Hook Entertainment has responded to reports about Lee Seung Gi not receiving any payment for music releases over the past 18 years.
On November 21, Dispatch reported that after Lee Seung Gi debuted in June 2004 with his first studio album, he released 27 albums and 137 songs, but that the singer did not receive any of his income. Dispatch went on to share a statement of profit by distribution channel and revealed that the music revenue earned by Lee Seung Gi between October 2009 and September 2022 was 9.6 billion won (approximately $7,069,000). Additionally, they reported that five years worth of statements from June 2004 to August 2009 were missing, raising the speculated total amount that Hook Entertainment received from distributors to over 10 billion won (approximately $7,364,400)
Shortly after these reports, Hook Entertainment’s CEO Kwon Jin Young shared the following statement:
This is Hook Entertainment’s CEO Kwon Jin Young.
As bad stories have been coming out about me and our agency from news outlets recently, regardless of whether they are true, I am so ashamed.
Everything is due to my negligence and lack of discretion, so I feel ashamed and apologetic.
It is reasonable to specifically confirm the truth regarding the stories currently floating around and being reported by press, but as mentioned in our previous press release, we ask for your understanding that we are currently in the organization stage to fact-check, and that we are refraining from releasing a statement of our position because this could be dealt with legally.
In the future, once the aspects that either Hook Entertainment or I have to deal with legally are clearly confirmed, we will not step back or avoid anything and take all responsibility.
Hook Entertainment and I will do our best to make sure that this will not interfere with the entertainment promotions of our agency stars and be even more careful so there are no further incidents that cause concern to everyone.
Earlier this month, it was revealed that Lee Seung Gi had sent a certification of contents to his agency Hook Entertainment, asking for transparent disclosure of payment. Recently, the agency’s office building was also seized and searched by the Severe Crime Investigation Division of the National Police Agency due to suspicion of embezzlement by some executives.
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