The corporate representative of Yang Hyun Suk's bars and club has been convicted.
On August 23 KST, media outlets reported that a representative of two bars and a club owned by YG Entertainment's former CEO has been charged guilty of several crimes. As the CEO of 'seeDNA', Mr. Kim (52) has worked under Yang Hyun Suk to manage the bars 'Three-way Pocha', 'Three-way Starry Night', and the club 'Gabbia', all located in Hongdae.
Since the founding of 'seeDNA' in 2012, which owns 70% of the three said businesses, Mr. Kim has evaded taxes amounting up to over 7,000 KRW and written up fake tax invoices to receive cash returns of 7,400 KRW. He has also failed to report additional incomes by redirecting them to his wife's or acquaintance's accounts. Such actions have resulted in further tax evasion amounting up to about 5,900 KRW.
Furthermore, it has been revealed that Mr. Kim embezzled corporate funds totaling up to about 649,700,000 KRW.
As a result of his proven felonies, Mr. Kim has been sentenced to 1 year and 6 months of imprisonment and 2 years of probation, along with a penalty of 2,000,000 KRW.