Yang Hyun Suk has been indicted on charges of smuggling high-end watches from abroad in 2014, according to the Busan District Prosecutor's Office. According to the Korea JoongAng Daily, Yang Hyun Suk allegedly received two watches "worth hundreds of millions of won" as gifts in Singapore and brought them to Korea without reporting them to customs.
The case came to light when the Busan Customs Service discovered that a watch manufacturer had imported a large number of watches without declaring the products to the customs service. The case of YG Entertainment's chief producer is also being investigated as part of the manufacturer's tax evasion case.
The investigation was slowed down because the manufacturer's CEO was overseas, according to prosecutors. YG Entertainment denied the allegations, stating that the watch was given to Yang Hyun Suk for promotional purposes and that he wore it on television in return.
"We deeply regret the prosecutor's hasty decision to make an indictment right before the 10-year statute of limitations was about to expire," YG Entertainment said. "Yang Hyun Suk has faithfully participated in the investigation in 2017 and voluntarily handed over the watch to investigators so as not to be involved in even the smallest problems as a well-known figure," they explained.
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