YG Entertainment CEO Yang Min-suk retains position at shareholders' meeting

YG Entertainment's chief executive Yang Min-suk managed to retain his position at the company's annual shareholders' meeting on March 22, 2019.
YG Entertainment's chief executive Yang Min-suk managed to retain his position at the company's annual shareholders' meeting on March 22, 2019.PHOTO: YG FAMILY / FACEBOOK

SEOUL - YG Entertainment's chief executive Yang Min-suk had been criticised over scandals affecting its artist Seungri and the fall of the company's share price.

But despite talk earlier in the week that Yang might be forced out, he managed to retain his position at YG's annual shareholders' meeting on Friday (March 22).

According to lifestyle portal Soompi, Yang told reporters, when he turned up for the event, that he was taking the concerns of the shareholders "very seriously".

"Investigation is currently taking place from the (authorities) and I will participate... diligently."

YG has been slammed for not monitoring the activities of Seungri closely. It has terminated its contract with the singer who is facing a police probe over the provision of sexual favours to would-be investors of his Burning Sun club.

The K-pop scandals have forced four artists, including Seungri, to retire from showbiz.

Singer Jung Joon-young was arrested on Thursday (March 21) over allegations that he filmed and shared videos of 10 women in sex acts.

 
 

On Friday, Yang said: "When the results (from the investigation) come out, I hope that there will be an opportunity for me to announce my additional statement and plans for the future."

When he was asked whether YG tried to avoid paying taxes, he added that the matter was being probed by the authorities.

He assured shareholders that "we will do our best (to protect) the profits of our shareholders, and through our plans, we will improve our shareholder value."