Singer Park Hyo-shin has once again become embroiled in a legal dispute with his former agency.
This marks the fifth time Park Hyo-shin has faced a legal battle with an agency. Previously, in 2005, Park Hyo-shin signed an exclusive contract with Nisshien Entertainment Group, but the following year, the agency claimed that he had not fulfilled his contractual obligations and filed a damages lawsuit for 1 billion won against Park Hyo-shin and his manager. Ultimately, Park Hyo-shin returned the full amount of the contract through a settlement, and both parties withdrew the lawsuit.
Then, in 2008, Park Hyo-shin became embroiled in a damages lawsuit for 3 billion won filed by Interstage. The court ruled that Park Hyo-shin should pay 1.5 billion won in damages, and he subsequently signed an exclusive contract with Jellyfish Entertainment.
Park Hyo-shin settled all debts with Interstage with the help of his agency; however, in 2014, Interstage once again filed a complaint against him for debt evasion, resulting in Park Hyo-shin being sentenced to a fine of 2 million won in 2015. In 2019, he was also sued for fraud by a businessman concerning goods valued at 400 million won, including a passenger car and a wristwatch.
After the expiration of his exclusive contract with Jellyfish, Park Hyo-shin transferred to a newly established agency, Glove Entertainment, but he also had conflicts with Glove Entertainment. In 2022, Park Hyo-shin lamented that he had not received not only settlement payments but also music revenue and contract payments for the past three years. Subsequently, after three years, Glove Entertainment filed a lawsuit against Park Hyo-shin for fraud.
On the 25th, a media outlet reported that Park Hyo-shin was recently sued by former Glove Entertainment CEO A and shareholders who hold Glove stocks for violations of the Act on Specific Economic Crimes (Fraud) and obstruction of business.
According to the report, they submitted a complaint against Park Hyo-shin to the Yongsan Police Station in Seoul on the 7th. This lawsuit reportedly arose from a management rights dispute that surfaced after Glove allotted new shares to Park Hyo-shin, A, and other shareholders through paid-in capital increases in May 2016 and August 2018.
The complainants alleged, "Park Hyo-shin deceived B, who is unfamiliar with the company's situation, into believing that there was no actual trust agreement even though there was, causing B to mistakenly think that the shares owned by the complainants were actually held in trust by him."
They further stated, "At the extraordinary shareholders' meeting in March 2022, Park Hyo-shin directly exercised the voting rights over the shares owned by the complainants, appointing three of his allies as directors and taking control of management, and at the extraordinary shareholders' meeting in August 2023, he dismissed A from the position of director through voting rights over the complainants' shares." They see Park Hyo-shin's actions as corresponding to 'triangular fraud (a deceptive act where the deceiver and the victim are different people).'
In response, Park Hyo-shin's side denied through the media that it is true he has become embroiled in civil lawsuits related to stocks, but stated there are no facts that he has been accused of fraud.
Meanwhile, Park Hyo-shin will perform in the musical "Phantom" starting May 31, meeting with the audience.
[Photo] OSEN DB
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