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Yang Hyun-suk, founder of Korean agency YG Entertainment, was fined 15 million won ($ 13,600) by a Seoul court for playing multiple times in Las Vegas.
In a decision on November 27, Judge Park Soo-hyun of the Seoul Western District Court imposed the fine on Yang. Two other co-defendants were also fined 15 million won each, while another was fined 10 million won ($ 9,000).
The judge said that Yang’s behavior could have negative effects on the general public and young people. The court said Yang and others played abroad for four years.
The four defendants played in Las Vegas about 20 times from July 2015 to July 2019 and spent around 400 million won ($ 362,000), according to Yonhap News.
Under the law, Koreans are prohibited from gambling in their own country and abroad, except at the Kangwon Land Casino in Gangwon, South Korea.
The country’s Criminal Law law establishes that “the person who commits the crime of gambling will be punished with a fine not exceeding ten million won. [about $9,000]: Provided, That gambling for a simple pastime shall be exonerated from punishment ”.
Regular gambling is punishable by a prison term of up to three years or a fine of up to 20 million won (about $ 18,000).
On June 14, 2019, Yang Hyun-suk retired from YG Entertainment due to a controversy that involved one of the company’s artists.
“I am so sorry for the fans who love YG and its artists. I sincerely apologize to all of our employees who have been working quietly amid these criticisms. In the last 23 years and half of my life, I have dedicated everything to grow YG. I’m going to leave all my posts and duties at YG today. I sincerely hope there is no more harm to the YG artists that I love and to all the fans who love them because of me, ”Yang said in a statement.
His brother Yang Min-suk, CEO of YG Entertainment, also resigned from the company, saying, “After deliberating on this situation, I decided to resign as CEO of YG Entertainment, which I have been holding for a long time.”
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