Kim Soo-hyun's Agency Gold Medalist Addresses Controversy Over Low Profit Sharing and Investment Fund Legitimacy
Gold Medalist, the agency of actor Kim Soo-hyun, has officially responded to recent allegations concerning low profit distribution to its artists and the unclear nature of its parent investment fund.
On the 19th, Gold Medalist released a statement clarifying the facts. The agency addressed reports that claimed the company had distributed a mere 670 million KRW in profit sharing to its actors over five years, a figure deemed surprisingly low. Further suspicions were raised regarding the legitimacy of the investment fund, which reportedly lacked a visible presence at its registered address, with another company occupying the space.
In response, Gold Medalist issued a three-part rebuttal covering accounting practices, the investment fund's address, and corporate governance. Regarding accounting, the agency stated, “As an unlisted company, we follow General Accepted Accounting Principles (K-GAAP), and artist profit shares are included in the cost of revenue, posing no accounting issues.” They also clarified the investment fund's address, explaining, “The fund was legally registered at that address upon business registration, and it is common for investment funds not to have physical offices due to their nature.” Lastly, concerning management transparency, Gold Medalist asserted, “We have been under detailed legal review for overall management through a contract with a law firm for several years, ensuring no illegal activities.”
Kim Soo-hyun has solidified his status as a top Hallyu star with a string of successful dramas including 'Dream High,' 'Moon Embracing the Sun,' 'My Love from the Star,' 'The Producers,' 'Crash Landing on You,' and 'My Love Twist.' His works have garnered immense popularity both domestically and internationally, significantly contributing to the Korean wave. He is currently positively considering a role in the upcoming tvN drama 'The Bird That Drinks Tears,' generating anticipation among fans.