“We have no accounting issues, and our investment structure is fully legal.” That was the firm response from Gold Medalist on September 19, as the company released an official statement addressing recent media reports questioning their settlement procedures and corporate transparency.
Earlier in the day, a media outlet had claimed that Gold Medalist, the management agency founded by top actor Kim Soo Hyun and his brother Director Lee Ro-be, paid a mere ₩670 million in total settlement fees to its artists between 2020 and 2024. The report raised eyebrows especially considering Kim Soo Hyun’s blockbuster success with the 2024 hit tvN drama Queen of Tears, which reportedly generated nearly ₩20 billion in revenue. Yet, his personal settlement earnings were said to be just ₩270 million.
In its rebuttal, Gold Medalist explained, “As an unlisted company, we follow the Korean Generally Accepted Accounting Principles (K-GAAP). Actor distribution costs are classified under cost of sales, which means there’s no issue in terms of accounting.”
The agency also defended itself against allegations that its major investor—Barun 2nd Investment Association—lacked a proper office address and legal presence. “Investment associations are not structured to operate out of physical offices. The entity is legally registered and has complied with all legal requirements,” the company stated.
Legal integrity was a recurring theme in their message. Gold Medalist confirmed that it maintains ongoing legal consultations with a law firm and that all corporate management decisions undergo legal review. “There is no illegal activity in any part of our operations,” they emphasized.
Founded in 2019, Gold Medalist represents not only Kim Soo Hyun but also actors Seol In Ah, Kim Soo Gyeom, Choi Hyun Wook, and Kim Seung Ho. Despite its relatively short history, the agency has quickly risen in prominence thanks to Kim Soo Hyun’s star power and a tight-knit management approach.
Sources: Dispatch, Daum News
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