YG Entertainment to support Seungri

YG Entertainment, Seungri’s management company, told the Korean media Tuesday, Jan. 5 that Seungri’s real-estate related investment fraud is his private matter, yet pledged to provide him with support.

Seungri was astounded,” said an official from YG Entertainment. “We will take every measure to prevent him from sustaining any further financial damages.

Seungri of Big Bang (YG Entertainment)

Seungri of Big Bang was damaged by an investment fraud case, leaving him with a burden of 2.05 billion won ($1.73 million) in total. He filed a lawsuit against retired singer Shin Eun-sung on Monday to recoup the lost funds.

Shin, a 33-year-old retired female singer, allegedly talked Seungri into investing 2 billion won in a real estate business in June 2014. Two months later, she asked Seungri for an additional 50 million won for founding an investment firm.

Seungri agreed to Shin’s suggestion, as they had known each other for a long time. But he became suspicious as the investment firm never materialized.

Shin, who last year shut her own entertainment firm, could not be reached for comment.

Shin released two albums, “Go Away” (2003) and “Bye Bye” (2004), in her singing career.

Ji-hyoung Son
The Korea Herald