Occidentalism
Duc, sequere, aut de via decede!

K-popper boss married to fugitive Sewol owner’s niece

July 2nd, 2014 . by Errol

Park Jin-young 02

42-year-old Park Jin-young married in October 2013 the second daughter of Yoo Byung-ho, the recently arrested younger brother of fugitive ferry owner Yoo Byung-eun.

As Park’s 62-year-old father-in-law is a key leader of the Salvation Sect cult, the prosecution is set to widen the scope of its probe into JYP Entertainment as part of its effort to verify a variety of charges against  73-year-old Yoo Byung-eun.

While investigators are looking into JYP’s bank accounts in coordination with the Financial Supervisory Service, some market insiders raised the possibility that the prosecution will soon summon Park.

Park has recently argued that he and his parents are not devotees of the Salvation Sect cult and he was paid nothing from the religious group.

JYP Entertainment agency also claimed that it has made no business partnership or cross-funding transactions with sister firms of Chonghaejin Marine Co., the operator of the tragic Sewol.

Meanwhile, foreign investors and corporate investors have continued to dump their stake in JYP Entertainment on the secondary KOSDAQ over the past few weeks.

While its closing price was 6,080 won ($5.96) per share on April 15, a day before the ferry tragedy, it has ranged between 4,200 won and 5,500 won won since. Foreigners’ shareholding ratio in the company has dropped to 0.42 percent, from 1.0 percent in early May.

By Kim Yon-se Korea Herald Canada Day 2014


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