The legal battle over settlement funds between singer and actor Lee Seung-gi and his former agency, Hook Entertainment (currently Chorokbaem Entertainment), has reached its final conclusion.
An official representing Lee Seung-gi stated to OSEN on the 29th, “It is true that both sides submitted appeal withdrawal documents regarding the settlement dispute with Hook Entertainment.”
Earlier that day, according to legal sources, both Lee Seung-gi and Hook Entertainment filed notices to withdraw their appeals through their respective legal representatives ahead of the appellate trial.
The value of the appellate lawsuit was approximately 139 million KRW, but with both parties canceling their appeals, the first-instance ruling is expected to be finalized without additional litigation.
Previously, in August, the 20th Civil Agreement Division of the Seoul Central District Court partially ruled in favor of the plaintiff in the 829.9 million KRW settlement fund lawsuit filed by Lee Seung-gi against Hook Entertainment, ruling that the agency must pay approximately 690 million KRW.
Following the termination of his exclusive contract in December 2022, Lee Seung-gi demanded the settlement of profits, arguing that Hook Entertainment continued to generate music and album revenues. Meanwhile, Hook claimed that a separate agreement was necessary for profits generated after the termination of the exclusive contract.
The first-instance court ruled that Hook Entertainment bore the obligation to settle accounts even in the absence of a separate agreement, determining that a settlement was necessary for revenues generated after contract termination.
However, the settlement ratios claimed by Lee Seung-gi were not entirely reflected. The court adjusted the rates considering industry practices regarding sales generated after the contract ended, thereby calculating the amount Hook Entertainment was ordered to pay.
