name of the company you see a lot in karaoke is 'Geumyoung Entertainment'. Founded in 1995, the company once recorded a market share of 70% and annual sales of KRW 80 billion. Then, five years ago, Chairman Kim took over the company and was running it, but recently, suspicions were raised that Chairman Kim stole the company's money, and the police launched an investigation.
First of all, this is reporter Kim Kwan-jin.
is a material created by Geumyoung Entertainment last year in preparation for listing on the KOSDAQ.
It indicated that it developed a technology to reproduce accompaniment music only with software without hardware.
The development was completed in June 2016, one year and one month after the start of the research, emphasizing 'a characteristic unique to our company that cannot be imitated by other companies'.
However, in February 2016, after Chairman Kim took over the company, a strange thing happened.
Geumyoung Entertainment has signed a contract to use this technology independently developed by paying an external company.
From June 2017 to April of the following year, about 1 billion won is paid to Company A in so-called 'technology usage fees'.
Next, in return for using the same technology, this time, about 1.2 billion won is paid to Company B for 9 months.
The CEO of Company B was a person who developed technology at Geumyoung Entertainment, and the CEO of Company A was an employee of the company's finance team at the time.
[Geumyoung Entertainment official: It was an employee who managed the transfer of all funds at that time. Even though I was working as an employee, I set up the company.] Company
A and Company B closed their doors, and from August 2019, Company C received at least KRW 3.7 billion in technology usage fees and service costs from Kumyoung Entertainment.
I went to C.
It is in the same building as Chairman Kim's personal office, but there is no signboard in the office, and only the CEO and one employee are guarding the seat.
[CEO of Company C: (Are you not the CEO?) No, please leave.] As
a result of the coverage, the CEO of Company C was also a former employee of the development team of Geumyoung Entertainment.
Where was the money paid by Geumyoung Entertainment used?
This is a breakdown of deposits and withdrawals from corporate accounts of two companies, A and B.
In August 2017, Company A transferred 60 million won to Chairman Kim's personal account.
In addition to this, he also sent money to Chairman Kim's son for the name of his salary, and Company A sent 108 million won eight times and Company B sent 84 million won seven times.
Cash of unknown purpose also escaped from time to time, but only 25 million won from company A and 600 million won from company B were identified by the reporters.
The most notable is Company J, where the two companies sent 410 million won over 23 times.
It is a company that manufactures food, etc., and Chairman Kim is the CEO.
[Kyung-Yul Kim/Accountant: Although this kind of transaction is possible with a personal passbook, a corporate passbook cannot do this. When you look at the company's transaction details, it is difficult to see it as a transaction of any general goods or services.]
(Video coverage: Mun-San Bae, Choi Dae-Woong, video editing: Hye-Young Choi, CG: Jae-Eun Seong, Jae-Young Choi, Ji-Hyeon Ahn)
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