Singer Lee Seung-gi has informed Hook Entertainment that their exclusive contract has been terminated, after the agency admitted that it failed to adequately pay the singer its earnings, local media reported Thursday.
Last month, the singer demanded that his agency Hook Entertainment fully disclose his payment history. Lee has been a popular singer since his debut in 2004 and has released a total of 137 songs over the past 18 years, but he claims he hasn’t received any payments for digital streams or downloads of his songs.
In official legal documents sent to Hook last month, Lee asked Hook to release financial records regarding his cut for 27 albums and 137 songs.
Hook Entertainment initially denied allegations that it withheld payment from Lee, but according to industry insiders, the agency sent a response to Lee’s document, admitting that Lee had not been properly paid. for the distribution of his songs. In response, Lee said their exclusive contract was canceled on the grounds that Hook violated their terms and conditions.
Hook Entertainments CEO Kwon Jin-young is currently facing charges of embezzlement and misuse of the company’s credit card. Kwon released an official statement on Wednesday, which does not address the embezzlement allegations.
I will be fully responsible for the dispute regarding Lee Seung-gi,” she wrote. I will not avoid responsibility and use my personal funds to solve the problem.
The agency is currently under police investigation and was searched and seized on November 10. The charges have not yet been made public.
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