In the so-called "victory gate," one aspect that is just as important as the suspicion of coercive force and sex crime is 'cohesion with capital'. Many of the allegations associated with this incident and many of the ills start with money and end with money. The "gate of capital" part of victory gate is searched through two coverage files.
He is said to have won the nickname "Great Win". He wrote his first solo album title as "THE GREAT SEUNGRI" and even said he had filed a direct trademark application. The appearance of the protagonist in the original novel "The Great Gatsby", which enjoys a splendid party based on the tremendous financial resources acquired at a young age, seems to have looked quite good in the eyes of victory.

In the 1920s, when the Prohibition Act came into effect, Gatsby was described as a rich man who had been involved in illegal activities such as bullying in the United States. I do not think that victory would have taken this setting into consideration. Unfortunately, a series of incidents, including the recent Burning Sun incident, led to an illegal allegation in the winning business process. In fact, illegal circumstances have surfaced in several businesses, and the authorities have started investigations.

One of the most noteworthy projects is 'BC Holdings', an overseas investment corporation established in Hong Kong by victories. Since the beginning of the Burning Sun incident, several reports have surfaced about the company. Various question marks have been poured from the question of who set it up, to the suspicion of tax evasion.

Above all, the most fundamental question is whether a restaurant or a club would be able to build a foreign corporation in Hong Kong to attract foreign capital of tens of billions of won. In addition, it is not only a matter of tax evasion or other tricks, but also a link between capital and other forces through capital.

● Hong Kong office, no resident staff ... "Ten billion won investment"

BC Holdings was established in Hong Kong on March 30, 2016. Win (Lee Seung-hyun), his partner Yoo In-seok, and Ryu Jae-wook, a representative of domestic consulting firm, participated as co-founders. In the initial installment, we issued 300 shares of 1 Hong Kong dollar stock, divided by 100 shares, which is about 45,000 won.

BC Holdings is listed along with Aoriramen in the corporate portfolio of Glass Holdings (which has won one by one in each name), which Victory has established with Mr. In-seok. It is a global investment corporation that attracts foreign capital and invests in domestic or foreign countries. It is said that the website will host 30 billion won worth of funds in 2017. (Co-founder Ryu Jae-wook explained that he had originally aimed for 30 billion won in an interview with SBS, but finished the first capital increase with 10 billion won in May 2017.)
Some domestic media have raised suspicions about the paper company around the company. The initial establishment capital is too small, about 45,000 won, and the identity is also unclear. Reporters also visited Hong Kong directly. Instead of BC Holdings, the local Korean-based taxation corporation that acted as a corporation was in the building located on the central street of Hong Kong financial center. There were no clues to recognize the resident staff as well as the signboards and company presence. I wanted to get to the previous address where the corporation was originally founded. (Related article ▶ [to the end] 'Tax authorities' tracking win] Hong Kong corporation, what is reality?

However, this is a common practice in Hong Kong. As it is well known, Hong Kong is Asia's leading financial hub. Although I will talk about it in a moment, I do not necessarily aim at tax avoidance, but I often establish a corporation in Hong Kong to facilitate overseas investment or sales. In this case, it can be called a secretary firm, and it is possible to receive services such as administration, taxation, etc. with a place addressed to a qualified local corporation. It is the local industry that at least 10,000 companies are set up in Hong Kong this year.

Even a paper company is not illegal in itself. This is also because Hong Kong law allows this. However, you should not commit illegal acts such as making slush funds or trying to tax offshore as it is often a problem. Usually this is done by setting up a paper company, decorating it as if something is happening, sending money, and washing the money. A few years ago, the Hyosung Group president was handed over to the court on charges of illegally raising illegal slush funds and forging taxpayers in Hong Kong.
In an interview with the Korean media, Ryu Jae-wook, CEO of BC Holdings, said, "As an investment company, we are a company that conducts normal business activities such as reviewing and enforcing actual investments. We use Hong Kong branch of Woori Bank as the main bank, We are supposed to pay taxes accordingly. " "BC Holdings is actively engaged in attracting foreign investors and investing in Korean companies."

● Paper Company is not illegal ... "What is important is important"

So it is not an important fact whether a winning Hong Kong company is a paper company or not. It is not illegal at first. Local Korean accountants in Hong Kong say, "It's important to know what the company actually did, what kind of business was done, and how the money went."

One of the reasons for establishing a company in Hong Kong is that it is convenient and safe to attract foreign investment and sales. Hong Kong is not only a financial hub in Asia, but also because Chinese characters and English are common, so it is not burdensome to work with other language partners. It is especially advantageous if the investment partner belongs to a country where the government of China and Vietnam and the relatively low market capitalism are located. Even if there is a dispute, using Hong Kong as an intermediary can reduce the risk.

One of the major investors of BC Holdings, as it is known, is Do, Hoang Minh, known as the Vietnamese conglomerate 2. If victory was to attract foreign capital such as Vietnam, it was necessary to establish a corporation in Hong Kong. Doh Hoeng-min resigned from the board of directors of BC Holdings on March 14, a few days after the victory, but still has 16.8% stake.

The second reason is for the so-called "saving". According to a local accountant in Hong Kong, if you are normally invested abroad through a Hong Kong corporation, some of your investment will be held in a "borrowed" account. In the event of any future profits, the borrowing will be repaid in advance. In the Hong Kong system, there is little or no tax in this process. It can be seen as a trick, but in Hong Kong, it is a local accountant that it is a very universal taxation method.

According to another domestic investment specialist, even when the money invested through BC Holdings enters the country, it can receive the tax benefit. If foreign funds are imported into the country, it will become a 'foreign capital attraction', and the tax benefits will be applied accordingly. If this money is used for domestic business such as victory, it can gain additional benefits.

Experts advised that all of the above are not illegal, just as the Paper Company is not illegal. It is also true that you can see it as a trick in the way you see it, but in Hong Kong it is a universal way. Of course, it may be a problem if it is inflated like there is no work in the process, or if another trick is used, but most of it is done on a line that does not go beyond the bounds of the law.

● "Expert or difficult to structure"

The important thing is that these victorious Hong Kong companies are a form optimized for the business they have designed and needed. BC Holdings has billions of Japanese and Vietnamese capital. It is easy to attract foreign investors' money, and it can be beneficial even if they bring money into the country. Because we are far away from the viewpoint of our taxation authorities, the width of the fortune is wide. I do not know what the purpose is, but it is designed to be elaborate to meet the purpose anyway. That's why it's a reason to have a company in Hong Kong.

Moreover, these structures are difficult to design and implement unless they are expert and knowledgeable in the industry. Of course, it is not impossible for people with relevant qualifications and knowledge, but it is doubtful that it was Win and Yoo In-seok who were co-representatives of Glass Holdings. Many investment industry experts pointed out that even considering the experience of Mr. Yu, who had gone through a consulting firm, it seemed unreasonable to think that these two people were planning and carrying out the business.

Those who are well aware of this situation will eventually be able to reasonably doubt that entertainers pursue their economic interests by using their fame and that capitalists with economic power are trying to pursue another goal by utilizing celebrity fame with bait I will. An investment industry expert told reporters that a series of business types, especially BC Holdings, is "not a common form". When we look at the form, composition, and process of incorporation, "it seems that the investment company pursued some other strategic goal rather than pursuing profits or maximizing profits." (Details will be covered in the following article)

This is also true of the recently revealed Club Burning Sun case. The biggest shareholder of Club Burning Sun, suspected of being a hotbed of all kinds of demolition, was the power industry, called coal miners. There were no doubts about the relationship and background of the two sides as the power industry was informed that Burning Sun provided various benefits such as low rents outside common sense. It is hard to see it as a general lease. It has not been revealed what a mature company that made money by making coal money into a hotel business has grown for Burning Sun, and it is not easy for the full picture to be revealed in the future, but it seems that it was not for economic benefit.

● The essence is "cohesion with capital"

On this background, the series of events represented by Burning Sun Gate is not merely a departure from entertainers, but rather a part of the process in which the various desires of a higher level are intertwined and sometimes fiercely confronted. Given that this incident has been revealed through an accidental cracking incident, the fact that it is revealed on the surface can be the tip of the iceberg.

Although the National Tax Service is currently investigating it, there are many predictions that the results will be unfavorable. If highly skilled capitalists moved, they would have moved smartly within the framework of the law, as mentioned in the Hong Kong business above.

Nonetheless, we need to keep an eye on who has moved for what and how the money has gone. Apart from punishment and sanctions, it is only meaningful that the citizens know and watch how all these things are done and done.

Beyond coexistence with the public power, more structurally more important is the cohesion with capital. It is because capital is finally mediated by the coexistence with the power of public power, and 'money' is located at all bases. Identifying the structure of desire derived from this "taste of money" rather than the character and flight of a particular individual will be a necessary prescription for our society.

(In the next section)