The investigation began seven years ago.
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Yang Hyun Sukthe founder and executive producer of YG FunHe was accused of failing to declare luxury watches worth hundreds of millions of won when importing them into South Korea.
According to the Busan District Prosecutor’s Office, Yang is accused of importing two high-end Swiss watches from Singapore in 2014 without reporting them to customs. The charges fall under customs violations, and Yang was charged without detention.
The investigation dates back seven years, when it was discovered that an Asian distributor, named “A”, had imported several luxury watches into Korea without going through the proper customs procedures. This investigation was delayed for several years, as “A” did not return to Korea during this period. Recently, however, the distributor returned to Korea, believing that the statute of limitations had expired, which prompted the authorities to resume the case.
Ultimately, the prosecution decided to indict Yang just days before the statute of limitations in the case expired.
In response to the indictment, YG Entertainment expressed disappointment with the decision, criticizing the timing and manner of the charges. The company noted that Yang had cooperated with the investigation in 2017 and voluntarily handed over the watches in question to the authorities.
We regret the hasty and excessive indictment issued shortly before the expiration of the ten-year statute of limitations.
— YG Show
YG also expressed concerns about the investigative process, stating that the distributor’s testimony had changed several times, but that the prosecution had continued to proceed without carefully examining all the facts.
They argued that Yang had no intention of evading the law and had proactively submitted the evidence to avoid legal complications. The company stressed that the decision to charge lacked careful consideration of the surrounding circumstances.
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