legal representative on 28 NovemberLee Seung Gimade an additional statement as a continuation of the ongoing problem with the artist paying for music revenues.
Earlier, on November 26, Korean news outlet 10Asia, Lee Seung Gi He said he loaned CEO Kwon Jin Young a total of 4.725 billion won (approximately $3.538 billion) interest-free and purchased a residence in the famous Hannam the Hill luxury apartment complex. Hook Entertainment and CEO Kwon Jin Young they answered He briefly said that the acquisition had nothing to do with the agency and Lee Seung Gi.
Below is the full description of Lee Seung Gi’s legal representative:
Hello. I am Lee Seung Gi’s legal representative.
Hook Entertainment shared that it is not true that they did not pay their music revenues in a statement on November 25. [a Lee Seung Gi] and that they have honored all their debt obligations to Lee Seung Gi.
We express our deep regret for Hook Entertainment’s unfounded allegations, and following this, Lee Seung Gi has decided that there is no point in further discussion with Hook Entertainment.
Lee Seung Gi never received a statement regarding his earnings from music. We have no way of knowing what kind of payment or method Hook Entertainment paid Lee Seung Gi for his music.
What is certain is that Hook Entertainment hid the fact that Lee Seung Gi intentionally profited from his music and no profit deals were made based on malfunctions and accurate testing.
If Hook Entertainment has paid Lee Seung Gi for his music, it can provide clear proof of payment through thorough verification of deposit and withdrawal statements. The calculations are also simple: if they have the payment details of the base payment for the music, as claimed by Hook Entertainment, they can exclude it from the unrealized payment.
While this is not at least a difficult problem, we once again regretted it. [Hook Entertainment] He has not disclosed the sales and liquidation statements of his musical earnings and has been criticized constantly for saying “You are a little singer” (that is, with a negative profit margin).
When Lee Seung Gi renewed his exclusive contract with Hook Entertainment around 2021, they announced that they were liquidating all bonds and debt relationships between the parties, but this is not true in the slightest. It is not a settlement agreement for music earnings between Lee Seung Gi and Hook Entertainment.
The 2021 deal between Lee Seung Gi and Hook Entertainment was related to Lee Seung Gi’s 4.7 billion won real estate investment in Hook Entertainment. Around 2011, Hook Entertainment received an investment of 4.7 billion won from Lee Seung Gi to purchase a building. CEO Kwon Jin Young did not. keeping all promises regarding investment. When Lee Seung Gi announced his intention to terminate his management contract with Hook Entertainment, Hook Entertainment announced that they would treat the existing investment as a debt, writing an agreement in the process, removing Lee Seung Gi’s rights as an investor.
In fact, we would like to ask Hook Entertainment how Lee Seung Gi, who doesn’t even know the truth about the music profit made, can liquidate his music profit and come to an agreement on this matter. If Hook Entertainment asked Lee Seung Gi to sign a deal in 2021 considering the liquidation of his music profits, it’s clearly a case of fraud.
All the problems were due to Lee Seung Gi’s inexperience in debuting at a young age, and we mention that Lee Seung Gi only apologized for worrying many about his personal issues. We hope that with clear verification of the facts, the problem will be resolved and Hook Entertainment will no longer trouble other people with distortions and lies.
Earlier this month,bring outHeLee Seung Gihad submitted a content certificate to his agency Hook Entertainment requesting transparent disclosure of payments. Recently, the agency’s office building has also beencapturedand was registered by the Serious Crime Investigation Division of the National Police Service on suspicion of embezzlement by some executives. On November 21, Dispatch released a report alleging that Lee Seung Gi received none of his income from his music and underreported for five years from 2004 to 2009. Kwon Jin Young, CEO of Hook Entertainmentansweredbriefly saying they are in the verification process. On November 24, Lee Seung Gi’s legal representativeapprovedLee Seung Gi never knew the earnings of his music and received insults and threats when asked about the details of the deal, while Hook Entertainment said that deniedaccusations
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