Kim Soo Hyun’s agency, Gold Medalist, is going through its biggest crisis since its foundation five years ago. Even though it made around 20 billion won ($14 million) last year thanks to the drama Queen of Tears, things have taken a turn for the worse after rumors about Kim and the late actress Kim Sae Ron came out. The agency, which is basically run by Kim and his cousin Lee Sa Rang (also known as Lee Love), is now even facing the risk of closing down.
According to an audit report filed on April 20th with the Financial Supervisory Service, Gold Medalist had strong financial results in 2023. The agency made about 21.65 billion won ($15.2 million) in sales and earned around 2.76 billion won ($1.94 million) in operating profit. Compared to the year before, that’s a 61.7% increase in sales and a 48.4% jump in profit. It’s the first time the company has made over 20 billion won in a year. Their net income was 2.22 billion won ($1.57 million). Even though there were rumors about financial trouble, the company still has 4.77 billion won ($3.4 million) saved up, showing that its finances are in good shape.
On March 31st, Kim Soo Hyun filed a 12-billion won ($8.4 million) lawsuit for damages against the bereaved family of Kim Sae Ron and Kim Se Eui of the YouTube channel Garosero Research Institute, also known as HoverLab Inc. The Seoul Central District Court requested revisions to the complaint on April 2nd. On April 16th, Kim’s side submitted a revised version along with a request for an extension.
Speculation about financial troubles intensified after a media outlet reported that Kim had failed to pay the 38.3 million won ($27,000) in court fees. However, his legal team denied this, stating that all necessary payments had been made. They explained the extension was requested to verify the identity of a defendant known only as “Kim Sae Ron’s aunt.”
Meanwhile, there’s growing concern over the potential breach-of-contract penalties related to Kim’s advertising deals and the Disney Plus series Knock Off. Kim, who typically commands 1–1.2 billion won ($700,000-$850,000) per endorsement in Korea, had over 15 brands, including Homeplus, Eider, and Prada, suspend promotional activities featuring him. However, penalty clauses may not apply if the deals were already nearing expiration in cases like Tous Les Jours (by CJ Foodville), where contracts are typically six months.
Knock Off, which reportedly had a production budget of 60 billion won ($42 million), has had its release postponed due to the controversy. Industry insiders speculated that Kim could be liable for damages up to 180 billion won ($126 million)—three times the budget. However, many believe Disney Plus and production company Arc Media will hold off on legal action until the situation is resolved. A key issue will be whether Kim can prove he and Kim Sae Ron only dated for about a year, and after she was no longer a minor.
Adding to the turmoil, Gold Medalist has also been linked to a stock manipulation investigation. KBS reported that shares of a KOSDAQ-listed online education firm surged sevenfold over nine months before suddenly crashing. Financial regulators detected signs of market manipulation and launched a probe. The company’s largest shareholder is a corporate entity funded by two investment partnerships, one of which reportedly received backing from a prominent entertainment agency, believed to be Gold Medalist. Although the agency denied any involvement, suspicions remain. In 2020, Gold Medalist partnered with English education brand Siwon School to acquire WFM, a KOSDAQ-listed company, which was later renamed Gold&ES in 2021.
Initially, Gold Medalist built its roster by signing Seo Ye Ji and Kim Sae Ron and focusing on nurturing new talent. However, it was hit hard by Seo Ye Ji’s gaslighting and school bullying scandals and Kim Sae Ron’s DUI incident. While Choi Hyun Wook has risen to leading-man status, his personal controversies have limited advertising opportunities. Apart from Seol In Ah, most of the agency’s talents are still rookies in the industry, and the company remains heavily dependent on Kim Soo Hyun.
A source close to the agency stated, “Kim Soo Hyun essentially runs the agency single-handedly and contributed the majority of last year’s 20 billion won ($14.1 million) in revenue.” Another insider added, “The suspension of his activities will deal a significant blow to the company. It will take time to fully restore his reputation even if he wins the lawsuit.”
>> Kim Soo Hyun Failed to Pay Legal Fees for $8.4 Million Lawsuit? His Team Responds
