Hook Entertainment Pays Over $4 Million The Settlement Of Earning Profits To Lee Seung Gi After A Long Conflict
The long dispute between Hook Entertainment and Lee Seung Gi has finally settled down as the agency claims to have paid the settlement of Lee Seung Gi’s earning profits to him.
Hook Entertainment announced that they have paid Lee Seung Gi 2.9 billion won ($2,216,600) in unpaid adjusted settlement and 1.2 billion won($1,451,000) in the delay interest rate and explained the reason why they couldn’t settle his fees before to be the difference in settlement data between both parties which made it difficult to reach an agreement. However, they decided to end this long dispute with the actor by finally paying to settle the amount.
Check out the full official statement of Hook Entertainment below:
Hello. This is Hook Entertainment.
First of all, we would like to express our sincere apology to Lee Seung Gi, who is having the most difficult time with this incident. As is already known, Hook Entertainment has been requested by Lee Seung Gi to pay the settlement of the music profits during the exclusive contract period.
Accordingly, we would like to convey the relevant data to Lee Seung Gi by the beginning of this week, and based on the data, we would like to reach a smooth agreement with Lee Seung Gi.
However, the amount requested by Lee Seung Gi’s side was too different from the actual amount Hook Entertainment had to settle with Lee Seung Gi, so the two sides could not reach an agreement.
Nevertheless, Hook Entertainment did not want to have a long dispute with Lee Seung Gi over the settlement of his earning profits, so we paid Lee Seung Gi 2.9 billion won ($2,216,600) in unpaid adjusted settlement and 1.2 billion won($1,451,000) in delay interest rate. And after confirming that there is no more settlement debt between us and Lee Seung Gi, we filed a lawsuit with the court to confirm the absence of debt in order to close the dispute over settlement money with Lee Seung Gi. Hook Entertainment once again apologizes to Lee Seung Gi for causing such misunderstandings and disputes for many reasons including our misconduct.
In the future, we hope that through the court, a transparent settlement without leaving any questions between the two sides will be achieved, and we will do our best to do so. Once again, we would like to express our deep apology to everyone who has been hurt by this incident.”
Earlier, Lee Seung Gi demanded proof of contents from his agency through the law firm Pacific Ocean on November 17, saying that he had not properly received the proceeds of his music for over 18 years when he signed an exclusive contract with Hook Entertainment. Hook Entertainment has been in the middle of controversy after being raided by the National Police Agency.
Later, Dispatch released an alleged audio recording, which is the conversation between CEO Kwon, the director of Hook Entertainment, and the manager of Lee Seung Gi at a meeting on November 17, which caused a stir and the repercussions grew. Following the explosive report, Hook Entertainment announced that the claims regarding not paying music profit earnings are false and they have cleared all debt relations between the parties when they renewed the contract with Lee Seung Gi around 2021. However, the legal representative Lee Seung Gii refuted Hook Entertainment’s statement and concluded that any further discussion with the agency is meaningless. the actor has since filed to have his contract terminated with the agency.
What do you think of this?
Source (A)
At long last they settled it, and my idol is free from his former management after so many years…Goodluck Lee Seung Gi to your future projects and more success to achieve.❤️