After the information was published, JYP stocks dramatically plummeted, and fans are now worried that this scandal can seriously affected JYP artists’ activities.
In the morning of May 2nd, Dispatch shook the whole showbiz as this media outlet published compiling evidence to allege that JYP Entertainment CEO – Park Jin Young and “Entertainment King” Bae Yong Joon are members of a religious sect. According to the news, this media outlet had taken photos and recorded videos of Park Jin Young – Bae Yong Joon taking part in preaching class of “Salvation Sect” on March 23th.
For more information, Park Jin Young led a 7-day religious preaching campaign in Yeoksam-dong, Seoul. The founder of this sect is Kwon Shin Chan – father in law of Yoo Byung Eun, the chairman of Chonghaejin Marine, the company that was responsible for the sinking of the Sewol Ferry. Yoo Byung Eun used to be a wanted criminal after Sewol Ferry disaster in 2014, but he was reported to die in a mysterious way. At the gathering, there was also Byun Ki Choon – the former executive director of Chonghaejin Marine Company and also the one who has previous history of facing criminal charges for malpractice of business, illegally directing money from his companies toward Yoo Byung Eon.
In 2014, Park Jin Young was involved in a religious controversy and was suspected to have a relationship with Sewol Ferry owner – Yoo Byung Eun. However, JYP CEO strongly denied this rumor and asserted that he did not join in any religious sect. Park Jin Young admitted: “It’s true that my wife is Yoo Byung Eun’s niece”, but he denied all the relationship with people/ companies that involved in tax evasion and Sewol Ferry incident.
At that time, JYP Entertainment was rumored to receive a donation of 500 million won from Evangelical Baptist Church – a part of the “Salvation Sect”. After that, Park Jin Young denied once again and wrote on Twitter: “I have studied countless religious in the past but I am still currently nonreligious”.
However, according to Dispatch, Park Jin Young has been a member of a religious sect established by Yoo Byung Eun and Yoo Byung Ho (Park Jin Young’s father in law and Yoo Byung Eun’s younger brother) since 2012. Park Jin Young’s wife is in charge of managing the gathering of this religious sect.
On March 20th 2018, Dispatch followed Park Jin Young and discovered that he and Bae Yong Joon attended a preaching class in Yeoksam-dong, Gangnam District, Seoul. After that, also in March this year, these two entertainment bosses continued to join in other religious activities of the sect in a coffee shop E. At this place, the actor Bae Yong Joon willingly set up the tables, chair and food for other members.
Park Jin Young – Byun Ki Choon On the report of Dispatch, Park Jin Young and “Salvation Sect” have many activities that are related to business. Byun Ki Choon has made a lot of profits through this sect thanks to the members’ participation. In 2014, this sect firmly denied all the involvement in the sinking of Sewol Ferry.
Right after this news was revealed, Park Jin Young quickly responded by a long personal Instagram post. The founder of JYP Entertainment expressed his anger against the accusation of him being a member of and having close relationship with “Salvation Sect”, a “pseudo-religion” related to many people who are accused of involvement in Sewol Ferry disaster.
However, despite Park Jin Young’s denial, JYP Entertainment is now facing a great loss because of this scandal.
Read more: Religious Cult Confirms Park Jin Young Is Not Affiliated + Bae Yong Joon Also Responds
At 11:45 AM on May 2nd (Korean time), JYP Entertainment stocks plummeted down to 19,500 KRW (18.15 USD), a shocking 10.26% from yesterday’s closing price. Kpop fans are now really worried about JYP Entertainment and they especially concern about the fact that the above information will leave a great toll on JYP artists. This incident will be updated soon with the latest news!