Wings had received a tax audit that questioned the missing funds earlier in the year and excess profit. The fee was supposed to be paid to the charity which later turned out to be illegal. The company had to pay another set of fines for involvement in such a business.

During the initial questioning, Wings had refused all these allegations of gaining profit.

However, Yoon Minhee has revealed to the Whalien news viewers that the profit embezzlement by Wings was true but the alleged contribution in illegal fundraisers and companies has been proven wrong by the proof provided.

It clearly shows Ryu Iseul's signature in the documents claiming that those charities belonged to her.

Further actions will be taken by the BU and court.

Yoon Minhee also announced her stepping down as the CEO of Wings. She'll be replaced by Jeon Jeongguk, her husband and CEO (and founder) of BE cosmetics.

At the press conference held today, he promised to work for the betterment of the company and has received a mixed response from the audience.

The thirtieth anniversary of the company which was to be held next month will be postponed for the time being, no further information  has been conveyed.

Stay tuned, Whalien news.