[theqoo] 'QUEEN OF TEARS' BLEW UP... KIM SOOHYUN'S AGENCY DENIES SETTLEMENT AND MANAGEMENT CONTROVERSY "NO ISSUES"

Actor Kim Soohyun’s agency, Gold Medalist, has issued a clarification regarding suspicions surrounding accounting and management.

On the 19th, Gold Medalist released an official statement addressing various allegations concerning accounting practices and an investment association.

Earlier that day, one media outlet had pointed out that Barun No.2 Investment Association, which controls Gold Medalist, had unclear operations. Despite overseeing a major Hallyu star and a KOSDAQ-listed company, the association’s registered headquarters was said to be in a shabby building with no signboard.

In response, the agency stated, “The association was lawfully registered at that address when it was established. Due to the nature of investment associations, it is common for them not to operate out of a physical office, and that remains the case now.”

Doubts were also raised regarding settlement payments to their artists. Despite Queen of Tears becoming a huge hit in 2024, bringing in sales exceeding 20 billion KRW, the reported payout fees were only around 270 million KRW. Critics pointed to other agencies that disclose artist settlement payments transparently through audit reports.

The agency countered: “Listed companies follow International Financial Reporting Standards (K-IFRS), while unlisted companies like ours follow Korean GAAP (K-GAAP). Therefore, comparing our accounting with that of a listed company is unreasonable. Under K-GAAP, payments allocated to actors are included under cost of sales, so there are no accounting issues.”

Finally, they emphasized: “For years, we have maintained a legal counsel contract with LKB & Partners, and all of our management practices undergo careful legal review. There are no unlawful practices in our operations.”

original post: here

1. So it was forced hate?

2. Phew, the trash journalists tried to start a forced hate campaign again

3. So the first journalist who wrote about it didn't even fact-check?

4. Kim Soohyun is freaking pitiful...

5. Wow, seriously unbelievable, they didn't even fact-check and just spat it out. Kim Soohyun is quite pitiful

6. Just how much do they want to hate on Kim Soohyun?

7. Trash journalists wanted to start a hate campaign

8. Why do you want to k*ll him off this much? You guys are weird

9. This really seemed like a forced hate

10. At this rate, I feel like someone just decided to write that to get Kim Soohyun hate

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