Although Yang Hyun-suk, YG Entertainment’s executive producer, denied a special tax investigation, it seems such an audit is indeed underway.
Earlier this week, YG Entertainment’s executive producer Yang Hyun-suk refuted news that the agency was subject to a tax audit at the hands of the National Tax Service(NTS). In an online post, Yang said that the reports were essentially fake news. He commented that what one person posted online is now being accepted as fact and that “it’s different from the truth.”
His statement now contradicts information from industry sources. On Wednesday, the NTS reportedly sent investigators to YG’s headquarters in Hapjeong, a neighborhood in the Mapo district. Furthermore, it is reported that NTS deployed these agents without prior notice to obtain financial and accounting data for their investigation.
Asked about the tax probe, an agency spokesperson that it will “sincerely” cooperate with the audit.