Hitting the headlines after revealing that he had been withheld music-related revenue from his former company for 18 years, singer Lee Seung Gi’s case highlighted the abusive practices of Korean management company HOOK Entertainment and its management.
Mediation Allegedly Broke Down as “Sum Did Not Tally”
On December 16, HOOK Entertainment expressed in a new statement that due to the huge disparity between the amount demanded by the singer’s representative and the sum derived at by the company, no agreement could be reached between both parties. HOOK stated that as it was keen on closure of the saga with the singer, who had been with the company for a long time, it paid Lee Seung Gi another 4.1 billion won in missed payments (including 1.2 billion won interest), on top of the settlement amount of 1.3 billion won. The company also stated has also filed a lawsuit to examine that no debt remained, as it confirmed on its end that it owed no further debt to Lee.
Lee Seung Ki Thanks Supportive Fans
On the other end, Lee Seung Gi broke his silence with a lengthy social media post revealing that he received an extra $5 billion won in his bank account, and expressed that HOOK Entertainment wants to wrap up the matter with a sum which they owed him.
“I wanted to sue (HOOK Entertainment) not because of the money owed, these despicable people should not make use of others’ value, I feel that this is a (mission) and what I can do”. The singer added that he was unsure how the sum of 5 billion won is derived, and is prepared to seek the truth in the courtroom, adding that he will be donating the 5 billion won (est. over HKD$30 million) to the needy, after deduction of litigation costs.
In his post, the singer also confessed how he once doubted his own abilities on being called a “minus singer” by the company representative, and reiterated the feelings of anger, disappointment, helplessness and self-blame he had felt due to the betrayal. He also thanked those who have helped him during the saga, which had “made him feel loved again”.