Kim Soo-hyun's Agency Denies Wrongdoing Amidst Controversy Over Profit Distribution

Gold Medalist, the agency representing actor Kim Soo-hyun, has officially responded to recent controversies surrounding the distribution of earnings to its artists.

In a statement released on the 19th, the company addressed allegations concerning accounting practices and the existence of its investment partnerships. "We have determined it is necessary to correct the facts regarding today's reports and are sharing the relevant information," the agency stated.

Regarding accounting methods, Gold Medalist clarified the difference between listed and unlisted companies. "Our company complies with the General Accepted Accounting Principles (K-GAAP) for unlisted entities, incorporating artist royalties as part of the cost of goods sold, thus posing no accounting issues," they explained.

Concerning the registered address of their investment partnerships, the agency asserted, "The address was legally registered at the time of business registration. Due to the nature of investment partnerships, operating from a physical office is virtually non-existent, and this remains the case currently." They further emphasized that all management decisions undergo thorough legal review through a contract with a law firm, ensuring no illegal activities.

Prior media reports had raised questions about the potentially low profit distribution figures provided to artists like Kim Soo-hyun, especially in light of the agency's significant revenue increase following the success of his drama 'Queen of Tears'.

Kim Soo-hyun recently achieved a massive success with the hit drama 'Queen of Tears,' solidifying his status as a top Hallyu star. His acting prowess and global appeal continue to garner international attention. This statement from his agency is expected to impact discussions about industry standards and artist compensation.