YG CEO Yang Min Suk Reveals His Thoughts On Seungri’s Scandal Ahead Of YG Entertainment’s Shareholders’ Meeting

YG’s CEO shared his thoughts.

Yang Min Suk met with reporters ahead of YG Entertainment‘s shareholders’ meeting to discuss some of the recent developments, including Seungri‘s Scandal and both YG Entertainment and Yang Hyun Suk‘s tax evasion investigations.

I will do my best to value the interests of the shareholders.

I believe this issue is very serious. I will faithfully engage in the investigations regarding the recent scandals.

I hope these investigations will shed a clearer picture of the facts about the case. After I receive the full results of the investigations, I hope to have the opportunity to reveal our position and future plans following the scandals.

— Yang Min Suk

Yang Min Suk was then asked about the special audits YG Entertainment was undergoing.

About the tax evasion investigations, I cannot say anything because the investigation is undergoing.

— Yang Min Suk

He declined to comment on the tax evasion investigations involving his brother, Yang Hyun Suk. Yang Hyun Suk is currently being investigated for evading taxes on his numerous clubs, registering them as general restaurants instead of adult entertainment venues.

Sorry.

— Yang Min Suk

He announced YG Entertainment will release a statement in the future on what the company feels their social responsibility is, and how YG Entertainment will try and regain the value their shareholders lost.

I have a strict view on what our company’s social responsibility is, but we will release a statement about that later.

I will do my best for the interests and values of our shareholders, and in the future, will do my best to help them increase the value of their stocks through our planned schedules.

— Yang Min Suk

Finally, he was asked whether he was confident he would remain as CEO of YG Entertainment.

It will be decided through the shareholders’ meeting.

— Yang Min Suk

YG Entertainment’s shareholders’ meeting is currently underway.

Source: Yonhap

Seungri Scandal