The 8 billion won lawsuit over unpaid loan that Jessica and her boyfriend were caught up in, is now settled

Joy King Enterprise has withdrawn the lawsuit filed against Jessica’s brand Blanc & Eclare last year. 

Former Girls’ Generation’s member Jessica was embroiled in a lawsuit from September 2021 because the company she and her boyfriend Tyler Kwon co-operated failed to pay a debt of 8 billion won. But the lawsuit has been settled now. 

Tyler Kwon reportedly provided an update to Chosun.com, saying, “We got a call from our Hong Kong lawyer today. On February 7, we and Joy King wrote an agreement and submitted it to the court, but the situation was settled in two months as the trial schedule was delayed due to COVID-19. Joy King Enterprise dropped the charges today.”

Joy King Enterprise said they could not disclose the agreement details. Tyler Kwon added, “We really want to tell the media about this, but Joy King said we should never disclose it considering their reputation. These are agreement terms”. The reason was speculated to be the excessive amount of interest set by Joy King.

In September last year, Joy King filed a lawsuit against Blanc & Eclare for failing to pay a total amount of 6.8 million USD (about 8 billion won), including 4 million USD in principal and interest. At first, Blanc & Eclare borrowed money from Spectra SPC (hereinafter referred to as SPC). Later, Joy King signed a loan transfer contract with SPC, then urged Blanc & Eclare to repay them, leading to a lawsuit in the end. 

Jessica and Tyler Kwon started doing fashion businesses in the U.S and Hong Kong. In August 2014, Jessica launched Blanc & Eclare and participated in designing by herself. Jessica and Tyler Kwon have been publicly dating since 2013. 

Jessica is currently challenging a girl group re-debut by appearing in the famous Chinese audition program “Sisters Who Make Waves Season 3”.