Big Bang's Seungri announces retirement from showbiz

Big Bang's Seungri announces retirement from showbiz

This photo taken on March 3, 2013 shows Seungri (R), a member of the popular South Korean boyband Big Bang, arriving at the country's main airport after finishing the band's tour in China.

His agency, YG Entertainment Inc, told Reuters it did not have any fresh comment on his position.

Shares in YG reportedly slid by nearly 16 per cent, and other K-pop companies have suffered losses, as a outcome of the scandal.

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.

How has South Korea reacted?

BIGBANG's Seungri has officially been booked and questioned by police on charges of violating South Korea's Acts on Pimping and Prostitution and its Punishments. He has denied the allegations.

He is also linked to an ongoing police case over Burning Sun, a nightclub where he was a public relations director, for multiple investigations into illegal narcotics use and sexual assault.

Seungri shares a message with fans about why he's leaving the industry
Seungri thanks his fans for their support as he quits the music industry. Instagram

"I think it is right for me to retire from this industry". I've made a decision to retire from the entertainment industry because of the huge social controversy that has arisen.

"I'm so embarrassed at myself for being your fan for the last 10 years", a user responded to Seungri's Instagram post.

The investigation has prompted speculation the singer will be unable to begin his national service later this month.

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.

He faced police questioning at the weekend.

The singer, who also owns a global franchise restaurant business, suspended his entertainment career in February and cancelled concerts scheduled for later this month.

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