Chapter 2

I'm sure everyone have read a lot about BS's crimes, so I will not describe them in details. You can check links in eng and kr in my blog to read details about the alleged crimes in BS.

But what you, may be, don't know about BS?
The club was opened on Feb. 23rd, 2018, at "Le Meridien Seoul Hotel' in Yeoksam-dong, Gangnam. From its opening day it was promoted as "Seungri's club". As a luxurious club in a luxurious hotel, its target clients are the Korean chaebols, celebrities and top athletes as well as the richest tourists from China and Southeast Asia. Its VVIP menu priced up to 100 000 dollars.

1. The hotel
BS Club rented at a low price the basement floor of the 5 stars hotel "Le Meridien". (It is said that the rental contract was for 5 years, monthly rent about 16 000 dollars, in comparison with the normal price of nearly 30 000 dollars per month for an office with similar location!)

It was newly reconstructed hotel (opened Sept. 2017) on the place of "Ritz-Carlton Hotel", and owned by Jeonwon Industries. "LM" is a world brand of luxurious hotels owned by Marriott International and it's one level above Ritz. When the hotel opened, it was promoted as "Korea's first European style lux hotel".

But this brand is famous for being "family friendly" hotels that attracts families with children. So, it's quite unusual a club to be placed in such a type of hotel. And "LM" guests were quite upset to see drunk people in front of the hotel in nights or to meet drugged guys in the VIP restroom on the first floor of the hotel, as it was used by the club VIPs, too.

(Soon after the BS scandal the hotel was also closed and now it has a new owner who is not going to operate it as hotel)

2. The BS owners - JW Industries acquired a 42% share in Burning Sun in 2017 and became the largest shareholder. It is known that JWI lent about 1 million dollars to BS, but who lends such money to his tenants? BS CEO Lee Seong-hyeon was director in Jeonwon Ind. He owned 8% of the club's shares. So, JWI + CEO Lee's own shares makes 50% of BS.

Who owns the other 50%? Yuri Holdings (the joint company of Seungri and Yoo Inseok) owns 20%; the Taiwanese investor Ms. Lin (super rich lady rumored to be part of the Triad) owns 20% and Seungri's friend and manager of all his businesses (Yuri Holdings, club Moneky Museum and Aori Ramyon) Lee MoonHo owns the last 10%. Lee MoonHo was also co-CEO of BS. Seungri's mother was the club's accounter.

So, in fact, Seungri controlled only about 10% (the half of Yuri Holdings's share). But it's also true that everyone in this business were close friends from a long time.