JG Star disputes Lim Chang Jung's payment claims

Concert production company JG Star has denied singer Lim Chang Jung’s claims regarding a payment dispute of ₩1 billion, roughly $689,000. On March 19 KST, JG Star stated that the issue is more than just unpaid fees; it's a broader contractual matter. They decided to take legal action after Lim’s denial of the claims. JG Star provided a timeline of events leading to the dispute. In March 2020, they signed a nationwide tour contract with Lim. They advanced him ₩1.48 billion, or about $1 million. After Lim contracted COVID-19 in November 2021, all concerts were postponed. JG Star absorbed significant financial losses to help Lim, who agreed to grant them lifetime concert rights. In 2023, Lim unexpectedly terminated the agreement for rescheduled concerts. He tried to hold concerts with a new investor, breaking his prior commitment to JG Star. Additionally, in 2022, they signed a contract for a remake album, but Lim did not complete the project even after receiving an advance payment. Following Lim's involvement in a stock manipulation scandal in April 2023, his activities were affected. JG Star and Lim settled on May 13, 2023, detailing financial losses totaling ₩1.12 billion. Lim had also given JG Star collateral in the form of an office building, which turned out to be heavily mortgaged and not enough to cover the losses. JG Star accused Lim of hiding earnings from music copyright sales and concert fees, totaling ₩3.5 billion, or about $2.4 million. They stated that despite having the means to repay, Lim stopped communicating with them in late 2023. Due to Lim's alleged breach of contract and financial misconduct, JG Star is seeking compensation through legal means. They emphasized their support for Lim's comeback despite the losses incurred and are ready to pursue full financial restitution.