The agency of singer Lim Chang-jung has stated that the allegation regarding the non-refundable guarantee of about 1 billion won, despite the cancellation of the performance, is unfounded.
On the 14th, Lim Chang-jung's agency, M Box Entertainment, noted, "We would like to clarify that the claims made by event planning company A, which conducted the national tour concert from 2020 to 2021, are not accurate," and "The non-returned guarantee mentioned by A includes not only the guarantees for the remaining concerts that could not be held due to the incident at that time but also the total amount of A's damages (venue cancellation fees, various promotional expenses), delayed interest, future expected revenue, and production costs for the remake album (amount deducted at the time of album release), thus informing you that the actual debt amount is different from what has been claimed."
He added, "Currently, a portion of the damages has been repaid, and due to the loss of repayment capacity at that time, we drafted an agreement at A's request to transfer the company-owned building to A before the provisional registration and actively cooperated with all legal demands, fulfilling our repayment obligations sincerely."
He continued, "In this regard, the agency and Lim Chang-jung have made their best efforts to take maximum responsibility for the damages and have communicated several times regarding clear damage amounts and repayment plans through the company even until recently," and "The agency will support Lim Chang-jung, who has gone through a difficult time for a long period, not only in his activities as an artist but also in fulfilling all obligations given to him."
Full statement below.
Hello.
This is M Box Entertainment.
This is our position regarding the report on Lim Chang-jung's performance guarantee published on the 13th.
We would like to clarify that the claims made by event planning company A, which conducted the national tour concert from 2020 to 2021, are not accurate.
The non-returned guarantee mentioned by A includes not only the guarantees for the remaining concerts that could not be held due to the incident at that time but also the total amount of A's damages (venue cancellation fees, various promotional expenses), delayed interest, future expected revenue, and production costs for the remake album (amount deducted at the time of album release), thus informing you that the actual debt amount is different from what has been claimed.
Currently, a portion of the damages has been repaid, and due to the loss of repayment capacity at that time, we drafted an agreement at A's request to transfer the company-owned building to A before the provisional registration and actively cooperated with all legal demands, fulfilling our repayment obligations sincerely.
In this regard, the agency and Lim Chang-jung have made their best efforts to take maximum responsibility for the damages and have communicated several times regarding clear damage amounts and repayment plans through the company even until recently.
The agency will support Lim Chang-jung, who has gone through a difficult time for a long period, not only in his activities as an artist but also in fulfilling all obligations given to him.
We earnestly request that baseless speculation and conjectural reporting be restrained.
Thank you.
[Photo] OSEN DB
[OSEN = Reporter Kang Seo-jung]