Jessica Jung’s BLANC & ECLARE Reportedly Embroiled In ₩8 Billion KRW Lawsuit For Unpaid Loans
Jessica Jung‘s fashion company BLANC & ECLARE is reportedly currently embroiled in a ₩8.00 billion KRW (about $6.79 million USD) lawsuit after failing to pay back loans.
According to a report from local Hong Kong media via Osen, BLANC & ECLARE is currently facing a ₩8.00 billion KRW (about $6.79 million USD) lawsuit after failing to pay back their debt. BLANC Group, which operates BLANC & ECLARE, borrowed $3 million USD from Spectra SPC in October 2016 and another $1 million USD in May 2017. The loan was transferred to Joyking Enterprise in August 2021, and Joyking Enterprise filed a lawsuit against BLANC & ECLARE for failure to pay back the loan principal and interest, totaling the aforementioned ₩8.00 billion KRW (about $6.79 million USD).
BLANC & ECLARE was founded by Jessica as a fashion brand in 2014 and the company’s CEO is her boyfriend, Tyler Kwon. Neither the company nor Jessica’s representatives have commented on the situation yet. Jessica has continued to stay active with her public appearances, however she recently cancelled one of her most anticipated events from her foreign fans. She was scheduled to appear on Reddit’s K-Pop talk on September 23, but the event was suddenly postponed hours before happening.