YG Entertainment Is Officially Under Tax Investigation
The National Tax Service (NTS) has officially started their investigation on YG Entertainment, sending an investigator to the YG Entertainment headquarters in Mapo-gu to secure tax documents from the company.
The investigation will be led by the Seoul Regional Tax Office Team 4, which is in charge of special investigations.
YG Entertainment is currently suspected of tax evasion, and Yang Hyun Suk has previously commented on reports of a special investigation against him.
I have not received a special tax investigation notice. Someone said something about it in a discussion forum, and it appears it was taken as it was true. I have regularly been investigated by tax auditors, but a special tax investigation is nothing but a rumor.
— Yang Hyun Suk
YG Entertainment founder Yang Hyun Suk and his brother Yang Min Suk are evading taxes by registering their clubs as restaurants, not adult entertainment businesses. The Yang brothers’ company for these clubs, Corporation A, own at least 4 clubs, including Love Signal, Gabbia, Moon Night and Samgeori Byulbam.
The NTS has declined to comment on the case.
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