YG CEO’s Illegal Gambling Case Shocks the K-Pop Industry

Exactly a year ago, a report went viral that reported that there was an illegal gambling case involving the CEO of one of the largest agency companies in South Korea, YG. 

This case went viral because there were lots of netizens who shared various online links about this case on various social media. It seems that until now, the vortex of the YG illegal gambling case has often become the subject of conversation, especially among K-Pop lovers.

The Beginning of the Revealing of YG CEO’s Illegal Gambling Case

The vortex of the illegal gambling case involving YG was initially revealed when a number of data were found showing the use of funds in several casinos in Las Vegas, Nevada. After being investigated by the South Korean police, the CEO of YG, Yang Hyun-Suk, was proven to be involved in this case. He was proven to be playing illegal gambling in Nevada with his two artists, namely Hang Don-Chul and Seungri. 

Still sourced from investigations from the South Korean police, the funds used for gambling are suspected to be funds that have been generated by YG Entertainment artists. These funds are obtained from various concert tours (especially concert tours abroad) and the debut results of YG artists. 

Regarding the vortex of the YG Entertainment CEO’s illegal gambling case, the data obtained by the South Korean police is quite complete and detailed. This data will later become authentic evidence to go to the next stage. Based on this data, the police obtained detailed information about the amount of money used, the frequency with which YG played gambling, details of the amount of money each time he played, how many times YG won gambling, and how many times YG lost, and so on. 

Source : Slot 88

YG CEO Uses the ‘Hwaching’ Method

The vortex of the YG Entertainment CEO’s illegal gambling case also shows the possibility of other methods being used by YG to get bigger gambling profits. It seems common knowledge that there is a method called ‘hwaching’ which is commonly used by gambling players in Las Vegas.

‘Hwaching’ is a method that uses illegal foreign exchange transactions. YG is suspected of depositing some money in the form of Won to a ‘hwaching’ provider. It is also alleged that he received funds in US dollars from other dealers. 

Read also: South Korean Artist Gambling Scandal

Channel A, one of the sources from the police, said that it will continue to explore the possibility of money being bet by YG and profits made by YG artists while holding major concerts in the US. Whether the two have a relationship or not. Channel A is also investigating the funds used by the agency while in the US.

The vortex of the YG Entertainment CEO’s illegal gambling case also dragged YG’s sibling, Yang Min-Suk, who apparently has been targeted by the South Korean police for being involved in tax evasion and prostitution cases. 

Chronology

YG CEO Yang Hyun-suk last August was dragged into an illegal gambling case with two YG Entertainment artists in Las Vegas, Nevada. He and his two children were proven to have carried out illegal foreign exchange transactions. Seungri and Han Dong-chul were also proven to be involved in this illegal gambling case. 

Before the vortex of the YG CEO’s gambling case appeared, Seungri was reportedly very fond of gambling. However, he denied the news. He then said that it was fake news. The disclosure of this case is certainly a bitter blow for YG Entertainment. Moreover, not to mention this, YG Entertainment and Seungri were also involved in a case that was again viral among K-Pop lovers, namely Burning Sun early 2018. 

The Burning Sun case apparently also dragged the names of YG Entertainment artists. Call it the case of drug possession, artist prostitution, and tax evasion. These cases were busy in the K-Pop entertainment universe around the world, including Indonesia. 

K-Pop itself is an interesting phenomenon that has persisted until now. Various K-Pop entertainment products have even penetrated to various countries through various Korean series or dramas, music that is carried by South Korean boys and girl groups, and even the world of South Korean cinema is on the rise. 

Remember the only Korean film by a South Korean director named Bong Joon-ho, Parasite? So true. The film Parasite won 4 award categories at the 2020 Oscars. 

Many gambling cases that drag artis can be a life lesson for all of us. The practice of illegal gambling seems to easily ensnare important, successful, and rich people like this YG CEO. And you can see the devastating impact on the career and business that Yang Hyun-suk has built since he was young. 

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