JYP Entertainment Under Investigation Following Allegedly Involvement With Sewol Ferry Operating Company

JYP Entertainment is being investigated after reports suggested they received millions worth of illegal funding from the operating company of Sewol Ferry.

May 2, 2014 06:38 AM BST

TAGㆍJYP Entertainmentㆍ JY Park

(Photo : JYP Entertainment)

Singer-producer J.Y. Park is under fire for his alleged partnership with Yoo Byeong Eon, the de facto owner of Cheonghaejin Marine, the operator of the sunken Sewol ferry.

Rumors started circulating after JYP Entertainment reportedly received illegal funding worth 500 million KRW from the Evangelical Baptist Church, also known as the Salvation Sect. J.Y. Park has since denied any connection between him and the religious cult. He took to his Twitter account as said, "If you listen to my interviews or to the music that I've produced, you'll understand that my religious position is clear. I have studied many religions over the past few years, but I still don't have a religion... I hope such baseless rumours will stop going around."

Later on, J.Y. Park was attacked by rumours saying he received funds from Cheonghaejin Marine. J.Y. Park's wife is in fact Yoo Byeon Eon's niece thus fuelling the rumours of his involvement with the company in charge of the now-sunken Sewol ferry. J.Y. Park clarified the issue through his Twitter account on April 28, saying, "Other than the fact that my wife is related to the [owner of Cheonghaejin Marie], I have no other relations with the company. Is this a country where you can write whatever you want?"

Cheonghaejin Marine is currently being investigated following the tragic Sewol ferry accident, as well as a supposed tax evasion case.

Furthermore, JYP Entertainment released an official statement denying the agency and J.Y. Park's relations with the now-controversial ferry company. "It is true that J.Y. Park's wife is the niece of the former chairman, Yoo Byeong Eon. However, J.Y. Park is not religious, and the agency never received any illegal funds [from them]. Not even 10 KRW."

While JYP Entertainment persistently denied such claim, reports have it that the agency is under financial investigation by the Financial Supervisory Service after millions of KRW were allegedly leaked into JYP Entertainment through Yoo Byeong Eon's younger brother. However, JYP Entertainment is also denying this as well.

Furthermore, JYP Entertainment plans to take legal actions against the perpetrators to these rumours.

TagㆍJYP Entertainmentㆍ JY Park