Is Lee Soo Man paying himself through a ghost company?

Article: 'Suspicious internal transactions' in SM... suspicions grow stronger of Lee Soo Man taking 10 billion won a year

Source: 10asia via Nate

Korea Econ reported that Lee Soo Man holds 100% stock in a ghost company that SM has been funneling 44% of their profits into for the past 5 years. It also pays Lee Soo Man over 10 billion won a year. Since going public in 2000, the company has never paid out dividends despite reporting business profits similar to SM.

1. [+787, -9] There is rarely a big company that plays by the rules. I hope they investigate this fairly and punish them if there's anything illegal going on.

2. [+761, -11] Hmm.. is it SM's turn this time? ㅋㅋㅋ

3. [+611, -9] A man's greed knows no end. How many people who own big companies haven't tried to increase their own wealth?

4. [+50, -1] Lee Soo Man has a history of tax evasion and was even on the wanted list by the Interpol. Yang Hyun Suk's dirty but he's really just a speck of dust compared to Lee Soo Man's crimes... Lee Soo Man is the one who has a strong hold on the media. Any negative article about them gets buried within hours... The top 3 are all dirty but everyone knows that SM is just as dirty as YG. They even have control over all the broadcast PDs which is why JYJ has never been able to perform on TV since leaving TVXQ. Lee Soo Man's a big guy.

5. [+39, -4] SM's a trash company

6. [+29, -4] SM = YG

7. [+21, -3] Oh SM has a lot of scandals under their belt, it's just all being kept hush hush ㅋ

8. [+20, -2] Let's go expose SM after YG!!!!

9. [+18, -1] You can't beat SM when it comes to shadiness. Just look at how they turned last year's MBC Gayo Festival into an SM concert ㅋㅋㅋ do you think that came free? I bet if you dig into SM, you'll find things worse than YG..

10. [+15, -0] What is he hoarding all that wealth for? It's not like you take it with you in death.

11. [+12, -0] I'm pretty sure I read this report last year or the year before that

12. [+11, -0] What's it matter when this article will go down in a few hours and people will forget about it again... 80 billion won over 10 years, that's amazing.