A member of one of South Korea’s biggest K-pop boy bands has announced his retirement after being charged over alleged involvement in a prostitution ring, in the latest scandal to hit the country’s entertainment industry.
Seungri, part of the globally popular Big Bang, said he would retire to fight the charges and to spare his management agency and fellow band members further embarrassment, according to South Korea’s Yonhap news agency. The decision came after news of the scandal spread on social media on Monday.
Shares in YG Entertainment, the band’s powerful talent agency, slid by as much as 14%, according to Bloomberg. Other K-pop management companies suffered losses.
Known as “Korea’s Great Gatsby” for his lavish lifestyle, the 28-year-old is suspected of supplying prostitutes to foreign investors at several nightclubs in Seoul’s upmarket Gangnam district.
Prostitution is illegal in South Korea. The charges against Seungri carry a prison sentence of up to three years. He has denied the allegations.
Police are also investigating allegations the Burning Sun nightclub, where Seungri was a public relations director, was involved in illegal drug use, sexual assaults and police corruption, Yonhap reported.
Seungri, whose real name is Lee Seung-hyun, wrote on his Instagram account that he had decided to quit the pop industry. “It would be better for me to retire from the entertainment scene at this point,” he said. “As this scandal is too big, I have decided to retire. As for the ongoing investigation, I will take it seriously to clear myself of all the allegations.
“I give my heartfelt, sincere thanks to fans at home and abroad who gave their love for the past 10 years, and I think this should be it for the sake of the reputation of YG and Big Bang.”
The investigation has prompted speculation the singer will be unable to begin his national service later this month. All able-bodied South Korean men aged 18 to 35 must serve for a minimum of 21 months, a measure seen as a deterrent against North Korean aggression.
Seungri was due to enrol on 25 March but could ask for a deferment while he addresses the allegations.
Police have said that they would still be able to conduct their investigation while Seungri is serving in the army, and military officials have said the singer would have to submit a written request for deferment.
South Korean media reported that police had confiscated Seungri’s passport now that he was officially regarded as a suspect.
The five-member group, which has won a huge global following since it was formed in 2006, is taking a break while three of them carry out military service. Seungri has cancelled the remaining dates in his solo tour.
Some fans took to social media to pledge their support for the embattled singer. Bloomberg quoted one user as saying: “We call on the real fans’ voice, do not fall into the shameless trap, we support Seungri!”