Lee Seung Gi’s legal representative “The 2021 agreement between Lee Seung Gi and Hook Ent is about real estate investment of 4.7 billion won”

Singer-actor Lee Seung Gi’s legal representative released an additional statement.

Lee Seung Gi‘s legal representative said on Nov 28th, “Hook Entertainment (hereafter referred to as Hook Ent) announced in a statement on Nov 25th, ‘The claim that Lee Seung Gi has never received any payment for his music activities is not true at all. When Lee Seung Gi’s exclusive contract expired and was renewed in 2021, he already confirmed the settlement details and agreed to form a financial relationship with us. Nevertheless, following Lee Seung Gi’s complaint, we have been reviewing the settlement details of the considerable amount of profits we paid to Lee Seung Gi once again with experts.’

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They explained, “We deeply regret Hook Ent’s above false claims, and accordingly, Lee Seung Gi has decided that further conversations with Hook Ent are meaningless.”

They emphasized, “Lee Seung Gi has never received any payment for his music activities from Hook Ent. Therefore, we have no idea what kind of music fee Hook Ent paid Lee Seung Gi and in what way.”

Read also: CEO Kwon Jin Young purchased real estate in cash while holding Lee Seung Gi’s money without interest

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They went on to say, “What is clear is that Hook Ent intentionally hid the fact of music revenue from Lee Seung Gi, and the settlement was not made according to accurate details and grounds. Hook Ent began to provide Lee Seung Gi with sales statements after 2018, and there is no information related to music fee in these statements.”

They continued, “If Hook Ent paid Lee Seung Gi music fee, it would be necessary to provide a clear basis for payment through thorough verification of deposit and withdrawal details. The calculation is also simple. If there is a record of settlement of music fee as Hook Ent claims, it can be excluded from the unpaid settlement.”

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They added, “We express regret once again that we have not yet disclosed the details of sales and settlement of music fee even though it is not a difficult problem at all, and that they have been consistent with the gaslighting of ‘You are a minus singer’.

They criticized, “Hook Ent said ‘When Lee Seung Gi’s exclusive contract expired and was renewed in 2021, he already confirmed the settlement details and agreed to form a financial relationship with us’, but this part is not true at all. We would like to clarify that this agreement is not an agreement between Lee Seung Gi and Hook Ent on the settlement of music fee. The 2021 agreement between Lee Seung Gi and Hook Ent is about ‘4.7 billion won’. Hook Ent borrowed 4.7 billion won from Lee Seung Gi in 2011 for the reason of purchasing luxury apartment, but CEO Kwon Jin Young did not keep any promises regarding the investment.

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They claimed, “When Lee Seung Gi said he would terminate his management contract with Hook Ent, Hook Ent said they would treat the existing investment as a loan. During this process, an agreement was drawn up while organizing Lee Seung Gi’s investor rights.”

They criticized, “We would rather ask Hook Ent how Lee Seung Gi, who was not even aware of the occurrence of music revenue, could reach an agreement with them. If Hook Ent asked Lee Seung Gi to sign an agreement in 2021 with the settlement of music fee in mind, it would be an obvious fraud.”

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Finally, they warned, “All the problems stemmed from Lee Seung Gi’s lack of experience and inexperience. We would like to inform you that Lee Seung Gi is only sorry for causing concern to many people due to his personal affairs. We hope that the problem can be sorted out through a clear confirmation of the facts, and Hook Ent will not put pressure on many people through further distortions or lies.”

Source: Wikitree

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