Korean actor and singer Lee Seung-gi will be donating a whopping 5 billion won ($3.8 million), the money that his agency owed him for 18 years.
Lee Seung-gi and his agency, Hook Entertainment, which manages actress Park Min-young and other stars, are in dispute over money from the singer’s music covering 137 songs dating back to 2004 that was never paid to him.
Hook Entertainment announced that it deposited money into Lee Seung-gi’s account.
"So, we paid him all that make up of his unpaid payment―2.9 billion won ―today. This is on top of 1.3 billion won that he was paid for his music already. We also gave Lee Seung Gi 1.2 billion won as interest for the delayed payment," the agency said, SBS News reported.
It added, "As everybody knows, we were asked to provide the transparent data of Lee Seung Gi's earnings and payments from his debut up to now, along with full payment of the amount of money that should have been paid. We collected the relevant data and handed them over to Lee Seung Gi's attorney in the beginning of this week. Based on those details, we hoped to reach an agreement with Lee Seung Gi."
On Dec. 16, Lee Seung-gi posted on his Instagram account to say that he will donate the 5 billion to people in need.
"Hi, everyone. It's been long. To be honest with you, I haven't been very well. I had been going back and forth from feeling resentment to blaming myself, then having another round of repeatedly being angry at the sense of betrayal and frustrated with disappointment every day," he said.
He added, "This morning, I received a text that around 5 billion won had been deposited into my account. I believe Hook Entertainment thinks that I took legal steps simply to get paid. I've never even received a single statement for my music until now, and they're now trying to close the case unilaterally by saying that they paid me all the 'unpaid' payment.”
The star said, “To this day, I had no idea that I made money from my music, because I heard that I was a 'minus' singer for the last 18 years. The reason why I took legal action against Hook Entertainment is not because of money. The value of one's sweat shouldn't be unfairly used for one's greed. That's what I thought and I believed this was the best thing I could do to show the world that." He was told by his agency that his music never earned.
"Around 5 billion won has found me, but what I don't know is on what basis Hook Entertainment came up with the amount of money that they gave me. Since I don't understand Hook Entertainment's calculation method, it looks like I will continue to stand up to them in court in the future. Let me apologize in advance for the fatigue that our battle may bring to you.", he said.
Lee Seung-gi then announced, "But what I can promise you is that I'll be donating the whole amount of their payment, how much the amount it turns out to be. I'll begin with the 5 billion won that was deposited today. Everything, except for the expenses for taking legal action, will be returned to society. This isn't an overnight thought. I told myself that I would donate the money for the people in need the moment I decided to go against Hook Entertainment."
According to him, "The 5 billion won that I received today is certainly big and precious to me. It contains sweat from my teens, 20s and 30s. But if the money could be spent on people who have harder lives than myself, I would feel more than 5 billion won worth of happiness and value.”
“From next week, I plan on making detailed plans for my donation through meetings with places where I could donate. There are a lot of people out there who can't move well. Many youngsters give up on their dreams due to the poor circumstances that they are in. Some are unable to get proper treatment on time in a life-threatening situation. 5 billion won might not be enough to help all of them, but I'll take a small step into practice,” he added.
The star said, "Most of all though, a great number of people have given me support while I went through this. You've given me a lot of strength. I felt comforted and loved. Thank you for reminding me how much I'm loved. Although it's not much, I'll repay you by returning your love to society. Have a warm end of the year, and I will keep going my way with sincerity like I always have."
Lee Seung-gi starred in Korean dramas such as "My Girlfriend Is a Gumiho," "Gu Family Book," "Vagabond" and "Mouse."