The investigation began seven years in the past.
Koreaboo
Yang Hyun Suk, the founder and government producer of YG Leisure, has been charged with failing to declare luxurious watches value a whole lot of thousands and thousands of gained upon bringing them into South Korea.
In response to the Busan District Prosecutor’s Workplace, Yang is accused of importing two high-end Swiss watches from Singapore in 2014 with out reporting them to customs. These expenses fall beneath violations of customs rules, and Yang has been indicted with out detention.
The investigation dates again to seven years in the past when it was found that an Asian distributor, known as “A,” had imported a number of luxurious watches into Korea with out going by correct customs procedures. This investigation was delayed for a number of years, as “A” didn’t return to Korea throughout this time. Just lately, nevertheless, the distributor returned to Korea, believing the statute of limitations had expired, which prompted authorities to renew the case.
The prosecution finally determined to cost Yang simply days earlier than the statute of limitations on the case expired.
In response to the indictment, YG Leisure expressed their disappointment with the choice, criticizing the timing and method of the costs. The corporate identified that Yang had cooperated with the investigation again in 2017 and had voluntarily handed over the watches in query to authorities.
We remorse the rushed and extreme indictment simply earlier than the 10-year statute of limitations expired.
— YG Leisure
YG additionally raised considerations concerning the investigation course of, stating that the testimony of the distributor had modified a number of occasions, but the prosecution had pushed ahead with out completely reviewing all of the info.
They maintained that Yang had no intention of evading the legislation and had proactively submitted the gadgets to keep away from any authorized issues. The corporate emphasised that the choice to indict lacked cautious consideration of the encircling circumstances.
Share This Submit
