Lim Chang-jung, received 1.7 billion won and did not return the guarantee? “I did my best to pay” Rebuttal [Official Position]
On the 13th, news broke that Lim Chang-jung had not paid his performance guarantee.
According to reports, Lim Chang-jung signed a nationwide tour concert contract with performance planning company A in 2022, and company A paid Lim Chang-jung a guarantee of over 10 billion won. However, in April 2023, suspicions were raised that Lim Chang-jung had a close relationship with stock manipulation forces, and the tour was canceled. As a result, company A had to pay a penalty for the cancellation of the venue.
Company A stated, “Lim Chang-jung received a guarantee of about 1.7 billion won from M-Box Entertainment, but they still have not returned the damages and guarantee,” and announced that they have cut off contact.
Regarding this, M-Box Entertainment, Lim Chang-jung‘s agency, refuted the claim on the 14th, saying, “The claim by Company A, the concert planning company that carried out the 2020-2021 nationwide tour concert, is different from the facts.”
They continued, “The unreturned guarantee mentioned by Company A is not only the remaining concert guarantee that could not be carried out due to the incident at the time, but also the total cost of Company A’s damages (cancellation fee for venue rental, various promotional expenses), delay interest, expected future profits, etc., as well as the cost of producing the remake album (deducting the repayment amount when the album is released). The actual amount of debt is different from what is claimed,” they explained the reason for their refutation.
He added, “We have paid part of the current compensation amount, and at the time, due to the loss of ability to pay, we signed an agreement at the request of Company A, actively cooperated with the provisional registration transfer of the company-owned building to Company A, and all legal demands, and have faithfully fulfilled our payment obligations.”
The agency and Im Chang-jung have also done their best to pay in order to take maximum responsibility for the damages.
M-Box Entertainment said, “We have contacted the company several times up until recently about the clear amount of damages and payment plans,” and asked for refraining from speculation, saying, “The agency plans to help Im Chang-jung, who has gone through a long and difficult time, support his activities as an artist, and fulfill all of his given obligations.”
Im Chang-jung will be holding his 2025 solo concert, ‘The Rustic Concert’, at Daegu EXCO Auditorium on May 3, Busan Dream Theater on May 24, and Yonsei University Grand Auditorium in Seoul on May 31.
[Below is M-Box Entertainment‘s official position]
Hello. This is M-Box Entertainment.
This is our position on the report on the Lim Chang-jung concert guarantee that was reported on the 13th.
We would like to inform you that the claim by concert planning company A, which held the 2020-2021 nationwide tour concert, is different from the facts.
The non-refundable guarantee mentioned by Company A includes not only the remaining concert guarantee that could not be held due to the incident at the time, but also the total cost of A’s damages (cancellation fee for the venue, various promotional expenses), delay interest, expected future profits, etc., as well as the cost of producing a remake album (deducting the repayment amount upon the release of the album), so we inform you that the actual amount of debt is different from what is claimed.
A portion of the damages have been paid, and due to the loss of the ability to pay at the time, we have actively cooperated with all legal demands by writing an agreement at Company A‘s request and transferring the company-owned building to Company A and faithfully fulfilling our payment obligations.
In relation to this, the agency and Mr. Lim Chang-jung are requesting the maximum amount of damages. We have done our best to pay in order to take responsibility, and we have contacted the company several times until recently about the exact amount of damages and the payment plan.
The agency will help Im Chang-jung, who has gone through a long and difficult time, and will support his activities as an artist, as well as fulfill all of the obligations given to him.
We earnestly request that you refrain from making groundless assumptions and speculative reports.
Thank you.
Jeon Hyo-jin, Donga.com reporter jhj@donga.com
This article is automatically translated using Google AI. If you notice any inaccuracies, please let us know at allkstar@donga.com.
