BJ Chulgu says he will surrender over overseas gambling and illegal loans

He admits to gambling in the Philippines and using illegal high-interest loans. He says he will turn himself in to police this morning.

- He acknowledges “Philippines gambling” and illegal private lending, and plans to self-surrender to police.
- Spent over 1 billion KRW per week on overseas gambling in the Philippines.
- Rolled debt using illegal loans at 10% weekly interest from a major lender, then faced a 6 billion KRW VAT assessment, worsening liquidity.
- Borrowed several billions of KRW from fellow BJs to avoid account seizures.
- Failed to settle payments with crew from the “Excel” broadcast.
- Says a KOSDAQ-listed firm promised a 2 billion KRW interest-free loan but did not transfer funds.
- Plans to surrender to police to address the illegal private loan issue first, stating he will go this morning.