Lee Seung-gi Notifies Hook Entertainment of Exclusive Contract Termination... Ending 18 Years of Partnership

Singer Lee Seung-gi. Photo by Hook Entertainment

[Asia Economy Reporter Lee Isul] Singer and actor Lee Seung-gi (35) has notified Hook Entertainment of his intention to terminate his exclusive contract. Attention is focused on whether CEO Kwon Jin-young, who stated yesterday that he "will not avoid" the issue, will accept this.

On the 1st, a representative from Lee Seung-gi's side stated, "Lee Seung-gi has sent a notice of contract termination to Hook Entertainment."

Lee Seung-gi debuted in 2004 and has been with Hook Entertainment for 18 years. During this time, he released 27 albums and 137 songs, generating 9.6 billion KRW in revenue, but claimed he never received any earnings from the music sources from the agency and sent a certified letter demanding settlement. He also stated that "the trust relationship cannot continue," effectively announcing the end of their relationship. In response, CEO Kwon denied the claims as "not true," leading to conflict.

Subsequently, through his legal representative, Lee Seung-gi rebutted again, saying, "I have never received a statement of payment for music royalties, and I have no idea what royalties were paid or how," expressing regret over the false claims and stating that Lee Seung-gi has judged further dialogue to be meaningless.

Various allegations surrounding Hook Entertainment, including embezzlement and misuse of corporate credit cards, have also surfaced. Regarding reports that 2.8 billion KRW was privately used over six years from January 2016 to July this year, CEO Kwon stated, "I will take responsibility for the disputes related to Mr. Lee Seung-gi, not avoid the responsibilities I must bear, and will dispose of personal assets to take responsibility."