Tyler Kwon, “I’ve settled the 8 billion lawsuit… Jessica is working hard despite fake news about her”
Jessica’s boyfriend Tyler Kwon recently provided an update on their lawsuit in an interview.
On April 28th, Jessica‘s long-time boyfriend, Tyler Kwon, CEO of Coridel Entertainment, announced that the 8 billion won lawsuit had been withdrawn after an amicable settlement with Joy King Enterprise. Even when the issue initially broke out, Tyler Kwon emphasized that “the situation can be sufficiently resolved.”
In an interview with MyDaily on April 28th, Tyler Kwon said, “We and Joy King submitted an agreement in February, but the process was delayed due to the influence of COVID-19. Our Hong Kong lawyer contacted us that the withdrawal of the lawsuit had been completed now. However, the details of the agreement cannot be disclosed because they have requested confidentiality.”
Earlier in September last year, the fashion brand ‘BLANC & ECLARE’ founded by Jessica and co-operated by Tyler Kwon, was sued by Joy King Enterprise over an unpaid loan of $6.8 million (8.6 billion won).
At the time, Tyler Kwon referred to the situation as “unfair.” He explained that the company only borrowed $4 million (5 billion won) from Spectra SPC, but Spectra SPC transferred the loan to Joy King Enterprise in August last year.
He then made it clear that Joy King Enterprise suddenly demanded a payment of $6.8 million including interest after about a month of transferring the loan.
Tyler Kwon specified, “After borrowing funds from Spectra SPC for the first time in 2016, we have faithfully paid them back for three years and agreed with Spectra SPC to delay the originally promised loan deadline in 2020 considering the COVID-19 situation. However, the loan was transferred to Joy King Enterprise in August, and without knowing the fact, I suddenly got a call from Joy King to ‘pay it all off in two weeks’ and eventually they filed a lawsuit”.
Tyler Kwon said, “We said we could solve it if we gave us time in September, but they insisted on repayment in two weeks. Considering the size of our company, it would be unreasonable to repay it in two weeks, plus a large amount of interest.”
Tyler Kwon also protected his girlfriend, saying, “This is not Jessica’s personal loan, but a corporate loan.” ‘BLANC & ECLARE’ is a fashion brand established by Jessica in 2014. She also serves as the chief designer and presents products such as sunglasses, clothing, and cosmetics.
Meanwhile, Jessica is currently filming the Chinese girl group re-debut competition show ‘Sisters Who Make Waves’ season 3.
Tyler Kwon also mentioned Jessica’s appearance on the show in his interview with My Daily. Recently, an unconfirmed document that Jessica’s nationality was classified as ‘Korean-Chinese’ in her profile in ‘Sisters Who Make Waves’ spread online, causing her to receive negative comments from Korean netizens.
Tyler Kwon emphasized, “The document saying she is Korean-Chinese is clearly fake, and the show’s production crew already confirmed that they are completely different from their own document. Despite the fake news, Jessica is working hard.”
