Lee Seung Gi was allegedly manipulated and not paid for music during his 18-year career with Hook Entertainment – Asian Junkie

By | November 21, 2022

Actor and singer Lee Seung Gi wouldn’t have been paid by his former company Hook Leisure for his musical releases for 18 years, as they manipulated him into believing that his hit songs had been the truth is not worthwhile as a result of expense incurred on their half.

Just a few days in the past, Lee Seung Gi filed for content material certification and demanded clear accounting from Hook.

Properly, Dispatch has now reported that he hasn’t been paid by Hook for his music in any respect since 2004.

Whereas Hook Leisure collected income from Lee Seung Gi’s music, Lee Seung Gi didn’t obtain any cash. Over the previous 18 years, he has launched a complete of 137 songs, however his music-related earnings has remained at 0 gained.

Dispatch obtained an announcement of rules from the distribution channels that distributed Lee Seung Gi’s music. Between 2006 and 2022, Lee Seung Gi’s music enterprise generated greater than KRW 9.60 billion (roughly US$7.16 million) in income. In different phrases, that very same quantity was recorded as gross sales in his Hook Leisure enterprise account. Paperwork for 2004-2009 had been misplaced, so not all data may very well be recovered. As the knowledge was misplaced, the accounting books from June 2004 to August 2009 couldn’t be absolutely verified, which signifies that the earnings and expenditure report now not exists. There is no such thing as a strategy to verify how a lot was spent versus how a lot he earned for his hit songs throughout this time, though some estimates have been made for 2006-2009. Nonetheless, it is protected to imagine that Lee Seung Gi’s music gross sales would simply exceed KRW 10.0 billion (about US$7.46 million), if the lacking years had been taken under consideration.

Hilariously, it began with an inaccurate textual content message from Hook that unwittingly revealed to him {that a} digital track he launched ended up creating wealth. An business senior was floored by Lee Seung Gi pondering his songs had been dropping cash.

Lee Seung-gi: Hyung. I suppose I additionally earn money from digital gross sales. Even after the manufacturing price of 200 million KRW (about 149,000 USD), I earned 33.6 million KRW (about 25,100 USD).
Senior: What are you speaking about? How a lot do you suppose the royalties I get? For you, you earn some huge cash. Have not been paid but?
Lee Seung Gi: That is proper. I at all times hear that I’m a singer much less.
Senior: What are the phrases and situations of your contract with Hook? Why have not you been paid but?

Dispatch notably gave particulars of his sixth album, which they present had manufacturing prices totaling $127,000 and earnings of $787,000, however no fee was made to him.

He had requested the corporate up to now about its profitability, however the firm had repeatedly informed him that he was a “minus singer” as a result of his followers weren’t shopping for albums they usually had been dropping cash. cash due to manufacturing prices.

1) June 2021: Seung Gi! I do not need to say that to a singer in our company… You are a singer much less, how are we imagined to calculate issues?
2) August 2022: Are you aware how a lot it prices to advertise an album? I needed to give Media Supervisor A a present and acquired one other reward for Media Supervisor B…
3) November 2022: You might be so boring! We requested Park, a member of the accounting workforce, to organize the settlement knowledge, however the asshole did not as a result of he did not need to work.

By the best way, Hook was lately raided attributable to suspicions of embezzlement by firm executives, and whereas that has nothing to do with it, it actually would not assist not their credibility within the matter.

——

Truthfully, I am simply shocked {that a} “huge” company may get away with successfully scamming an enormous star for therefore lengthy. I am anticipating a variety of bullshit, and perhaps I’d see an organization skimming a well-known artist, however I by no means thought that somebody of Lee Seung Gi’s fame would not receives a commission something for nearly 20 years for his music. The media describes it as a brand new “slave contract”, and it is exhausting to disagree.