Yang Hyunsuk Indicted for Failing to Declare Two Expensive Swiss Watches at Custom
Yang Hyun-suk, the Chief Producer of YG Entertainment (YG), has been indicted for failing to pay taxes on several high-end luxury watches received as gifts abroad. The prosecution, which has only now filed charges for an incident that occurred 10 years ago, has been criticized by YG for the delay.
On the 13th, the Busan District Prosecutor’s Office for Public and International Crimes (Chief Prosecutor Yoon Guk-kwon) announced that Yang Hyun-suk has been charged with violating the Special Act on the Punishment of Specific Crimes (Customs). Yang is accused of receiving two expensive Swiss watches from a company in Singapore in 2014 and bringing them into Korea without declaring them to customs.
YG Entertainment expressed their discontent with the prosecution’s decision, stating, "We deeply regret the hasty and unreasonable indictment just before the 10-year statute of limitations expires."
They further explained, “In 2017, Yang Hyun-suk fully cooperated with the investigation and, wishing to avoid any issues as a public figure, voluntarily submitted all the sponsored watches to the investigating authorities.” YG claimed that during the investigation, the representative of the involved company frequently changed their statements, and the prosecution had hastily concluded and indicted Yang based on the assumption that the sponsored items were brought into the country without customs declaration, without properly questioning witnesses.