New updates have come from Hook Entertainment regarding the payment of actor Lee Seung Gi’s earnings. Hook Entertainment claimed in 2021 that the “financial records have been approved by both parties” and that “payments due have been fulfilled by both parties signing a mutual agreement” that the company has withheld Lee Seung Gi’s music distribution earnings for 18 years. denied the allegations. 25 November
After this statement, Lee Seung Gi’s legal representative has now responded and made an official statement on the matter. The description is as follows:
Here’s What Lee Seung Gi’s Representative Said.
“Hello. This is Lee Seung Gi’s legal representative.
On November 25, Hook Entertainment released a statement, clarifying that it is not true that they did not pay any music profits to Lee Seung Gi and settled all outstanding debts with him.
With our sincere regret for Hook Entertainment’s baseless allegations, Lee Seung Gi concluded that further discussion with Hook Entertainment is pointless.
Lee Seung Gi never received a statement for the money he earned from his music. It’s impossible to determine how much Hook Entertainment paid Lee Gi for his music, or how it was done.
The fact that music was monetized and no profit deals based on accurate castings and evidence was deliberately hidden from Seung Gi by Hook Entertainment.
If Hook Entertainment had paid Lee Gi for his music, they could have shown this by carefully checking their deposit and withdrawal records. Calculations are also simple. If they have payment details, as Hook Entertainment claims, they may not include the base payment for the music in the outstanding payment.
we are sorry about that [Hook Entertainment] Although it was not a difficult matter at all and they had always misled him by saying “You’re a minuscule singer” until this point, he did not keep the sales and reconciliation figures for his music profit.
They claimed to have resolved all bond-debt relationships between the parties when Lee Seung Gi renewed his exclusive contract with Hook Entertainment around 2021, but this is also not entirely true. We would like to expressly point out that the relevant written agreement is not a profit sharing agreement between Lee Seung Gi and Hook Entertainment.
Also Read: Hook Entertainment CEO Threatens to Kill Lee Seung Gi
The 2021 contract between Lee Gi and Hook Entertainment addressed Seung Gi’s 4.7 billion won real estate investment in Hook Entertainment. Seung Gi invested 4.7 billion won in Hook Entertainment in the late 2010s to purchase a building. CEO Kwon Jin Young made no guarantees regarding the investment.
When Seung Gi informed Hook Entertainment that he wanted to terminate his management contract, Hook Entertainment said they would consider the current investment as a loan. They then wrote a deal while removing Seung Gi’s investor rights.
We really want to know how Seung Gi can calculate his music profits and reach an agreement with Hook Entertainment on this issue, even unaware that music revenues are being generated. It is clearly a hoax that Hook Entertainment asked Seung Gi to sign a deal in 2021 considering the payment of music revenues.
We convey that since Seung Gi debuted at a young age and his inexperience caused all the problems, Seung Gi regrets that he only caused so many people to worry about personal matters.
We hope that the issue will be resolved with conclusive verification of the facts and that Hook Entertainment will stop upsetting many people by lying and distorting the truth.