News Why "Boycott YG" Is A Joke (1 Viewer)

[VillageIdiot]

SM Entertainment's Lee Soo Man under fire for 'suspicious internal transactions'

SM Entertainment's Lee Soo Man is currently under fire for 'suspicious internal transactions.'

On May 29, reports alleged Lee Soo Man holds 100% of the stock in a ghost company 'Like Plan'. The SM Entertainment head stands accused of funneling 44% of the profits from the music label into the ghost company since 2014 and paying himself 10 billion Won ($8,367,500.00 USD) a year.

Though 'Like Plan' went public in 2000, dividends from the company have never been paid out despite reporting profits that rival SM Entertainment.

In related news, SM Entertainment stocks have reportedly dropped by 28.01% this past year.


1. [+787, -9] There is rarely a big company that plays by the rules. I hope they investigate this fairly and punish them if there's anything illegal going on.

2. [+761, -11] Hmm.. is it SM's turn this time? ㅋㅋㅋ

3. [+611, -9] A man's greed knows no end. How many people who own big companies haven't tried to increase their own wealt

4. [+50, -1] Lee Soo Man has a history of tax evasion and was even on the wanted list by the Interpol. Yang Hyun Suk's dirty but he's really just a speck of dust compared to Lee Soo Man's crimes... Lee Soo Man is the one who has a strong hold on the media. Any negative article about them gets buried within hours... The top 3 are all dirty but everyone knows that SM is just as dirty as YG. They even have control over all the broadcast PDs which is why JYJ has never been able to perform on TV since leaving TVXQ. Lee Soo Man's a big guy.

5. [+39, -4] SM's a trash company

6. [+29, -4] SM = YG

7. [+21, -3] Oh SM has a lot of scandals under their belt, it's just all being kept hush hush ㅋ

8. [+20, -2] Let's go expose SM after YG!!!!

9. [+18, -1] You can't beat SM when it comes to shadiness. Just look at how they turned last year's MBC Gayo Festival into an SM concert ㅋㅋㅋ do you think that came free? I bet if you dig into SM, you'll find things worse than YG..

10. [+15, -0] What is he hoarding all that wealth for? It's not like you take it with you in death.

11. [+12, -0] I'm pretty sure I read this report last year or the year before that

12. [+11, -0] What's it matter when this article will go down in a few hours and people will forget about it again... 80 billion won over 10 years, that's amazing.


Just because YG got caught doesn't mean by any stretch of the imagination that only YGE partakes in those activities nor are they the first. They're just bad at covering it up. There is no moral superiority to be taken just because one stans SM or JYP considering they've both had scandals covered up in really sketchy ways. None of them actually care about their idols.
If you want to take the moral superiority route, don't Stan kpop

 

[Darkyoda47]

The fact that people believe ANY of these even remotely "big" companies are the least bit clean is an absolute joke.

 

[Ahsoka]

If you want to go the morally superior, dont ever give any support or trust anyone in power the slightest. The vast majority of them are taking part in either this or something similar, tax evasion is basically just a fact of life in the modern world.

 

[Hajima]

sis u comparing avoiding taxes with prostitution and drugs is a joke

 

[VillageIdiot]

sis u comparing avoiding taxes with prostitution and drugs is a joke

It's grotesque but that's how most, if not all, entertainment companies operate in Korea. It's been an open secret for years
Plenty of companies have been exposed for that. What makes you think SM or JYP are innocent?

 

[blueberries]

sis u comparing avoiding taxes with prostitution and drugs is a joke

It's grotesque but that's how most, if not all, entertainment companies operate in Korea. It's been an open secret for years
Plenty of companies have been exposed for that. What makes you think SM or JYP are innocent?

From comments from koreans that have risen about the Burning Sun gate and prostitution claims, it seems like "adult entertainment" for business men and investors is common practice in Korea, and well what industry insiders have said as well lot of female idols get forces into sexual sponsorships as well. The thing is that we don't really know exactly all that is going in our favorite labels, ofc I'd like to think they are great people working for artist, but doesn't seem like it : /

Rather than boycot, I think korean police should make criminal investigations more easily and give harsher judgements to companies. But I can't help but think that some goverment body is also blocking them cause hallyu is big thing for Korea's image and exports.

 

[RandAlThor]

This is an old story that was adressed last year.
Sm pays ~5% to a cap of 6% to that company starting in 2015 before that it was 15%of album sales. All reported on the financial statements.

Here's The Truth About Rumors That Lee Soo Man Embezzled 10 Billion Won

Koreans suspected Lee Soo Man was embezzling money from SM Entertainment, here's the truth.

www.koreaboo.com

 

[lexus]

The fact that some people think boycotting YG will do anything just baffles me. So many companies are dirty, but some people just want to ignore it. It's so ridiculous. We shouldn't eat up everything a company is feeding us because a lot of the times we're just given lies.

 

[Darkyoda47]

sis u comparing avoiding taxes with prostitution and drugs is a joke

This is an old story that was adressed last year.
Sm pays ~5% to a cap of 6% to that company starting in 2015 before that it was 15%of album sales. All reported on the financial statements.

Here's The Truth About Rumors That Lee Soo Man Embezzled 10 Billion Won

Koreans suspected Lee Soo Man was embezzling money from SM Entertainment, here's the truth.

www.koreaboo.com

Doesn't change the fact that LSM is wanted by Interpol. You don't get on Interpol's wanted list for no reason lol.

 

[RandAlThor]

The fact that some people think boycotting YG will do anything just baffles me. So many companies are dirty, but some people just want to ignore it. It's so ridiculous. We shouldn't eat up everything a company is feeding us because a lot of the times we're just given lies.

it will do something if it gains traction.
Did it play a part in cl's show getting killed?
There is apparently a lot of anger in Korea over this entire clubbing mess.
Boycotts have killed companies before and they will again.

 

[QueenB]

Yeah SM has been shady since forever and it annoys me to no end that SM stans ignore that

But I agree with @Hajima comparing tax evasion to prostitution is a little much....

Even JYP's cult thing isn't really comparable.

 

[RandAlThor]

Doesn't change the fact that LSM is wanted by Interpol. You don't get on Interpol's wanted list for no reason lol.

was wanted i thought like decades ago, and a semi misunderstanding?
Dude traveled to France aka the home of Interpol in 2012 if they wanted him he was in the conference room of the hotel.

 

[Poetry]

sis u comparing avoiding taxes with prostitution and drugs is a joke

Snow White right here.

 

[Darkyoda47]

was wanted i thought like decades ago, and a semi misunderstanding?
Dude traveled to France aka the home of Interpol in 2012 if they wanted him he was in the conference room of the hotel.

There's a lot more politics to that than you think. One does not simply get on and then magically get off Interpol's wanted list. It ain't magic sis, it's politics and power.

 

[blueberries]

it will do something if it gains traction.
Did it play a part in cl's show getting killed?
There is apparently a lot of anger in Korea over this entire clubbing mess.
Boycotts have killed companies before and they will again.

I'm not sure what it would benefit in bigger picture, it would hurt the artist mosts cause boycots are being focused on them, they are definitely caught in the cross-fire and will got shot down first and it won't change the business practices behind the companies.

THey should do through investigation to clubs and companies to find out what is going on and put some serious regulation, but I don't think they want to cause it would hurt these businesses too much.

 

[lexus]

it will do something if it gains traction.
Did it play a part in cl's show getting killed?
There is apparently a lot of anger in Korea over this entire clubbing mess.
Boycotts have killed companies before and they will again.

I doubt it'll gain enough traction to destroy the entire company though. I understand people being upset over the Burning Sun situation, but there's no point in boycotting the all the artists, who had nothing to do with the situation, and the company just because they're upset with YG himself and Seungri.

 

[Darkyoda47]

sis u comparing avoiding taxes with prostitution and drugs is a joke

You completely missed the point of the thread. It wasn't to compare both CRIMES. It was to show everyone that no company is "clean" and that the boycott is completely useless.

 

[RandAlThor]

There's a lot more politics to that than you think. One does not simply get on and then magically get off Interpol's wanted list. It ain't magic sis, it's politics and power.

yep yep but there is many sides to that coin. And this year is a poster card as the how jacked up the law enforcement agencies of the world are.

 

[Darkyoda47]

yep yep but there is many sides to that coin. And this year is a poster card as the how jacked up the law enforcement agencies of the world are.

Exactly. The world is fucked. These companies are fucked. Someone save the actual innocent idols who just want to sing and dance

 

[VillageIdiot]

Yeah SM has been shady since forever and it annoys me to no end that SM stans ignore that

But I agree with @Hajima comparing tax evasion to prostitution is a little much....

Even JYP's cult thing isn't really comparable.

Again, norm with kK entertainment companies
And there were allegations of cult members being forced to provide sexual favors to the leaders before Dispatch backed down