SEOUL, March 11 (UPI) -- Amid snowballing criminal allegations that Seungri of globally popular K-pop boy band BIGBANG was behind a sex-for-business favor deal, the singer on Monday offered to retire entirely from the entertainment scene.
"It would be better for me to retire from the entertainment scene at this point," Seungri said in a post on his Instagram account.
"As this social scandal is too big, I decided on my retirement. As for the ongoing probe, I will take the investigation seriously to clear all the allegations," he said.
The 29-year-old singer and businessman was officially booked over the weekend on suspicions that he procured sex services for potential investors.
A media report previously claimed that Seungri, whose real name is Lee Seung-hyun, used multiple nightclubs in Seoul's posh Gangnam area as places for lobbying using sexual favors.
The police have also been investigating Burning Sun, a nightclub where he was a public relations director, over suspicions about illegal narcotics use, sexual assaults and corrupt deals with police officials at the club.
As the allegations grew, Seungri suspended his entertainment career in late February and canceled concerts originally set for mid-March.
"I give my heartfelt, sincere thanks to fans at home and abroad who gave their love for the past 10 years, and I think this should be it for the sake of the reputation of YG (Entertainment) and BIGBANG," Seungri said in the Instagram post.