The case of Lee Seung Gi seemingly being defrauded by his firm Hook Entertainment continues to rage on.

After Hook’s temporary earlier assertion, they adopted up with another during which they once more typically apologize, then particularly achieve this to Lee Seung Gi and for CEO Kwon Jin Young, not denying that it was her making threats and being abusive to workers.

They then said that they’re nonetheless organizing their response, however declare that each events settled issues in 2021.

At the cut-off date the place our unique contract with Lee Seung Gi resulted in 2021 and we had been signing a renewal, each events checked the data of payouts, and we accomplished the monetary payout tasks between us throughout that point. This was confirmed with Lee Seung Gi, and a written settlement was additionally made.

They additionally particularly deny that they’d not issued any funds to Lee Seung Gi for his music, although that might imply they paid him only a greenback for all we all know.

Despite this, as Lee Seung Gi introduced up a problem, HOOK Entertainment, along with professionals, is at present reviewing the payouts fastidiously to Lee Seung Gi, which whole a considerable quantity. In addition, lately, a media outlet introduced the contractual clauses between our firm and Lee Seung Gi, together with the revenue cut up, and many others. They wrongly revealed that we have now not issued funds, even as soon as, for digital music streams to Lee Seung Gi.

The response to those claims by Hook got here comparatively fast, as Lee Seung Gi’s authorized rep known as their claims “false”, explaining they by no means settled on cost for music in 2021, occurring to explain additional dialogue as “meaningless”.

Lee Seung Gi by no means obtained a press release of accounts for his music income. There isn’t any means of telling in any respect what sort of cost Hook Entertainment made to Lee Seung Gi for his music or by means of what methodology.
What is definite is that Hook Entertainment purposefully hid from Lee Seung Gi the reality that income from music had been being generated and that revenue settlements primarily based on correct breakdowns and proof didn’t happen.
If Hook Entertainment paid Lee Seung Gi for his music, they will present clear proof of cost by means of thorough verification of deposit and withdrawal statements. The calculations are additionally easy. If there are settlement particulars of the bottom cost for music as Hook Entertainment claims, they will exclude it from the unpaid cost.
Despite this not being a tough drawback within the slightest, we as soon as once more categorical remorse that [Hook Entertainment] has not revealed the gross sales and settlement statements for his music income and that they persistently gaslighted him till now by telling him, “You are a minus singer (meaning negative profit margin).”
At the time Lee Seung Gi renewed his unique contract with Hook Entertainment round 2021, they revealed that they’d cleared up all of the bond-debt relationships between the events, however this isn’t true within the slightest as properly. We wish to clearly inform that the related written settlement isn’t a settlement settlement between Lee Seung Gi and Hook Entertainment for his music income.

Hook principally was caught in a half-truth, as there was an settlement in 2021, however it was really over a ~$3.5 million funding Lee Seung Gi made in 2011. However, his rep says not one of the guarantees that got here with stated cash being put into the corporate had been saved.

The 2021 settlement between Lee Seung Gi and Hook Entertainment was relating to Lee Seung Gi’s actual property funding of 4.7 billion received in Hook Entertainment. Around 2011, Hook Entertainment obtained an funding of 4.7 billion received from Lee Seung Gi for the rationale of buying a constructing. CEO Kwon Jin Young didn’t hold any guarantees relating to the funding. When Lee Seung Gi expressed his intent to terminate his administration contract with Hook Entertainment, Hook Entertainment revealed that they might deal with the prevailing funding as a mortgage, and in that course of, they wrote an settlement whereas eradicating Lee Seung Gi’s rights as an investor.
We really wish to ask Hook Entertainment how Lee Seung Gi, who didn’t even know the reality about music income being generated, can settle the music income and make an settlement on that. If Hook Entertainment requested Lee Seung Gi signal an settlement in 2021 with the settlement of the music income in thoughts, that’s clearly a case of fraud.

Oof, there’s a the f-word.

This special approach is being introduced up now as a result of a report emerged a pair days in the past that Lee Seung Gi had given CEO Kwon Jin Young a complete of ~$3.5 million in interest-free loans and went on to say that round that point interval she had purchased a luxurious house. Both Hook and Kwon Jin Young had launched terse denials of the residence being related to the mortgage, however didn’t deny the mortgage half.

Just appears like Hook is desperately making an attempt to salvage no matter repute they will with the general public at this level.

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