Hook Entertainment "Paid Lee Seung-gi 5.4 billion KRW including interest"

Filing a Lawsuit for Non-Existence of Debt in Court to End the Dispute
CEO Kwon Jin-young States, "I Will Not Avoid the Responsibility I Must Bear"

Singer Lee Seung-gi. Photo by Hook Entertainment

[Asia Economy Reporter Lee Isul] Hook Entertainment announced that it has paid singer and actor Lee Seung-gi (35) an additional 4.1 billion KRW in unpaid settlement money including interest. Including the previously paid 1.3 billion KRW, a total of 5.4 billion KRW has been settled.

On the 16th, Hook Entertainment stated, "We received a request from Lee Seung-gi for the music revenue settlement data and payment of the corresponding settlement amount during the exclusive contract period. Accordingly, we delivered the related data to Lee Seung-gi’s side by early this week and aimed to reach an amicable agreement based on that data."

They continued, "The amount requested by Lee Seung-gi’s side was significantly different from the actual amount Hook had to settle, so both parties could not reach an agreement. However, not wanting a prolonged dispute, we paid Lee Seung-gi today the full amount of unpaid settlement money of approximately 2.9 billion KRW and delayed interest of about 1.2 billion KRW, in addition to the previously paid settlement money of approximately 1.3 billion KRW."

They added, "To confirm that there is no outstanding debt regarding the settlement money to Lee Seung-gi and to conclude the dispute related to the settlement money, we have filed a lawsuit for confirmation of non-existence of debt with the court. We hope that transparent settlement between both parties can be achieved through the court."

Lee Seung-gi debuted in 2004 and has been with Hook Entertainment for 18 years. He released 27 albums and 137 songs, generating 9.6 billion KRW in revenue, but recently sent a certified letter claiming settlement as he had not received any music revenue from the agency. Hook CEO Kwon Jin-young stated, "I will not evade the responsibility I must bear and will take responsibility by disposing of personal assets." Lee Seung-gi is currently filming the movie "Daegajok" and will appear as the MC of JTBC’s idol audition program "Peak Time" early next year. SBS variety show "Master in the House 2" will resume broadcasting without Lee Seung-gi.