YG CEO Yang Min Suk is speaking out about tax evasion charges before shareholders meeting.
YG Entertainment CEO Yang Min-Suk, who met with reporters ahead of the YG Entertainment general shareholders' meeting on the 22nd held at a building in Yanghwa-ro in Mapo-gu, Seoul said he is seriously thinking about recent company-related issues such as allegations of tax evasion. Yang Min-Suk is the younger brother of Yang Hyun-Suk, YG Entertainment's representative producer.
"We are very serious about this issue," said CEO Yang Min Suk, who appeared in the black suit to attend the general meeting of shareholders. "We are currently investigating related institutions and we'll be faithful to the investigation." "I hope that this investigation will reveal more clear facts," he said. "I also hope that I will have a chance to talk about my further positions and future plans once the comprehensive results come out."
When asked about tax evasion allegations regarding Love Signal club Yang said, "sorry" and stated that the issue is currently "under investigation." When asked about Burning Sun allegations hesaid, "We are in the process of conducting an investigation." When questioned about their denial of Seungri's katalks that they initially denied that turned out to be true he said, "I don't think that was the case. I take social responsibility very seriously but I will tell you about that part later."
When asked about the various controversies from YG Entertainment, he said, "We will do our best for the interests of the shareholders and increase the shareholders value through our schedules. As for the fact that the national pension has suffered a loss due to the stock price plummeting, it is not a matter we can discuss."
When asked about the YG shareholders meeting to be held on that day to decide whether to replace him and his brother,he said, "I think it will be decided through the general meeting of shareholders today," and answered questions about the remaining doubts. "If the facts are revealed, we will be able to make a stand."
In the meantime, the general shareholders meeting to be held on the 22nd will decide the fate of YG Entertainment as the shareholders will decide whether to replace YG Founder and representative Yang Hyun Suk who holds 19.07 % stock and his brother Yang Min Suk CEO who holds 3.92%.