According to Dispatch, Singer and actor Lee Seung Gi has not received a single penny as a settlement of music revenue from his agency for over 18 years since his debut. The report has since gone viral and shocked fans. Lets go through the main points!
On November 21, entertainment media outlet Dispatch reported that Lee Seung Gi has not received a single penny of music revenue for 18 years since his debut with his first full-length album “The Dream Of A Moth” in June 2004. Although 137 songs were released over 18 years, including hits such as “Because You’re My Girl” and “Will You Marry Me,” the music revenue was zero won.
According to the alleged music settlement statement released by Dispatch, Lee Seung Gi earned about 9.6 billion won ($7,00,000) from October 2009 to September 2022. From June 2004 to August 2009, settlement data were lost, leaving about five years of profit missing, Dispatch said that this period is when “Because You’re My Girl” and “Will You Marry Me” were announced.
Dispatch estimated that Lee Seung Gi’s agency Hook Entertainment received about 10 billion won ($7,160,000) from the distributor. According to the terms of the contract between Lee Seung Gi and Hook Entertainment, 60% of the sales (6.5 billion won~$4,785,000) raised from 2009 to 2016 and 70% of the sales (2.9 billion won~$2,100,000) from 2017 to 2022 must be returned to Lee Seung Gi. In other words, Lee Seung Gi had to receive about 5.8 billion won ($4,700,000), but he did not receive a single penny, Dispatch reported. Even 5.8 billion won excluding the five-year period gap that Hook Entertainment said earlier that it had lost its settlement data.
In addition, Dispatch reported that Lee Seung Gi asked his agency about the settlement, but the agency told Lee Seung Gi that he had no amount to settle, saying, “You are a minus singer.”
Recently, Lee Seung Gi was reported of demanded certification of content to Hook Entertainment regarding this situation. Hook Entertainment confirmed by saying, “We have received a certification of content from Lee Seung Gi, and we are reviewing related materials and preparing answers accordingly. We are trying to wrap up the problem smoothly without misunderstanding between the two sides.”
In this regard, Dong-A.com tried to contact Hook Entertainment, but they were unreachable.
Hook Entertainment has been constantly under fire for the conflict with Lee Seung Gi and the recent seizure and search incident in their office. The National Police Agency’s Serious Crime Investigation Division conducted a search and seizure of Hook Entertainment’s office building in Cheongdam-dong, Gangnam-gu, Seoul on November 10. Later, it was alleged that the search and seizure were carried out due to embezzlement charges by some executives.
It has also been speculated that Youn Yuh Jung, the leading actor of the agency, could depart the agency, but they denied the reports.
What do you think of this?