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Lee Seung Gi and Hook Entertainment reportedly settle lawsuit for $4.1 million

December 16, 2022

Hook Entertainment has finally paid Lee Seung Gi the money the company owes the singer for not making any profits from his digital music since he began working for the label. Management gave him a whopping KRW 5.4 billion, or $4.1 million, to settle the lawsuit, they say.

Hook released a statement to reveal the move and apologized again. Lee Seung Gi, on the other hand, has not commented on the report at this time.

In the statement that AllKppo received, the company sincerely apologized to the singer-actor, who it believes is going through the toughest times right now. She also revealed the entertainer’s desire to have a transparent record of his music distribution earnings accrued during his exclusive deal with the company and get paid based on those documents.

The company then said it had already provided all the required paperwork and reached an agreement with the 35-year-old star. However, it was later said the payment he was being asked to pay was a far cry from the amount the agency owed him, leaving only a legal settlement to be agreed.

To settle the lawsuit, Hook paid Lee Seung Gi basic earnings of KRW 1.3 billion or $1 million, unpaid earnings of KRW 2.9 billion or $2.2 million, and interest of 1.2 billion or $915,000. In total, he received 5.4 billion or $4.1 million.

In addition, the company asked the court to clarify that it could no longer be held liable after payment. It then pledged to do its best to resolve the remaining legal dispute with Lee Seung Gi and ensure its artists receive all the revenue due to them from now on.

First, the Because You’re My Woman hitmaker sent a synopsis to Hook, his longtime agency, last month for transparent disclosure of his earnings. Dispatched then informed the media, claiming he never received any digital music profits from the company.

The agency initially denied the allegation, saying it discussed all the necessary financial details with Lee Seung Gi and paid him everything when he renewed his exclusivity contract last year. Later, the artist’s legal representative released a statement refuting Hook’s allegations, prompting the CEO to apologize and say she took full responsibility for the dispute. With the recent payback, many are hoping all is well between Lee Seung Gi and Hook.