Lee Seung-gi Notifies Big Planet Made of Exclusive Contract Termination… Aftermath Includes Unpaid Settlement Funds and Unpaid Staff Wages

Singer and actor Lee Seung-gi has notified his agency, Big Planet Made Entertainment (hereinafter “Big Planet Made”), that he is terminating their exclusive contract, citing reasons such as unpaid settlement funds.

On the 6th, according to Lee Seung-gi’s legal representative, Attorney Yoon Yong-seok of the law firm Hyunmyeong, Lee Seung-gi served notice to Big Planet Made in late March that he would terminate the exclusive contract, citing the agency’s breach of that agreement. Accordingly, Lee Seung-gi’s position is that the exclusive contract was terminated lawfully. Lee Seung-gi’s side said it tried to maintain a relationship of trust despite various issues involving the agency and the departures of celebrities. However, it claims that settlement funds have not been paid properly since September last year up to the present.

In particular, it was reported that serious problems also arose not only with support for entertainment activities, but also with payments of costs to staff working on-site and to related external vendors. Lee Seung-gi’s side explained that it requested access to basic documents regarding contractual relationships in order to secure transparency in the settlement, but that request was rejected without any valid reason. It added that it decided to terminate the contract as there was no alternative, to ensure that staff would not be left unpaid. Lee Seung-gi plans to continue his activities responsibly for both fans and staff, with his existing schedules carried out without disruption.

Big Planet, a label under One Hundred, has been experiencing significant turmoil as newly surfaced management issues come amid a series of departures by its artists. Earlier, after SHINee’s Taemin moved to another agency, it is reported that THE BOYZ, VIVIZ, Lee Mu-jin, and B.O. also notified the agency of termination of their exclusive contracts, citing the breakdown of trust. As early signs of artists leaving expanded into a broader trust issue across the label, Big Planet’s side said it has taken a general stance that it is “in talks and coordination to achieve management normalization and a smooth resolution.”

Below is the full text of Lee Seung-gi’s legal representative’s statement.

Hello. I am Attorney Yoon Yong-seok of the law firm Hyunmyeong, serving as legal representative for Lee Seung-gi.

Representing Lee Seung-gi (hereinafter, the “Artist”), we would like to share the official position regarding matters such as termination of the Artist’s exclusive contract.

The Artist notified Big Planet Made Entertainment Co., Ltd. (hereinafter, the “Agency”) of termination of the contract at the end of March, citing a breach of the Agency’s exclusive contract. As a result, the exclusive contract in question was terminated lawfully.

Despite various issues involving the Agency, departures by affiliated entertainers, and even the fact that some settlement funds were not paid, the Artist worked to maintain the initial relationship of trust. However, since September of last year up to the present, settlement funds have not been paid, and problems have also arisen in areas such as support for the Artist’s entertainment activities and payment of costs to on-site staff and related external vendors.

In response, the Artist requested access to basic documents regarding contractual relationships in order to secure transparency in settlement, but this was also refused without any justifiable reason.

Because of this, the Artist notified the Agency of termination of the exclusive contract at the end of March, and therefore the exclusive contract was terminated lawfully and its effect was fully concluded.

Going forward, the Artist will do his best to ensure that no unforeseen damage occurs to other related parties due to this situation, and he will carry out the planned schedules without any hiccups. Most of all, we would like to say that the Artist will continue his entertainment activities with a sense of responsibility so as not to disappoint the fans and the staff who have been working at the site.

Thank you.