Hook Entertainment Responds To Reports Of CEO Using Lee Seung Gi’s 4.7 Billion Won Loan To Buy Luxury Apartment

Nov 26, 2022

Hook Entertainment has responded to reports related to Lee Seung Gi lending its CEO billions of won (millions of dollars) over the past eight years.

On November 26, Korean news outlet 10Asia reported that between 2014 and 2021, Lee Seung Gi had lent Hook Entertainment CEO Kwon Jin Young a total of 4.725 billion won (approximately $3.538 million) with zero interest.

Additionally, 10Asia reported that during that time period, Kwon Jin Young had purchased a 3.4 billion won (approximately $2.5 million) apartment in the famous luxury apartment complex Hannam the Hill—and paid for it in cash. The timing of the purchase raised speculation that Kwon Jin Young may have used Lee Seung Gi’s short-term loan to buy an apartment for herself. The apartment in question is now valued at over 7 billion won ($5.2 million).

On the morning of November 27, Hook Entertainment responded to the report by stating simply, “The Hannam the Hill [residence] is Kwon Jin Young’s personal business and has nothing to do with Hook Entertainment.”

Meanwhile, CEO Kwon Jin Young commented, “[The purchase of the apartment] has nothing to do with Lee Seung Gi.”

Earlier this month, it was revealed that Lee Seung Gi had sent a certification of contents to Hook Entertainment asking for transparent disclosure of payment. Dispatch then published a report alleging that Lee Seung Gi had never received any of his digital music revenue from the agency, with Lee Seung Gi’s legal representative adding that the star had been insulted and threatened when he requested a breakdown of profits.

However, Hook Entertainment denied the allegations made by Dispatch, claiming that they had gone over all relevant financial details with Lee Seung Gi and paid him everything he was owed when renewing his exclusive contract in 2021.

Meanwhile, Hook Entertainment recently underwent a search and seizure by the Severe Crime Investigation Division of the National Police Agency due to suspicion of embezzlement by some of its executives.

Source: Soompi