Singer Lim Chang-jung, embroiled in a dispute over allegations of not returning the guarantees for concerts that were previously canceled, will proceed with a concert.
On the 11th, Lim Chang-jung posted on his social media account, "It has been 30 years since I received great love through performances, acting, and laughter. I always miss the stage and am preparing with that unchanged heart in front of you. Although our songs from back then have now become memories, I wonder what we were like during that time. Let's recall it together with this." He uploaded a photo along with the post.
The photo featured a poster for the "Cheesy Concert" that Lim Chang-jung is holding to mark his 30th debut anniversary. Starting with the performance at Daegu EXCO Auditorium on May 3, it will also be held at Busan Dream Theater on May 24 and at Yonsei University Auditorium in Seoul on the 31st.
After being embroiled in allegations of stock manipulation in 2023 and receiving a not guilty verdict, Lim Chang-jung resumed his activities. He chose the 30th anniversary concert as his first step, but it is not proceeding smoothly due to disputes with the concert planning company.
According to the concert planning company, both sides signed a national tour concert contract in March 2020. The concert planning company pre-paid a total of 1.48 billion won in six payments by November 2021, but the national tour concert was postponed when Lim Chang-jung contracted COVID-19 by violating quarantine rules in November 2021.
The postponed national tour concert was held in 2022 under the title "Multiverse," with a total of 28 performances taking place from June 18 to December 31 of that year, out of which 16 were conducted. The remaining 12 performances were scheduled for 2023, but Lim Chang-jung expressed his intention to terminate the verbal agreement, stating that he wants to proceed with a new investor.
In particular, the concert planning company had signed a project audio contracting agreement with Lim Chang-jung ahead of the "Multiverse" concert. In April 2023, as Lim Chang-jung's activities became difficult due to allegations of stock manipulation, they prepared a compensation agreement reflecting the related damages. The contract specifically included performance guarantees of 720 million won, venue fees of 77.8 million won, losses from canceled regional performances of 80 million won, project album vocal fees of 75 million won, adaptation consent fees of 7.5 million won, arrangement and production costs of 32.5 million won, promotional expenses of 25 million won, and registration fees of 8.6 million won, totaling 1.12904 billion won including value-added taxes.
The concert planning company explained, "At that time, we considered Lim Chang-jung's situation and set the guarantees, venue fees, and costs incurred for album production as the damages."
On the other hand, Lim Chang-jung's side claimed, "The unreturned guarantees mentioned by the concert planning company include not only the remaining concert guarantees that could not be held due to the incident but also the total costs of the concert planning company's compensation for damages, delayed interests, future expected revenues, and even costs for remake album production. The actual amount of debt is different from what is claimed. Currently, some of the compensation amount has been repaid, and due to the inability to repay at that time, we have actively cooperated with all legal requests following the request of the concert planning company by drafting a settlement document to transfer the ownership of the company-owned building to Company A and have diligently fulfilled our repayment obligations."
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