Let’s Meet With The Founder of The Big South Korean Hip-hop Agency Who is Currently Involved in The Big Case: Yang Hyun-suk
Undeniably, Yang Hyun-suk is one of the founders of the most successful entertainment agency in South Korea. Through his cold hands, he successfully debuted talented K-Pop idol groups such as BIGBANG, 2NE1, Winner, iKON, and Blackpink. However, the husband of former Swi.T girl band member, Lee Eun-ju, was often hit by various scandals and controversies, which eventually made Yang Hyun-suk resign from his position at YG Entertainment.
Yang Hyun-suk was born on December 2nd, 1969. He is a music maestro, musician, and record producer from South Korea. He was famous as a member of Seo Taiji and Boys in the 1990s. After the group disbanded, in 1998 he founded and became the CEO of one of the biggest record companies in South Korea, YG Entertainment. Yang Hyun-suk has produced many artists who have had great success under his company, such as Jinusean, 1TYM, Se7en, Big Bang, 2NE1. After 2012, the company recruited Lee Hi, Akdong Musician, WINNER, iKON, Bang Ye-dam, and Katie Kim under their label. YG Entertainment is also preparing their latest boy group which will debut from the survival program YG Treasure Box, which is TREASURE13.
In this article, Channel-Korea will provide you with details about the gambling case that recently happened to Yang Hyun-suk. Here are details about the case, stay tuned!
Relation to Seungri’s Case
YG Entertainment’s former CEO, Yang Hyun-suk, is said to have been involved with Seungri’s prostitution case. He is also said to have provided prostitution services for his clients. This was revealed by MBC through a program titled Straight. In the excerpt released, a harassment case was revealed by one of the rich people in Thailand in 2014.
Yang Hyun-suk and one of YG Entertainment’s former artists are allegedly involved in this case by providing sexual services to VIP clients from Southeast Asia. There were about 8 men who were said to have attended the meeting, including Yang Hyun-suk and one of YG Entertainment’s former artists. Twenty-five women were provided for the men.
At least 10 of the girls have contacts with adult entertainment suppliers in South Korea who have connections with YG Entertainment. In a previous investigation, Seungri allegedly provided prostitution services to a number of overseas clients. At that time, he was proven to have used a credit card belonging to YG Entertainment.
Yang Hyun-suk’s Illegal Gambling
Yang Hyun-suk and former BIGBANG member Seungri were reported for alleged illegal gambling cases at MGM Hotel Casino Las Vegas!
Former YG Entertainment CEO Yang Hyun-suk and Seungri reportedly received an examination from the Korean Police on a case of alleged illegal gambling at MGM Hotel Casino Las Vegas. On August 8th, 2019, one of the Korean news stations mentioned that Yang Hyun-suk had visited the VIP room at MGM Hotel Casino Las Vegas 11 times. To get VIP room member status, Yang Hyun-suk reportedly had to spend up to 1.5 billion won.
Yang Hyun-suk is also said to have bet more than 1 billion won and lost around 600 million won. While Seungri is said to have visited the VIP room 4 times in the same hotel as Yang Hyun-suk. He bet up to 2 billion won and lost around 1.3 billion won. Seungri is said to play a lot of Baccarat (card games). And according to the report, both Yang Hyun-suk and Seungri, for one play, can bet 3 to 10 million won. Then according to a JTBC report, the Korean police revealed, thanks to cooperation with the Nevada casino, it had obtained complete data on when Yang Hyun-suk and Seungri entered the casino, how many times they gambled, how much they gambled, and how much they lost.
The Korean Police also stated that the handling of the case had been changed from an internal investigation to an official investigation and they would immediately summon Yang Hyun-suk and Seungri for questioning. Earlier, the Seoul Metropolitan police reported, it was conducting an internal investigation into Yang Hyun-suk’s illegal gambling case by checking suspicious flows of funds from Yang Hyun-suk. According to the police, the investigation had begun in April after receiving reports that Hyun had gambled abroad. Then the Financial Intelligence Unit (FIU) checked Yang Hyun-suk’s account cash flow.
From the results of the FIU examination, a transaction of 1.3 billion won was found. Transactions are made by creating Korean and American bank accounts, entering won and spending dollars, this system is called a double account, Ilyo Shin-mun reported. While Dispatch revealed, Yang Hyun-suk borrowed dollars from America and played baccarat. When he wins he spins the money again for gambling and when he loses he pays it in Korea. “There is no need to bring money to gamble. Dollars can be borrowed locally and paid in Korea. Yang Hyun-suk is known as a ‘hand trader,’ Yang Hyun-suk himself is the one who sends money from his double accounts,” said an anonymous source as reported by Dispatch.
When contacted by Dispatch, the police revealed that they were analyzing data from FIU and were collecting evidence from various countries. In addition, in his report, Dispatch also revealed Yang Hyun-suk had gone to Las Vegas with PD Mix Nine, Han Dongchul, and his staff after the event was over. A witness said, “At that time, Mix Nine participants did not have the certainty of their debut and Yang Hyun-suk played baccarat in the VIP room of the MGM hotel Casino.” South Korea adheres to the Territorial Principles, therefore Koreans can be punished for gambling abroad even though such actions (gambling) are not considered illegal according to local state law.
Investigation From the Police and the FBI
South Korean police have secured documents confirming the illegal activities of Seungri and Yang Hyun-suk abroad. They requested assistance from the Federal Bureau of Investigation (FBI) and obtained more than 500 documents which proved that Yang Hyun-suk and Seungri illegally gambled in Las Vegas and Yang Hyun-suk conducted illegal foreign currency exchange transactions. Based on the FBI data, Yang Hyun-suk lost around 600 million won and 1.3 billion won respectively, due to gambling in Las Vegas. Yang Hyun-suk visited the casino VIP room at the MGM Grand Hotel in Las Vegas in October 2017 and February 2018. The South Korean music maestro is suspected of obtaining gambling funds through “fund managers” in the United States.
The police believe that every time Yang Hyun-suk goes to the US, he stays for about a week there and will go to the casino every time. An employee from the casino marketing department confirmed to Korean police at the FBI request that Yang Hyun-suk visited the casino several times. The employee also told the police that Seungri allegedly lost more than 1.3 billion won in gambling at the same hotel-casino several times. On this information, the police are looking into the possibility that Yang Hyun-suk and Seungri might be involved in large-scale illegal gambling activities in other places besides Las Vegas.
Previously, founder of YG Entertainment, Yang Hyun-suk was officially named a suspect in providing prostitution services. He was suspected of committing a crime by becoming a mediator of sexual services to a number of businessmen in September 2014. “We have analyzed various reports and data that indicate the allegations,” said a source in the police as quoted by Soompi. In addition to the reports and confessions of a number of witnesses who have been examined in this case, the police also adhere to financial data, aka transactions that took place in Yang Hyun-suk’s account. The police have investigated Yang Hyun-suk’s expenditure report and members of YG Entertainment in September 2014.
In the report, the police found evidence of spending on commercial sex worker services. There was also the recognition of several prostitution service providers who took part in a trip to Europe with Yang Hyun-suk and his business partners in October 2014. Yang Hyun-suk was examined related to this case on June 26th, 2019. At that time, he was examined by police officers for nine hours. After being questioned, Yang Hyun-suk denied all the accusations. Yang Hyun-suk explained that in September – October 2014 he often had meetings with famous producers.
Korean Policy on Gambling
Korea is one of the few countries in the world that distinguishes Korean citizens and foreigners with regard to the legality of gambling through gambling locations. Casino gambling, for Koreans, is legally prohibited in all but one casino. However, foreigners can gamble in various casinos located in most major tourist cities. In South Korea, gambling is a crime under Chapter 23 of the Criminal Law.
Korean criminal law applies to Korean citizens throughout the world, thus Korean citizens are even prohibited from gambling outside Korea. Prosecutions, for overseas gambling by Koreans, sometimes occur, but these prosecutions, usually, are part of a more substantial charge against the individual. The only exception for Koreans for Gambling Law is casino gambling in Kangwon Land. The Special Law on Assistance for the Development of Abandoned Mines sets the legal framework for the development of the Kangwon Land casino and related laws and allow Koreans to protect this casino. This casino is in a remote area a few hours south of Seoul.
However, foreigners can gamble at any casino that is officially established in Korea. The Tourism Promotion Act establishes a legal framework that allows the establishment of casinos throughout Korea to be used by, solely, foreigners. Koreans have the opportunity, in Seoul and in many big cities, to bet through the lottery, ToTo, horse racing, motorboat racing, and bicycle racing only.
The Police Didn’t Find Enough Evidence About Yang Hyun-suk’s Prostitution Service Provision Case!
The police gave their latest statement regarding the results of the investigation into the case of suspected prostitution of Yang Hyun-suk. Previously, the former CEO of YG Entertainment had allegedly provided prostitution services to foreign investors.
Now the police stated, “There were no witnesses who claimed sexual relations were carried out in Korea on July 9th, 2014. But there were witnesses who said that sexual relations were carried out abroad in October 2014. But it was very difficult to establish it as an act of prostitution, after gathering statements from witnesses and because the trip they took was like a normal holiday.”
After checking YG Entertainment’s financial records, the police claimed that they had indeed found financial transactions, but the amount was not enough to prove the existence of prostitution services. In addition, from July to October 2014 there are indeed records that prove that Yang Hyun-suk met with investors from Southeast Asia. But there is no evidence that is directly related to prostitution. After being investigated, the police also found that the entertainment obtained by investors when visiting Korea came from their own pockets, and not from YG Entertainment.
Finally, the police said, “Because of the statute of limitations, we have submitted the file to the prosecutor based on the results of the investigation to date. The prosecutor will make the final decision through further investigation.”
That was all the information about the gambling case that recently happened to Yang Hyun-suk. Please, don’t forget to kindly share your thoughts in the comment section below!