Previously, media outlet Sisajournal had questioned the identity of Gold Medalist's largest shareholder, an investment fund called Barun No.2 Investment Association.
The article said that this association operated very vagutely, the registered headquarters was a modest 3-storey building without a sign. Although Barun No..2 not only owns Gold Medalist but also controls an online education company listed on the KOSDAQ.
In addition, the transparency in paying profits (roses) to artists under Gold Medalist is also questioned. Gold Medalist's financial report shows that the company's "commission fee" section only paid a total of 670 million won to actors over the past 5 years (including Kim Soo Hyun, Choi Hyun Wook, Seol In Ah..., before that Seo Ye Ji, Lee Chae Min...), accounting for only about 1% of average annual revenue.
Sisajournal compared the payment for Gold Medalist artists to other entertainment companies such as EDAM Entertainment (managing IU), ADOR (managing NewJeans), Hook Entertainment (formerly managing Lee Seung Gi) and said this was an unusual sign.
In response to the suspicions, Gold Medalist has spoken out to clarify and deny illegal activities or violating the law.
Regarding accounting issues, Gold Medalist explained that listed companies comply with the International Financial Reporting Standards (K-IFRS), while companies that have not yet listed apply the Korean Accounting Standards (K-GAAP).
"It is unreasonable to directly compare the accounting methods of listed companies with our companies (not listed). According to K-GAAP, the cost of dividing salaries for actors is included in the selling price. Therefore, there are no accounting problems, Gold Medalist stated.
Regarding the association as the largest shareholder of Gold Medalist, the company affirmed that the association has registered a legal head office address. Due to the nature of investment funds, operating in real offices is very rare.
Finally, Gold Medalist stated that their management is always law-abiding: Over the years, our company has maintained a legal consulting contract with law firm LKB & Partners. Every aspect of management work goes through a strict legal review process, with no violations of the law in operation".
According to Osen, public opinion was divided after Gold Medalist spoke up to correct. Some audiences were disappointed because Kim Soo Hyun and his management company were constantly involved in scandals, and still doubted the company's activities.
However, many viewers defended Kim Soo Hyun and his company, criticizing the article for lacking initial knowledge and verification. They thought the media was "pushing things in a sensational direction" and deliberately posting malicious news about Kim Soo Hyun.
The actor born in 1988 has been on hiatus since March this year, due to controversy over his past love affair with the late actor Kim Sae Ron.
Kim Soo Hyun and Gold Medalist have sued Kim Sae Ron's family and YouTube channel operator Grosero for defamation and several other crimes. The ongoing legal battle has caused Kim Soo Hyun's activities to continue to stagnate, and the release of the film "Knock Off" in which he starred has been postponed.
