Lee Seung Gi Issues Second Statement Against Company

Contracted to his agency HOOK Entertainment for 18 years, Korean singer and actor Lee Seung Gi has never received a penny of his music profits, despite releasing some 137 tracks. Having nullified his contract recently, Lee Seung Gi’s legal representative issued a second statement on November 28 which alleged that the company was full of “distortion and lies”.

Lent CEO 4.7 Billion Won in 2021?

The 35-year-old has recently nullified his contract with the company.

HOOK Entertainment had claimed that Lee Seung Gi’s 2021 agreement, when he renewed his contract, had been related to the settlement of music profits – this is rebutted by the singer. In his second statement, Lee Seung Gi denied HOOK Entertainment’s assertion that settlement details of base payment for music have been made and expressed regret that the company withheld sales data and related statements.

Amid the ongoing controversy, it surfaced the singer had previously invested 4.725 billion won at zero interest, for the purpose of property investment, which CEO Gwon Jin-young reportedly used to purchase a unit at premium residence Hannam the Hill, one of the most expensive apartments in South Korea. HOOK Entertainment had then asserted that if Lee Seung Gi wants to terminate his contract, the sum would be treated as a loan, for which they wrote an agreement – which had nothing to do with his music revenue, but was related to his investment rights regarding the sum.

Apologizes for “Making Many Worry”
Attributing the saga that have arisen due to him having debuted at a “very young age”, the statement added that he lacked the social experience and was therefore in the dark for many years. It said, “I’m truly apologetic for making so many people worry due to my personal issues.”

Source: WorldJournal

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  1. Even a A-listed celeb like him is cheated and harmed by those he trust… I cannot imagine others…SK entertainment industry may look very glitzy and glam but it is run by lots of scums…
    I hope Lee Seunggi will win his lawsuit..

    1. All this time he has been cheated out of millions of dollars that is rightfully his. @Hohliu , have you noticed that a lot of these young upcoming artists can’t afford a decent apartment, or brand name clothing items unless they model them? That is the misfortune of a lot of the BL actors and boy and girls musical groups. It is because their managers/agents keep the money for themselves. There is a manager who not only sleeps with her young client, after ripping him apart from someone he fell for. Sge jeeps the vast majority of his earnings, she lives in tge lap of luxury, while he has some undesirable place. I hope Lee Seung Gi gets the proper justice he deserves and his money in the process. These manager/agents are heartless.

      1. SK entertainment news do occasionally have very disturbing news that left us angry hearing about it and angrier when they are “concluded”. The SK actress who committed suicide after being forced to sleep with the rich and powerful where her case hit the news with a bang and ended quietly then there was Seungri’s 3 years imprisonment. There is also an ongoing case where a SK comedian was robbed millions of dollars by his very own brother who helped managed his fortune. His brother, sis-in-law and even his parents ganged up against him, his father beating him up for bring his brother to court over the money that was rightfully his, making me wonder if he is adopted. Hope LSG manages to win his case without much damage.
        I don’t think other countries entertainment industry is fair and clean, probably just better in keeping all these under wraps.

  2. Not getting paid and various kinds of abuses and we have also heard about speculations where agencies would try to destroy their artists’ reputations if they showed signs of not recontracting with the current agency. What more are we going to hear about the dark sides of entertainment industry?

    1. @BearBear, get the popcorn out and pull up a chair cause there is lots more coming in 2023. You know they don’t like these artists to go with new agents/managers cause they will lose their bread and butter. They keep 70% or more of the bread and butter for themselves, and they are not losing that, no sire. If the artists insist on going forward without needing them, they then set out to ruin the unfortunate entertainers. They motto: if I/We can’t continue to live luxuriously off you, we will ruin you.

      1. @Renren What angers me is the consequences at the end of the injustice….which remains as injustice. Sure it is good for the world to learn about it but if there is little to no consequences, there will be more victims.

    2. @BearBear Very, very well said, and so true. I certainly agree with your logic and your comment. At keast when the world gets wind of what is happening, that is good. However, like you said, when the perpetrator gets no punishment, or a slap on the wrist, that is so wrong, and so insulting to the victim. I find it frustrating that a young woman was violated against her will and she killed herself because it was too difficult to live with the pain and shame and basically nothing was really done. A father beat his son up for seeking justice to collect funds that were legally, rightfully his. A woman takes almost all of a young man’s money, controls his life, even hus social media, breaks him up from who he loves and somehow got him into sleeping with her where he suffers from verbal and physical abuse. I heard she has something over him. I too am rooting for LSG to get justice. The same things in these situations that angers you, they anger me too.

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