
so was there a time skip after Shin got banished? Also whereabouts is he residing now?

He's been banished from the palace, so he is no longer one of the King's children. I assume he lives in quarters prepared for by this father, they aren't entirely clear on the matter on chapter 26. My assumption is that the King has no interest in Shin now that he was.. "tainted" by someone else, even if he was his favorite.
It's implied that the King has not come to visit Shin in the past few years, but he and Sys are always prepared for the eventuality, going so far as to fake the illness they claim came as a result of the King's punishment with concoctions and herbs.
It also seems that Wolfgang cannot see Shin - at least not during the day or as frequently as they used to. There must be a reason Wolfgang has to pass his messages to Shin through Sys. I just don't know what that is yet! Looks like Chapter 31, released tomorrow, will answer some of that.
I've seen all the raws to date, just can't read Korean. English updates on mangago are now equal to those on Lezhin, so you'll need three coins per episode from here on out!

Guess he is still a "child" of the King, but he went out of his way to fake his illness so he wont have to serve the King. He is still living in the children's quarters.
Am exceedingly surprised Shin wasn't executed for treason when he showed up with a hickey. Either that or he was fully prepared to die than to serve the King.

Wait what did he do? Was he sunbae’s Ex? What video?? Can someone explain chapter 39. I’m so confused lol

No, he was not the Ex, of course...? Go back to near the beginning chapters, because it explained about the videos Sunbae took of his EX and SHOWED Sunbae videotaping Sunhwa...? The friend just admitted he was THERE...?
No no no nooo. Touma someone protect this boy’s precious smile...