44

18

News
Posted by emmamadison2410,374 pts Thursday, March 21, 2019

YG Yang Min Suk breaks his silence about tax evasion and more ahead of the general shareholders meeting

USER CONTENT

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%.

  1. Yang Hyun Suk
58 30,765 Share 71% Upvoted

20

FandomUnKnwn1,214 pts Thursday, March 21, 2019 12
Thursday, March 21, 2019

Please let the shareholders do what they need to and vote against them. And someone, anyone, needs to buy out their shares as well. If they remain within the company in anyway, every YGE artist will be boycotted by fans and I really don't want that to happen.

Share

12 more replies

15

rlbm360 pts Friday, March 22, 2019 1
Friday, March 22, 2019

Uhm.. check other sources - the EGM is over!

He kept his job. (Guess its not much of a surprise)

From the main shareholder's perspective, YG Ent. is profitable, with plenty of talent about to debut. A new 'outside director' was appointed to help monitor things. So far, Seungri's scandal hasn't affected other YG artistes or business as a whole. Pulling both brothers out now (this early in the investigation) would put the company on free-fall.

Most importantly, the shareholders can call another EGM anytime if investigations take a turn for the worse against YG Ent.

https://www.soompi.com/article/1311917wpp/yang-min-suk-maintains-position-as-yg-entertainments-ceo

Share

1 more reply

SHOW ALL COMMENTS

MC Mong
23 minutes ago   0   281
JBJ95
55 minutes ago   0   283
Kim Hyun Joong
11 hours ago   37   13,871
Bang Yong Guk, G-Dragon, Zico, Ilhoon, SUGA, RM (Rap Monster), Jooheon, Song Min Ho (Mino)
19 hours ago   291   134,823

allkpop in your Inbox

New Message

SEND