yang Hyun Suk was the one pulling the strings?

6. [+121, -1] So Yang Hyun Suk has been working to cover Seungri's tracks all this time because they were running it together... and yet they're claiming they had no idea what was going on inside the club? ㅋㅋㅋ Yang Hyun Suk even put out an article saying Seungri was not at fault.. ㅋㅋ I bet all the computer files that came out of YG didn't belong to Seungri but to Yang Hyun Suk? ㅋㅋ So he was covering Seungri's tracks just in case investigations ended up reaching him... ㅋㅋㅋㅋㅋ

7. [+112, -1] I bet you they're involved with some type of cartel too

8. [+102, -1] So they were in it together all along ㅋㅋㅋ daebak, what is this

9. [+98, -2] There really is no end in sight, disgusting YG ㅋㅋㅋㅋㅋㅋㅋㅋ

10. [+92, -2] So Seungri was the face and Yang Hyun Suk was the head. This is going to be a long fight... he's better off selling his stocks since they're plummeting right now ㅋㅋㅋㅋㅋㅋㅋ

-





Source: Naver

1. [+523, -4] YG is slowly getting caught in one by one~~ ㅎㅎㅎㅎ

2. [+336, -1] Told you, I knew YG was involved ㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ

3. [+227, -4] If Japan has the yakuza, Korea has YG. Don't think we're easy, guys!

4. [+127, -4] It's endless

5. [+110, -1] Make your money in just ways!

6. [+64, -0] And who does he think he is to be giving advice to anyone, what a joke

7. [+58, -3] Naver, let go of your YG stocks and please put up your articles fair and square... Until when are you going to take down negative articles about YG? This scandal has passed the point where switching out a few articles will bury it anymore...

8. [+54, -1] Yang Hyun Suk has been the one to bury Park Bom, GD, and TOP's scandals all along. He should've been the first person to be investigated ^^ It won't be easy though since he has the police and lawyers on his side ㅋㅋㅋㅋㅋㅋㅋ He needs to be ruined for all of this to finally be over.

9. [+22, -0] As the saying goes, you can't expect the water at the bottom to be clean when the source isn't. Everyone learns. His artists learn from him. YG needs to be thoroughly investigated, pay their tax dues, and be sent to jail.

10. [+21, -3] This is what happens when you let a guy who only knows how to dance run a company...


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Why does it feel like karma has finally caught up on YG and that it is finally beating the shit out of him for all of his lies, deceptions and disgusting shit that he's done and said over the years?

No wonder that YHS and his brother were destroying evidence before the investigations into Seungri landed at their own door stop. Sorry I mean doing regular server maintenance and disposal of old documents.... The only way that this company will ever regain its image with the public now is if there's a complete overhaul of the upper management. Because stocks are plummeting as I speak and it isn't look at all right now for YGE.
 

Day

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If this witch hunt hurts BLACKPINK in any way I s2g.
 

mysteric

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YG is having quite a field day this past week or so ;-;
 

SeulPika

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what’s up with yg artists/yg and crimes?
Its time that they cleaned up the company. And you do that by starting with the upper management.Shit flows down from the top as they say......

If this witch hunt hurts BLACKPINK in any way I s2g.
Well if there ever was the chance of a Blackpink comeback this month then that could now be delayed.. But if they do make a comeback then I am slightly concerned about the negative reaction that they might receive from the Knetz/public....
 
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YG has snatched SM's shady title
 
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Can blackpink somehow leave YGE. Their hard earned money shouldn’t be going to this criminal.
 
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Can blackpink somehow leave YGE. Their hard earned money shouldn’t be going to this criminal.
Save YG groups and solos 2k19
Edit: no really though. Who's contract is ending and will be saved? Also the trainees in the basement need rescue
 

SeulPika

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Can blackpink somehow leave YGE. Their hard earned money shouldn’t be going to this criminal.
No wonder he hasn't had the time or resources to give Blackpink, CL, Suhyun or Lee Hi comebacks. He's been too busy pumping their hard owned money into his shady businesses....

At this point I want Teddy/The Black Label to break away and take Blackpink with them. Meanwhile CL, AKMU and Lee Hi should go to agencies that would actually appreciate their talents.
 

taemkitten

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YG following LSM's footsteps I see. #SMistheREVOLUTION
 
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Can Teddy leave and takes BP with him? :pandanoreaction:
But seriously,this doesn't seem accidental at all
Someone is targeting the company,I'm sure
 

blueberries

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I don't see this as serious to company though, seems like YG's own business and YGE has been caught and even fined for tax evasion before so what's new ^^;

In terms of Club X, I don't think they mean Burning Sun? If they mean that's bad for YG to be caught on, but in terms of clubs and businesses I think people often have wrong picture of Seungri's business and just think he has one club and one ramen restaurant when in reality he has several different clubs and club brands for example Monkey Museum and his Aori Ramen has over 50 locations now. So I think this is likely another club he has and they are just dragging it cause of Seungri's name now.
 
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Is he finally going to jail instead of suing people that 'defame' him..? What about his brother who is the current CEO because I don't think he is innocent in all these 'mistreatment' to their artist.. I hope they both rot in prison and all their idol finally can get their CB/album/tour they deserve...

I am praying to god Jihyo now for this to happen..:sanapray:

12311
 

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