On the afternoon of June 3, former CEO Yoo of investment company Yuri Holdings attended his first court hearing for various charges related to club 'Burning Sun', alongside his legal representative.
Yoo is publicly known for his former position as joint CEO of Yuri Holdings along with his former business partner, Seungri. Yuri Holdings directly handled investment and monetary matters of club 'Burning Sun'. Additionally, Yoo is also known as actress Park Han Byul's husband.
During his first court hearing attendance on June 3, Yoo admitted to all of his charges related to 'Burning Sun' including embezzlement of business funds, solicitation of prostitution, violations of food business laws, violation offense of economic restrictions, etc. Yoo and his legal representative also stated their intentions to submit a written document specifically detailing Yoo's roles in his criminal charges including the severity and degree of each charge, in order to aid in the judges' sentence decision.
Previously, Yoo and his former business partner Seungri were charged and indicted with soliciting prostitution for foreign clients between the years 2015-2016, then for embezzling funds from 'Burning Sun' for personal leisure, etc.
Yoo's former business partner Seungri will attending court hearings separately through the the federal court's military branch, as he is currently carrying out his mandatory military service.