Hook Entertainment announced that it has paid singer Lee Seung Gi his music-related profits in full amount.
On Dec 16th, Hook Entertainment (hereinafter referred to as “Hook”) announced, “We sincerely apologize to Lee Seung Gi, who is having the hardest and most difficult time,” and paid Lee the music revenue as well as provided him with the settlement data during his exclusive contract period with the agency.
Hook said, “We have delivered the related data to Lee Seung Gi by the beginning of this week, and based on the data, we wanted to reach a smooth agreement with Lee Seung Gi. However, the amount demanded by Lee Seung Gi’s side was too different from the actual amount that Hook had to settle with Lee Seung Gi, which is why we couldn’t reach a mutual agreement. Nevertheless, Hook does not want to argue any longer about the matter of money settlement with Lee Seung Gi, who we have been in a long-time exclusive contract with, so we paid Lee Seung Gi 2.9 billion won worth of unpaid settlement and 1.2 billion won worth of delayed interest.”
The agency added, “We have filed a lawsuit with the court to confirm that there is no more music revenue debt between us and Lee Seung Gi to close this dispute over revenue payments.”
Finally, Hook said, “We sincerely apologize to Lee Seung Gi once again for causing such misunderstandings and disputes for any reason due to our misconduct. In the future, we hope that both sides can achieve a thorough and transparent settlement through the court, and we will do our best to do so.”
Meanwhile, Hook Entertainment is embroiled in a controversy after Lee Seung Gi revealed that he wasn’t paid a penny for 137 songs during his 18 years of career. Lee Seung Gi sent a content certificate demanding Hook provide him with details of his digital sales profits and pay him his music-related profits. He then notified Hook of the termination of his exclusive contract on Dec 1st.
Source: Sports Chosun
