yg Entertainment (hereinafter referred to as yg) was caught up in old theory again, and this time, it is pointed out that it attempted tax evasion through a name of a car transaction suspicion.
On May 5, SBS News reported that when yg was listed in the past, company executives and outsiders borrowed the name of the employees and used the employee stock as a name of a car.
Companies listed on the stock market first allocate some of their issued shares to employees as employee stock.
However, yg confirmed that executives and outsiders used the employee stock as a name of a car in the process of allocating 210,000 employee stock to employees before listing, and the National Tax Service confirmed that they made profits.
In particular, according to the National Tax Service investigation, Hwang Moo, who is currently the CEO of yg, is said to have sent his husband's friends to Kim to hide a name of a car while upholding stocks in the name of his subordinate Kim.
In addition, the profit from selling stocks is left in Kim's account, and the situation of the construction cost and living expenses is also known.
It is not only that, but also Yang Min-seok, a close associate of the former president, confirmed that he also named the stock in the name of the employee.
The existence of a name of a car stock is said to have been caught in the process of tax investigation of the so-called "burning sun situation" involving the former member of the group Big Bang in 2019.
SBS News has contacted yg to hear the explanation of this fact, but yg is consistent with silent answer.
yg said, "It was inevitable that the demand for employee stock subscriptions of all listed employees would be disrupted by funding." It was not the purpose of tax evasion, but the National Tax Service did not accept this claim.
yg, which has greatly lost its image due to the Burning Sun incident following the illegal activities of its artists, has been on the board of business management ethics, and various controversy has not ceased and has not been able to wash the stigma of 'unethical company'.