Yang Hyun Suk Indicted For Allegedly Smuggling Expensive Watches Without Declaring Taxes
Yang Hyun Suk, YG Entertainment’s executive producer, has been indicted for allegedly receiving expensive luxury watches abroad without paying taxes.
On the 13th of September, the Busan District Prosecutor’s Office (Public and International Crime Investigation Division) revealed that Yang had been charged without detention for violating the Customs Act under the Specific Crimes Aggravated Punishment Act.
In 2014, Yang allegedly received two Swiss luxury watches from a company in Singapore and brought them into Korea without declaring them to customs. This case surfaced in 2017 when the company was caught by Busan customs for bringing in watches without proper clearance. It was reported that Yang was investigated for bringing in the watches without declaring them.
The case had been delayed due to the company’s representative being overseas, but investigations resumed after their return to Korea in July. Yang’s defense claims he was asked to promote the watches and received them as sponsorship. YG Entertainment expressed regret over what they consider to be a hasty indictment, just before the 10-year statute of limitations expired. They stated that Yang cooperated fully in the 2017 investigation and voluntarily submitted the watches.
YG also criticized the prosecution for relying on inconsistent testimonies from the company’s representative and not conducting thorough investigations of witnesses. They argue that the prosecution unjustly concluded that the watches were smuggled without customs declaration.
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