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HOOK, ‘Lee Seung Gi’s ‘0 won music’ settlement? This is not true… We have prepared a written agreement”

HOOK Entertainment has denied allegations of not paying Lee Seung Gi his music income for 18 years.

HOOK Entertainment (hereinafter “HOOK”) said on November 25, “As we mentioned in a previous press release, we are disappointed with the proliferation of unconfirmed facts while we are in the process of collecting and sorting out the exact data on content certification we received from Lee Seung Gi’s legal representative.”

they explained “When Lee Seung Gi’s exclusive contract expired and was renewed in 2021, he had already confirmed the details of the settlement and agreed to enter into a financial relationship with us. We have also prepared a written contract to prove it.”adding “Nevertheless, after Lee Seung Gi’s complaint, we reviewed with the experts the details of the settlement regarding the substantial amount of profits we paid to Lee Seung Gi.”

Hook continued, “The content of our contract with Lee Seung Gi that was recently announced by the media and the claim that Lee Seung Gi never received any payment for his music activities are not true at all.”adding “If there is something wrong with our management, we will fix it immediately and take responsibility for it. As a managing agency that must maintain relationships with its celebrities based on trust, we apologize once again for such poor performance.”

Lee Seung-gi Lee Sun Hee thumbnail

Lee Seung Gi’s teacher Lee Sun Hee was also mentioned. Hook said “Lee Sun Hee was nominally listed as a director because she is an artist who has been with HOOK from the beginning. HOOK was a sole proprietorship run by CEO Kwona who owned 100% from 2006-2021. Lee Sun Hee was not involved in the management of the company or the distribution of profits.”

Earlier on November 21, Dispatch reported that Lee Seung Gi had not been paid by HOOK for his music activities in the last 18 years.

Lee Seung Gi Hook CEO

According to the report, Lee Seung Gi’s music revenue since his debut is estimated at around 9.6 billion won, but he has not received any settlement from his agency. Assuming that Lee Seung Gi’s music sales from 2004 to 2009, which were not registered due to the lack of a ledger, are added, his music revenue could exceed 10 billion won. In addition, it was also revealed that CEO Kwon became furious and made abusive remarks towards Lee Seung Gi when he sent a request for billing details.

Below is the full text of HOOK’s statement.

“Hello. This is HOOK Entertainment.

First of all, we would like to apologize to many people for the bad news that comes every day and for our imperfection regarding the current issue between our company and Lee Seung Gi. In particular, we would like to apologize to Lee Seung Gi who is having difficulties due to this issue. We also want to apologize to those who were hurt by CEO Kwon Jin Young’s inappropriate comments and actions.

As we mentioned in the previous press release, we are disappointed in the spread of unconfirmed facts while we are in the process of collecting and sorting out the exact data on the content certification we received from Lee Seung Gi’s legal representative.

When Lee Seung Gi’s exclusive contract expired and was renewed in 2021, he had already confirmed the details of the settlement and agreed to enter into a financial relationship with us. As proof of this fact, we have also prepared a written contract.

Nevertheless, after Lee Seung Gi’s complaint, we reviewed the details of the settlement for a significant amount of profits we paid Lee Seung Gi again with the experts.

The wording of HOOK’s contract with Lee Seung Gi (such as the profit rate) that was recently announced by the media and the claim that Lee Seung Gi never received any payment for his music activities are not true at all.

If there is something wrong with our management, we will fix it immediately and take responsibility. As a managing agency that must maintain relationships with its celebrities based on trust, we apologize again for such poor performance.

For Lee Sun Hee, she was nominally listed as a director because she is an artist who has been with HOOK from the beginning. HOOK was a sole proprietorship run by CEO Kwona who owned 100% from 2006-2021. Lee Sun Hee did not manage the company or distribute the profits.

HOOK will not tolerate defamation and damage to our artists’ reputations with speculation related to the current release. We will take strict legal action through our legal representative.

Thank you.”

source: wikitree

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