‘J’ ‘C’, an entertainment agency filed a lawsuit against Big Bang’s Seungri, that he and company ‘J’, a real estate investment company owned by Seungri’s father, withheld real investment profits belonging to both parties, according to media outlet The Fact.
Way back in December of 2015, Seungri had filed a lawsuit against a female singer named Shin Eun Sung, who was under company C and had borrowed money from Seungri for a real estate investment venture. It was reported that the loan amount for the lawsuit had been 2 billion KRW (~ 1.7 million USD) plus an added 50 million KRW (~ 43,000 USD), but after some time, the lawsuit was ultimately cancelled, and made an amicable settlement.
However, here’s second lawsuit filed last February 13 by company C surrounding the same land with which singer Shin had sought to pursue her real estate investment venture. According to company C, “We contacted the notarized contract holders company J, and the owner of the land Lee Seung Hyun(Seungri’s real name), with regards to the profits earned from an increase in the land’s value several times, but unfortunately, we were not able to contact them, and as a result we have filed a lawsuit.” Company C is asking for “the return of profits earned from the real estate investment.”
It was said that the price of the land when first purchased back in 2014 was around 3.4 billion KRW (~ 2.9 million USD), but has now appreciated to approximately 8 billion KRW (~ 6.9 million USD). It is therefore assumed that company C is wanting to have a share of the land’s profits from company J by subjecting to the contract that both parties previously signed when carrying out the real estate investment venture back in 2014, where singer Shin was also involved.
Company C also claims that it is not right that Shin refused to contact Seungri regarding the amount loaned from the previous case. When The Fact however attempted to reached out Seungri’s parents’ sides by visiting the cafe owned by them, and an employee of the cafe said, “The parents are such good people, it’s difficult to believe that they are connected with this kind of lawsuit at all… It seems as though they are reluctant to be reach and to come in contact with the media for worry that it might affect greatly on their son’s career.”